Rational Decision Making Model Flashcards, test questions and answers

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What is Rational Decision Making Model?

Rational Decision Making Model is a model used to make decisions based on the assessment of multiple possible solutions and the selection of the best alternative. This model allows decision makers to use rational thinking, logical reasoning, and objective analysis to choose from among a range of possible options. The Rational Decision Making Model consists of six steps which are problem identification, alternatives generation, alternatives evaluation, selection criteria development, alternatives comparison and decision implementation. The first step in the Rational Decision Making Model is problem identification. This involves defining the issue or challenge that needs to be addressed and determining what factors are influencing it. Once this has been done, specific goals related to solving the issue should be established so that progress can be tracked as each step in the process is implemented. The second step involves generating alternatives which could potentially help solve or address the problem identified in Step 1. Alternatives should include both short-term and long-term solutions as well any potential compromises which could help create an acceptable resolution for all parties involved. The third step involves evaluating each alternative generated in Step 2 according to certain criteria such as cost effectiveness, feasibility and impact on other stakeholders who may not have been directly involved in creating them (e.g., suppliers). These criteria will help narrow down the list of potential options by providing a more objective means for assessing their value relative to one another. The fourth step requires developing selection criteria which can then be used to compare different alternatives against one another based on their potential merits or drawbacks relative to achieving specific goals associated with solving a given problem or challenge at hand. The criteria should also take into account any external factors such as regulatory requirements which may need to be taken into consideration when making a final decision about how best proceed with addressing an issue or challenge identified earlier in Step 1 of this process model’s cycle. The fifth step entails comparing different alternatives against one another using established selection criteria developed previously during Step 4 (along with any additional ones found necessary during this phase). This comparison should provide further insight into each alternative’s relative strengths/weaknesses and allow for more informed decisions about how best proceed with addressing an issue/challenge at hand when all relevant information has been considered together using an objective framework (i.e., selection criteria).