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Sample flowchart representing a decision process when confronted with a lamp that fails to light. In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief or a course of action among several possible alternative options.
The word consensus is Latin meaning "agreement, accord", derived from consentire meaning "feel together". [2] A noun, consensus can represent a generally accepted opinion [3] – "general agreement or concord; harmony", "a majority of opinion" [4] – or the outcome of a consensus decision-making process.
Knowledge-Based Decision-Making (KBDM) in management is a decision-making process [2] that uses predetermined criteria to measure and ensure the optimal outcome for a specific topic. KBDM is used to make decisions by establishing a thought process and reasoning behind a decision. [ 3 ]
Simon argues factors such as imperfect information, uncertainty and time constraints all affect and limit our rationality, and therefore our decision-making skills. Furthermore, his concepts of 'satisficing' and 'optimizing' suggest sometimes because of these factors, we settle for a decision which is good enough, rather than the best decision ...
Satisficing is a decision-making strategy or cognitive heuristic that entails searching through the available alternatives until an acceptability threshold is met, without necessarily maximizing any specific objective. [1]
Cognitive psychology In cognitive psychology (and related fields like experimental philosophy, social psychology, behavioral economics, or experimental economics), judgement is part of a set of cognitive processes by which individuals reason, make decisions, and form beliefs and opinions (collectively, judgement and decision making, abbreviated JDM).
[3] [4] Cynefin is a Welsh word for 'habitat'. [5] Cynefin offers five decision-making contexts or "domains"—clear (also known as simple or obvious), complicated, complex, chaotic, and confusion (or disorder)—that help managers to identify how they perceive situations and make sense of their own and other people's behaviour.
Improving speed: While making a good decision is important, making a quick decision is also important. Therefore, emotions and associated somatic conditions can offer mechanisms for encouraging a decision maker to decide quickly, especially when one or more options are potentially dangerous. Hunger, anger and fear can all induce a speedy decision.