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Decision quality (DQ) is the quality of a decision at the moment the decision is made, regardless of its outcome. Decision quality concepts permit the assurance of both effectiveness and efficiency in analyzing decision problems. [1] In that sense, decision quality can be seen as an extension to decision analysis. Decision quality also ...
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.
Philosophers have sought to eliminate these contradictions by locating right and wrong in a single part of the decision-making process: for example, in the actions we take (e.g. Kant), in our character (e.g. Aristotle, virtue ethics) or in the consequences of our actions (e.g. Utilitarianism).
Heuristics (from Ancient Greek εὑρίσκω, heurískō, "I find, discover") is the process by which humans use mental shortcuts to arrive at decisions. Heuristics are simple strategies that humans, animals, [1] [2] [3] organizations, [4] and even machines [5] use to quickly form judgments, make decisions, and find solutions to complex problems.
Sketch of the Cynefin framework, by Edwin Stoop. The Cynefin framework (/ k ə ˈ n ɛ v ɪ n / kuh-NEV-in) [1] is a conceptual framework used to aid decision-making. [2] Created in 1999 by Dave Snowden when he worked for IBM Global Services, it has been described as a "sense-making device".
Strategic planning is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals.. Furthermore, it may also extend to control mechanisms for guiding the implementation of the strategy.
Data-informed decision-making (DIDM) gives reference to the collection and analysis of data to guide decisions that improve success. [1] Another form of this process is referred to as data-driven decision-making, "which is defined similarly as making decisions based on hard data as opposed to intuition, observation, or guesswork."
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 ]