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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. It could be either rational or irrational. The decision-making process is a reasoning process based on assumptions of ...
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.
Cynefin framework. The Cynefin framework as revised. The Cynefin framework (/ kəˈnɛvɪn / 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". [3][4] Cynefin is a Welsh word for 'habitat'. [5]
Group decision-making (also known as collaborative decision-making or collective decision-making) is a situation faced when individuals collectively make a choice from the alternatives before them. The decision is then no longer attributable to any single individual who is a member of the group. This is because all the individuals and social ...
A cognitive bias is a systematic pattern of deviation from norm or rationality in judgment. [1] Individuals create their own "subjective reality" from their perception of the input. An individual's construction of reality, not the objective input, may dictate their behavior in the world. Thus, cognitive biases may sometimes lead to perceptual ...
Satisficing is a decision-making strategy or cognitive heuristic that entails searching through the available alternatives until an acceptability threshold is met. [1] The term satisficing, a portmanteau of satisfy and suffice, [2] was introduced by Herbert A. Simon in 1956, [3] [4] although the concept was first posited in his 1947 book Administrative Behavior.
Framing effect (psychology) The framing effect is a cognitive bias in which people decide between options based on whether the options are presented with positive or negative connotations. [1] Individuals have a tendency to make risk-avoidant choices when options are positively framed, while selecting more loss-avoidant options when presented ...
t. e. In strategic planning and strategic management, SWOT analysis (also known as the SWOT matrix, TOWS, WOTS, WOTS-UP, and situational analysis) [1] is a decision-making technique that identifies the strengths, weaknesses, opportunities, and threats of an organization or project. SWOT analysis evaluates the strategic position of organizations ...