Routine and Intuitive Decisions

Topics: Decision making, Decision theory, Cognition Pages: 2 (460 words) Published: March 9, 2013
Routine and Intuitive Decisions. The power of intuition in decision making. As our life becomes more dynamic and less structured, intuition gains more and more recognition as an essential decision making tool. You have probably heard of experienced decision makers who are able to directly recognize the best option or course of action in many tricky situations. The solution just comes to them from somewhere in their subconscious mind, instead of being a result a lengthy chain of logical derivations or a computer output. Yes, intuition can make you a much more effective decision maker, especially when you deal with non-standard situations or in expedient decision making. Yet, before you put more weight on intuitive choices, there are a few important points you need to keep in mind.When do you need intuition?Decision making situations where intuitive approach can help most include the following. * Expedient decision making and rapid response are required. The circumstances leave you no time to go through complete rational analysis. * Fast paced change. The factors on which you base your analysis change rapidly. * The problem is poorly structured. * The factors and rules that you need to take into account are hard to articulate in an unambiguous way. * You have to deal with ambiguous, incomplete, or conflicting information. * There is no precedent.Decisions are very important part in life; we take decisions at every moment in daily routine. If we choose a TV program to watch among several programs it means we took decision about which program to watch. Decision is a choice made from available alternatives.There are two types of decision: •    Programmed Decisions

•    Non-programmed Decisions Programmed Decisions It involves situations that have occurred often enough to enable decision rules to be developed and applied in the future. These decisions are those that have been made persistently in the earlier period that managers have developed rules or...
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