Decision Making Process
Decisions in the current pandemic situation emerge from the assumptions that the businesses are affected by the health issue. I have made decisions to close the family business with assumptions that consumers will reduce due to the measurements applied to limit the spread of the virus. I assumed that the hotel business would be affected by the rules for individuals to avoid social activities. The assumptions turned out wrong after new measures were introduced for individuals to use face masks and maintain social distance. Adapting to the new situation includes reopening the business and implementing policies that ensure profitability while reducing the spread of the virus.
Decision-making models guide individuals in making the right decisions at the right time. The benefits of the models are to guide individuals, especially in businesses, to develop processes to decision making according to time (Zsambok & Klein, 2014). Setting strategies through decision aiming models enables individuals to react fast to issues and make the management process reliable in different factors. The models help individuals to set objectives for their decisions according to available data. Despite the benefits, decision-making models are time-consuming, especially when they involve collection, analysis and interpretation of data. Lack of sufficient information on some models may lead to ineffective decision making. Some models, such as the intuitive model involve feelings and may tamper with the objectives of the organization.
When collecting data for strategic decision making, the objective of the process should be defined to ensure no conflicts of interests. These factors goal is achievable and measurable to ensure the researchers do not waste time on unnecessary data (Janssen et al., 2017). Other conditions include the type of data to get collected and the methods that would get adopted to collect the data. These conditions enable the researcher to assign tasks and define the time taken in collecting and analyzing data. The conditions also help in determining the location and results to get expected through the data analysis.
References
Janssen, M., van der Voort, H., & Wahyudi, A. (2017). Factors influencing big data decision-making quality. Journal of Business Research, 70, 338-345. https://www.sciencedirect.com/science/article/pii/S0148296316304945
Zsambok, C. E., & Klein, G. (Eds.). (2014). Naturalistic decision making. Psychology Press. https://books.google.com/books?hl=en&lr=&id=jO17AgAAQBAJ&oi=fnd&pg=PP1&dq=+DECISION+MAKING+MODELS+YOU+&ots=AYkq7tw66c&sig=Vv-ezXuruxC80Wxx9netn14lY8g