The Decision-Making Process, Essay Example

Situations arise in the workplace where one has to think critically to make the best decision amongst a variety of choices (Yu, 2010). We consider the case of a corporate acquisition officer for a large oil company. This company has an interest in acquiring an additional small to medium-sized renewable energy company (solar, wind, ET cetera.), in order to diversify its capabilities. The problem is to make a decision on what company the organization should acquire and why the choice.

We apply the six-step rationale decision-making model to help the corporate acquisition officer come up with a decision (Yu, 2010)

• Defining the problem- The large oil company has identified an inconvenience that arises when there is a black out. The available facilities to cumber the problem are inadequate.
• Identifying the approach or criteria for the solution- Some additional small to medium sized renewable energy company needed.
• Weighing the criteria – Every implementation accompanies expenses. The company has to measure the acquisition of the energy company in terms of the monetary value needed to acquire the renewable energy company.
• Generating alternatives – The oil company has a choice of acquiring a solar, or wind Energy Company. Either of the two can work efficiently.
• Rating alternatives according to the criteria – the two alternatives studied critically to identify the most efficient. A solar energy company, for example, cannot do well in a place experiencing winter most of the time.
• Computing the optimal decision – after analyzing the two alternatives internally, and considering the most appropriate, the corporate acquisition officer then makes a strong

This model employs a process that identifies and selects an outcome that brings in maximum value to the organization (Yu, 2010). It is a precise essential decision making model.

Reference

Yu, H. (2010), Business Communication Quarterly, Vol. 73(1), p21-39.