Strengths & Weaknesses in Styles
There are many different decision making styles and no right or wrong one. “Decision making involves uncertainly and risk, and decision makers have varying degrees of risk aversion” (Bianco, 2010). Rational, and intuitive are just two styles out of a list of many. The approach people take to decision making may be how they see a specific decision. Rational decision making is a method used to analyze information through an organized process. The pros of rational decision making is reasonability, self-control and an unbiased approach to the thinking process. A “rational” thinker will think, decide and act. The weakness in rational thinking is no veering off, lacks creativity, no emotional connection and also “this process is slow, verbal, non-emotional components (Epstein & Pacini, 1999) . Intuitive decision making is “describing something that is know, perceived, understood or believed by instinct” (When is intuitive decision making beneficial?, 2010). Quick decisions, gut feeling, experience are all factors in intuitive decision making. Life and work are all un predictable, making a quick choice, decision, and using the creative mind and instincts makes intuitive process of thinking a favorable one when quick fixes or gut feeling takes over. “Entrepreneurs are famous for making seat-of –the-pants decisions, they are often forced to make decisions under conditions of uncertainty and without all the necessary information” (Bianco, 2010). The down side to intuitive process is remorse, emotional bias and un-rational. A combination of intuitive and rational style can be a benefit to all. Not everything is cut and dry in the real world, as in rational decisions making and not all decisions can include emotions, but when dealing with people emotions do need to be taking into consideration and the rational side will help delve more into the problem needing to be solved. People process information differently and are made to...
References: Bianco, D. P. (2010). Decison Making. Retrieved from http://www.referenceforbusiness.com
Epstein, S., & Pacini, R. (1999). Dual-Process Theories in Social Psychology. New York, NY: The Guilford Press.
When is intuitive decision making beneficial? (2010). Retrieved from http://www.decision-making-solutions.com
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