this is a mistake.

1. Pros and Cons
PROS CONS
• The best model to • Expensive Process
identify and verify the • Time Consuming
problem Processes
• The best solution to • Delays in Decision
the problem identified Making
• Making decisions
• Reduce the complexity
in the processes
• Unambiguous process
Retrieved from http://leadership-management.knoji.com/is-the-rational-decision-making-method-right-for-your-organization/

2. Example
1) You wish to buy a new and expensive laptop and
trying to decide on a particular brand consults with
a number of friends and relatives.
2) You decides to purchase ACER. While at the store,
the saleswoman, explains and proves to John that
he can do much better with his budget if he goes
for APPLE gives better value for money with respect
to cost, performance and fidelity, design, warranties
as well as style.
3) You nevertheless, even if he would receive more
value for his money with APPLE being the rational
choice, opts for ACER.
Retrieved from http://suite101.com/article/bounded-rationality-a255278

3. Pros and Cons
PROS
• Faster in making the
decision
• The most satisfying
decision making
CONS
• Not the best
solution
• Having flaw

4. INTUITION
• Intuitive Decision making;
– It’s making decision based on the basis of experience, feelings and
accumulated judgment.
• Decision making situations where intuitive approach can help most
include the following:
– Expedient decision making and rapid response are required.
– 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.
Retrieved from http://www.time-management-guide.com/intuition-decision-making.html

5. INTUITION
 3 key features that characterize the intuitive mode of
thinking:
 The process is dominated by your subconscious mind, even
if you use your conscious mind to formulate or rationalize the
final results.
 The information is processed in parallel rather than
sequentially. Instead of going through a logical sequence of
thoughts one by one, you see the situation more as a whole,
with different fragments emerging in parallel.
 You are more connected with your emotions. For example, it
may occur to you that an option you consider does not feel
right, even though there is no clear logic to prove that.
Retrieved from http://www.time-management-guide.com/intuition-decision-making.html

6. Types of Intuition
• Primitive instincts of self-preservation
• Conditioned emotional responses, which range from fear,
aversion, suspicion, attraction, and attachment.
• Bodily intuition includes messages about bodily needs and
conditions.
• Mystical intuition encompasses a wide variety of subjective
experiences
• Interpersonal intuition refers to the ability to pick up clues
about relationships.
• Practical intuition – in solving everyday problems, the capacity
of anticipating the problem and finding the best solution,
quickly and effortlessly.
• Expertise intuition is domain-specific and it is closely related
to expert knowledge and critical insight.
Retrieved from http://www.drpaulwong.com/index.php?view=article&catid=42%3Acl&id=77%3Aintuition-the-best-kept-secret-for-survival-
and-success&tmpl=component&print=1&page=&option=com_content&Itemid=59

7. Examples
1. Bill Gates says, "you cannot ignore your intuition." Oprah states, "My
business skills have come from being guided by my intuition", and
Donald Trump admits in his book, "I've built a multibillion dollar empire
by relying on my gut instinct”.
2. A fire chief who, shortly after entering a burning house, commanded all
his men leave the house immediately without really understanding why.
He said the decision came from his gut, that “something wasn’t right”
and he wanted his men out of the house.
3. Ray Croc bought the McDonalds franchise in the initial stages of its
development for what was an exorbitant price. He couldn’t afford it but
said ‘My funny-bone instinct kept urging me on.’
4. Conrad Hilton was bidding on the world’s largest hotel and the amount
that apparently popped into his head was only 200 dollars higher than
the next bid. He described problem solving as ‘I keep listening in a sort
of inside silence until something clicks and I feel a right answer.
Retrieved from http://annhawkins.com/2010/05/why-should-you-trust-your-business-intuition/

8. Pros and Cons
PROS CONS
• Quick decision • Flawed information
• Helps ensure that it • Short term emotional
takes into account what bias
you really care about • Insufficient
because you have consideration of
positive feelings about alternatives
the decision you will be • Risque
well motivated to carry
it out. • Prejudices
• Lack of openness
Retrieved from http://www.rapid-business-intelligence-success.com/intuitive-decision-making.html ,
http://www.decision-making-solutions.com/intuitive_decision_making.html

9. Way to Improve Decision Making
• Use a structured process when time allows
• Reflect on a decision before implementing
• Examine beliefs
• Communicate
• Learn to recognize and interpret your
emotions
• Situational assessment and case studies
Retrieved from http://www.decision-making-solutions.com/intuitive_decision_making.html