Decision Making Methods

In this discussion, we will talk about group decision-making methods such as the Delphi technique. A group decision-making is a way to gather all the knowledge in one place to make an optimal decision without relying on the knowledge of one person. It is also a method to filter out any bad decisions among the group. The Delphi technique, also known as Delphi procedure, is a repeatable method to ask the discussion group with questionnaires to gather all the best opinions until a group consensus is reached (Hasson F, Keeney, & McKenna, 2000). The main feature of this method is the anonymity factor. The members who participate in the decision-making process will not share their identities, thus making them feel comfortable sharing their honest opinions and avoiding any appeals to authority later on. The disadvantages of the Delphi technique is that the procedure required the participants to have continued commitments to answer similar questions multiple times. 

Another method is Hoy-Tarter model which focuses on the selection process of who should be included in the decision-making process. In a business, making the right decision is vital to the owners and he or she can use Hoy-Tarter model to choose who or what should include in the process. The drawback for this method is the mistake of making the bad selection and it can ruin the decision entirely. Looking at another decision-making method is the Modified Borda Count model, which is the extension of the multi-voting model. The participants will be given a ballot to vote for ideas that they support. The weighted value of each idea is determined by the points from the voters. The winning idea will be the one that got the highest numbers of points. Due to its voting characteristic, the method can lead to tactical voting, when a voter supports another candidate more strongly than their sincere preference in order to prevent an undesirable outcome (“Seven Methods for Effective Group Decision-Making,” 2018). 

In a competitive market, quality decision making is essential to the success of a company. Therefore, having a plan in mind to make the right decision is parts of the decision-making process.

Reference:

Hasson F, Keeney S, and McKenna H. Research guidelines for the Delphi survey technique. Journal of Advanced Nursing , 32 (4), 1008–1015. doi:10.1046/j.1365-2648.2000.t01-1-01567.x

Seven Methods for Effective Group Decision-Making. (2018, January 19). Retrieved from http://www.free-management-ebooks.com/news/effective-group-decision-making/