Decision Making Essay

The process of decision-making can be very complicated if decision-makers apply ineffective tools. In this respect, the simulation reveals the application of tools and techniques which can facilitate the process of decision-making consistently and make it very effective. In fact, there are two basic tools that were applied in the simulation: metaphorical thinking and the importance weighing.

Firstly, metaphorical thinking allows a decision-maker to view the problem in a larger, context. Through the abstraction from the concrete and specific issue and interpretation of the problem in a metaphoric way, the decision-maker can find analogical situations and problems when effective decisions were taken. In other words, metaphorical thinking helps the decision-maker to apply a systematic approach to the process of decision-making, when the decision maker relies on common practices and analyses the situation objectively, using comparison to similar situations and analogies to solve the problem. The importance weighing is also important since it helps the decision-maker to clearly define priorities which should be taken into consideration while taking the decision. In other words, the decision-maker can clearly define the main goals which should be met in the result of decision-making. Thus, the use of critical thinking allows analyzing the problem objectively and find plausible and the most effective solution that provides the possibility to take effective decisions.

Furthermore, the four key points that were emphasized in the simulation mirrors the steps that should be taken in the process of effective decision-making. Firstly, it is framing of the problem, which allows understanding the essence of the problem. Secondly, making the decision proper, which is followed by the evaluation of the decision.

The latter helps to define the extent to which the decision is effective. Finally, the discussion of fallacies presented in the simulation reveals weak points of decision making.

Thus, concepts of supply and demand can be very important for decision making because they allow taking a balanced decision.