Order from us for quality, customized work in due time of your choice.
The Business Decision Model represents a framework of perceiving, organizing, and managing the logic of businesses and the intentions behind making a particular decision. In general, the logic of the model is a set of business rules that are represented as separate elements that lead to conclusions (Anderson et al. 2016). Therefore, it is a prescription for the way in which business experts evaluate facts in order to make conclusions that would have some degree of value to the businesses. The logic followed by experts making decisions about business is usually intellectual in nature and uses the knowledge and expertise to reach beneficial outcomes.
In business logic, conclusions are made with the help of relying on facts. For example, an individual who has not been employed anywhere for the past five years is seen as having poor job history. Following this logic, the person may not be a desirable worker for an organization. If one to apply the business decision model to everyday life, it is expected to use the knowledge and previous experiences to reach an outcome. According to García, Hernández, and Hernández (2017), the decision model can be applied to such mundane things as choosing between cupcakes and croissants when going shopping (p. 8). The following process is implemented in accordance with the model:
-
Defining the problem: choosing cupcakes or croissants to get for breakfast at a local bakery;
-
Obtaining data: collecting information about the range of cupcakes and croissants available at the bakery;
-
Establishing alternatives: chocolate cupcakes and chocolate-filled croissants;
-
Evaluating alternatives: evaluate the criteria of the products, including their weights, attributes, and other requirements. E.g., the criteria of flavour, price, the convenience of storage, exploration dates, weight, volume, and refrigeration requirement.
-
Comparing alternatives: comparing between the criteria of the alternatives;
-
Making decisions: choosing the alternative has the most positive criteria as related to the comparison.
Therefore, everyday decision-making can align with the business logic that is based on knowledge and facts associated with the characteristics of alternatives that are being chosen for consideration. The step-by-step breakdown of the stages necessary to decide shows that initial findings and analysis of other options leads to conclusions. Therefore, people weigh the advantages of an item against its disadvantages and make inferences regarding the positive and negative outcomes of the decision. This shows that the Business Decision Model can be used in multiple situations and contexts, not necessarily including business as an aspect.
Summary
The paper by García et al. (2017) is important for the understanding of the Business Decision Model in various contexts. The process of decision-making is usually applied to corporate settings, with the expected outcomes targeted at attaining financial success.
However, the model can be used in everyday tasks and mundane decisions. The example with choosing between a cupcake and a croissant shows that the decision-making process implies the measurement of characteristics of different options and making inferences about the outcomes of selecting either of the decisions. Furthermore, if a decision is found to have adverse outcomes, conclusions for further actions will be made. In the future, when a similar situation occurs, an individual will rely on previous experiences with choosing one alternative over another. Overall, the resource is valuable for furthering ones understanding of the Business Decision Model and its applications not only in corporate but also in everyday life.
References
Anderson, D. R., Sweeney, D. J., Williams, T. A., Camm, J. D., Cochran, J. L., Fry, M. J., & Ohlmann, J. W. (2016). Quantitative methods for business with Cengage NOW (13th ed.). Boston, MA: Cengage Learning.
García, M., Hernández, G., & Hernández, J. (2017). Decision making process in everyday life. Document Presented at Dissemination of Knowledge Generated by the Interaction of Fields of Knowledge, 1-13. Web.
Order from us for quality, customized work in due time of your choice.