Decision Making

Decision Making

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  • Evidence-Based Decision Making
  • We should start by looking at relevant evidence and analyzing it 
  • This should at least set us in the right direction
  • We need to decide on a plan that will propel our startup to the next level
  • Rational Decision Making
  • We just have to choose and implement the best alternative
  • In order to resolve this conflict, we need to use logical reasoning and deliberate analysis
  • But bounded rationality can occur due to bias and overanalyzing
  • Compromising
  • What if instead of using everything from my plan, we implement your begining ideas and my closing plans
  • We need to reach a mutually accepted solution
  • Sounds like a plan to me! Thankfully we came to a compromise
  • Maslow's Hierarchy of Needs
  • Hmm, maybe I can influence my employees by fulfilling their needs... 
  • This will definitely increase motivation!
  • I need to ensure that their physiological, safety, friendship, esteem and recognition, and self actualization are met!
  • I need to fulfill my employee's growth, relatedness, and existence needs...
  • I can do this by offering protection and reassuring job security, being friendly
  •  and recognizing my employees, and offering promotions to those who deserve them...
  • Alderfer's ERG Theory
  • McClelland's Learned Needs Theory
  • I need to strive to learn and acquire 3 needs in varying strengths and intensities 
  • These will be important in my development
  • I need to fulfill my need for affiliation, achievement, and power in different amounts
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