The key is to generate lots of potential ideas early in the decision making process. Avoid early filtering. Multiple people in the group can help achieve this but the leader must limit criticism.
The group must then look at combinations of the ideas and find ways around objections or problems with ideas. Only then should the range be narrowed and analyzed.
This approach has been tested and proven to be the best way to apply creativity to decision making.
Explain Managerial economics is economics applied in decision making?
What are the different approaches which can be applied in each condition?
After you have taken action
Derek W. Bunn has written: 'Analysis for optimal decisions' -- subject(s): Decision making, Management science 'The synthesis of forecasting models in decision analysis' -- subject(s): Bayesian statistical decision theory, Decision making, Forecasting, Mathematical models 'Applied decisionanalysis' -- subject(s): Decision making, Decision-making, Mathematical models
In 3M's efficiency and creativity conundrum, intuition and creativity are essential for fostering innovation while balancing operational efficiency. Intuitive decision-making allows employees to explore unconventional ideas that can lead to breakthrough products, while creativity drives the development of solutions that enhance productivity. However, the challenge lies in ensuring that the push for efficiency does not stifle creative thought, which is crucial for maintaining 3M’s reputation for innovation. Thus, nurturing an environment that values both intuition and creativity is vital for sustainable growth.
The maximin strategy is a decision-making approach that focuses on maximizing the minimum possible outcome. It involves identifying the worst-case scenario and choosing the option that provides the best outcome in that situation. This strategy can be applied in decision-making processes by prioritizing risk management and ensuring that the chosen option offers the most protection against potential losses.
CREATIVITY
Unstructured decision-making is a process where decisions are made without a predetermined set of procedures or guidelines. It often involves complex and ambiguous problems that do not have clear solutions. This approach allows for flexibility and creativity in problem-solving.
The concept of 2x2 framing can be applied in business decision-making by organizing options into four quadrants based on two key factors. This helps to visually compare and prioritize choices, leading to more informed and strategic decisions.
The purpose of the universalizability test in ethical decision-making is to determine if an action is morally acceptable by evaluating whether it can be applied consistently to all similar situations without leading to contradictions or negative consequences.
Decision making is the process by which a decision is made. Communicating, when it comes to decision making, is the way the information about that decision is distributed to ensure everyone is aware.
Logical abstraction can be applied in problem-solving and decision-making by breaking down complex problems into simpler components, identifying patterns and relationships, and using logical reasoning to analyze and evaluate different options. This helps in making informed decisions based on sound logic and reasoning, leading to more effective problem-solving outcomes.