The rational model of decision-making feels familiar, intuitive, even obvious to most of us. This is true despite the fact that few of us follow a well-defined process consistently. Inconsistency in the process is reflected in poor decision quality, failure to achieve objectives, or undesired or unexpected outcomes.
Versions of the rational model are available from various sources, though many do not identify the process by this name. Ranging from four to eight steps, the description of each varying significantly, these sources offer a wide variety of perspectives on the classic sequential decision-making process. Fundamentally, however, each is simply an interpretation of the rational model of decision-making.
Given the importance of decision-making in our personal and professional lives, the topic receives shockingly little attention. The potential consequences of low-quality decisions warrant extensive courses to build critical skills, yet few of us ever receive significant instruction in decision-making during formal education, as part of on-the-job training, or from mentors. It is even under the radar of many conscientious autodidacts. The “Making Decisions” series of “The Third Degree” aims to raise the profile of this critical skillset and provide sufficient information to improve readers’ decision-making prowess.
It is helpful, when beginning to study a new topic, to familiarize oneself with some of the unique terminology that will be encountered. This installment of “Making Decisions” will serve as a glossary for reference throughout the series. It also provides a preview of the series content and a directory of published volumes.
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