Decision Making Process

Using the Five Step Decision Making Process presented in Chapter 1, examine a recent decision you made (e.g., go to college, take a new job, buy a house, or buy a phone). Identify each step of your decision by the criteria of this process.

1. Identify the problem and uncertainties

2. Obtain information

3. Make predictions about the future

4. Make decisions by choosing among alternatives

5. Implement the decision, evaluate performance and learn.