Decision Making Tools and Techniques Whereby 6 Term Paper

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decision making tools and techniques whereby 6 Thinking Hats has been chosen as one of its tools. This decision making tool is widely used in the business world of today.

THINKING HATS

DECISION MAKING

Decision making in science and indeed any other field of study is a difficult thing and for this, one needs to understand what are the basic ways in which a decision can be arrived at, without wasting much time and using the best tools and techniques in order to achieve the same. These decisions are very crucial to the outcome of a project but certain things should be kept in mind that information is the single most significant thing in this whole process. Decision-making is indeed a very complex and well-developed area, one that has to be looked at by the researchers and lecturers with particular care. This paper is about the decision-making tools and techniques whereby 6 Thinking Hats has been chosen as one of its tool.

TOOLS AND TECHNIQUES

With the usage of the tools that will be listed below, one would easily see for him or her that there are a number of ways in which a decision can be made within virtually no time. There are however individual factors that might go a long way in changing the trend of the decisions that have to be made in the broader context.

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There are a number of powerful and spell bounding techniques in Paired Comparison Analysis, Grid Analysis, Decision Trees, Force Field Analysis, Pareto Analysis and Cost/Benefit Analysis to name a few. We have chosen 6 Thinking Hats for this paper.

THINKING HATS

This is one of the most important and powerful decision-making techniques in practice today. This technique basically employs at looking on decisions from different perspectives and paradigms. IT would not be wrong here to state that all these six different and varied perspectives are truly and individually important to the outcome of the result, i.e., the decision that has to be eventually arrived at. In order to deduce a decision, one has to stray outside the usual way of one's thinking style, which is more or less based on his or her habit at the best of times. Ultimately, this facilitates in giving a more rational and complete view of the situation as a whole. 6 thinking hats - the tool was created by Edward de Bono and was a part of his book, which was incidentally named as '6 thinking hats'.

People think in different ways. They can either be positive about something or be very pessimistic about an approach. Nevertheless, the positive approach is the one, which is more….....

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