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What are some common decision-making models and how can you use them to resolve conflicting opinions?

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Decision-making is a crucial skill in any field or situation, but it can also be challenging when you face conflicting opinions from different sources or stakeholders. How can you make informed, rational, and effective choices that satisfy your goals and values, as well as those of others? One way to approach this problem is to use decision-making models or frameworks, which are systematic methods or tools that help you analyze, evaluate, and compare different options and outcomes. In this article, we will explore some of the most common decision-making models and how you can use them to resolve conflicting opinions.

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Anita NGONO?

Front Office Business Analyst ????| Optimizing front office workflows, trading & portfolio management systems.
Ricardo Chang

| Strategic Business Manager | BDM | Sales & Commercial | B2B & B2C | Disruptive Innovator | Mentor
James McTigue

Servant Leader + Team Builder + Business Operator

1 Rational Model

The rational model is based on the assumption that you have clear and consistent objectives, complete and accurate information, and logical and unbiased reasoning. It involves four steps: defining the problem, identifying and weighing the criteria, generating and evaluating the alternatives, and choosing and implementing the best solution. The rational model can help you make objective and consistent decisions, but it can also be limited by the complexity and uncertainty of real-world situations, as well as the cognitive and emotional biases that affect your judgment.

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James McTigue

Servant Leader + Team Builder + Business Operator
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Leonnard Hand was kind enough to gift the world with his "Calculus of negligence" used in determining liability in negligence proceedings. The calculus goes by many names, most notably "The Hand Rule" and it allows us to evaluate not only liability, but opportunity cost. It is incredibly useful as an initial litmus test for whether or not an idea is worth pursuing further.

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2 Intuitive Model

The intuitive model is based on the assumption that you can rely on your instinct, experience, and insight to make quick and effective decisions, especially when you face time pressure, ambiguity, or uncertainty. It involves using heuristics, which are mental shortcuts or rules of thumb that simplify the decision process, or using your gut feeling, which is an emotional or subconscious response that guides your choice. The intuitive model can help you make creative and flexible decisions, but it can also be influenced by overconfidence, stereotypes, or emotions that distort your perception.

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Ricardo Chang

| Strategic Business Manager | BDM | Sales & Commercial | B2B & B2C | Disruptive Innovator | Mentor
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Este modelo se basa en la idea de que la intuición y la experiencia pueden proporcionar una comprensión rápida y precisa de las situaciones y de las decisiones a tomar. El modelo intuitivo se opone al modelo analítico, que se basa en la recolección y análisis de información para tomar decisiones. La diferencia fundamental entre ambos modelos es que el modelo intuitivo se basa en la confianza en la intuición y la experiencia, mientras que el modelo analítico se basa en la recolección y análisis de información.

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Anita NGONO?

Front Office Business Analyst ????| Optimizing front office workflows, trading & portfolio management systems.
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Votre intuition est un outil puissant, mais elle n'est pas infaillible. Il est sage de l'examiner critique, en questionnant les préjugés sous-jacents qui pourraient l'influencer. Prenez un moment pour réfléchir : cette décision est-elle basée sur une intuition véritable ou est-elle le résultat d'un excès de confiance, de stéréotypes ou d'émotions qui pourraient fausser votre jugement ?

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3 Pros and Cons Model

The pros and cons model is based on the assumption that you can compare the advantages and disadvantages of each option and choose the one that has the most net benefit or the least net cost. It involves listing the positive and negative aspects of each alternative, assigning a value or weight to each aspect, and adding up the scores to determine the best option. The pros and cons model can help you make simple and transparent decisions, but it can also be affected by the subjective or inconsistent values that you assign to each aspect.

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Austin Danner

| Sales | Strategy | Brand Growth |
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This is often the first place to start. Drilling down to pull the most advantageous answer is a great way to get early clarity. We always have to run this through an objectivity test, but it is the trusted model.

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4 Vroom-Yetton Model

The Vroom-Yetton model is based on the assumption that you can choose the appropriate level of participation and involvement of others in the decision process, depending on the situation and the criteria. It involves answering a series of questions that determine whether you should make the decision alone, consult with others, or delegate the decision to a group. The Vroom-Yetton model can help you make collaborative and democratic decisions, but it can also be complicated by the diversity and dynamics of the group, as well as the time and resources available.

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5 SWOT Analysis

The SWOT analysis is based on the assumption that you can assess the internal and external factors that affect your decision and identify the strengths, weaknesses, opportunities, and threats of each option. It involves creating a matrix that summarizes the positive and negative aspects of each alternative, as well as the potential risks and benefits that they entail. The SWOT analysis can help you make strategic and comprehensive decisions, but it can also be influenced by the availability and reliability of the information, as well as the changing and competitive environment.

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Anita NGONO?

Front Office Business Analyst ????| Optimizing front office workflows, trading & portfolio management systems.
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Encouragez l'échange d'informations au sein de votre équipe. Cela enrichira votre analyse avec des perspectives diversifiées et diminuera les risques d'omissions critiques. Les opinions contradictoires ne sont pas des obstacles, mais des opportunités pour affiner votre compréhension et renforcer votre stratégie.

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Austin Danner

| Sales | Strategy | Brand Growth |
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I live by this method: Start by assuming that there are internal and external factors that come into play. Note them and move on to a pros and cons list for each internal and external factor. Asses the data and choose i like the one that has the most straightforward implementation.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What are some common decision-making models and how can you use them to resolve conflicting opinions?

1

2

3

4

5

6

1 Rational Model

2 Intuitive Model

3 Pros and Cons Model

4 Vroom-Yetton Model

5 SWOT Analysis

6 Here’s what else to consider

Critical Thinking

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What are some common decision-making models and how can you use them to resolve conflicting opinions?

1

2

3

4

5

6

1 Rational Model

2 Intuitive Model

3 Pros and Cons Model

4 Vroom-Yetton Model

5 SWOT Analysis

6 Here’s what else to consider

Critical Thinking

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