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##### -Step Critical Thinking Decision-Making Process Matrix

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5-Step Critical Thinking Decision-Making Process Matrix;Step 1: Identify the problem(s) and uncertainties.;What exactly is the problem;(Study the problem to clarify what you need to know to solve it. Distinguish problems over;which you have some control from problems over which you have no control. Pay special;attention to controversial issues in which it is essential to consider multiple points of view.);The problem is this;(Write out the problem clearly and precisely, with details. Write the problem in different ways;until you get it perfectly clear in your mind.);This is an important problem because;(Remember in business, a problem is important if it affects the bottom line. So how does this;problem affect the bottom line (net income).;The key question(s) that needs to be answered to solve this problem is;(Every problem has questions connected to it. Here we want you to write out the most important;question(s) you need to answer to solve the problem. State it clearly and precisely. Being specific;is very important.);Step 2: Obtain information.;The following information is needed to answer this question;(Here you are looking for the facts and/or data that help you solve the problem. Actively seek the;information most relevant to the question. Include in that information options for action, both;short-term and long-term. Recognize limitations in the terms of resources such as money, time;and people.);Some important assumptions I am using in my thinking are;(Figure out what you are taking for granted. Make sure these assumptions are reasonable. Watch;out for self serving or unjustified assumptions.);The points of view relevant to this problem belong to;(Who are your stakeholders? Determine whether the stakeholders point of view is relevant.);Note: Remember to view the information you have obtained for potential bias. This is from the;perspective of your own bias to the research and the bias of the authors who compiled the data;and the research you gathered. In other words, do not discount the importance of others data;because of your own bias(is).;Step 3: Make predictions about the future.;If this problem gets solved, some important implications are;(Evaluate options, taking into account the advantages and disadvantages of possible decisions;before acting. What consequences are likely to follow from this or that decision?);If this problem does not get solved, some important implications are;(Evaluate options, taking into account the advantages and disadvantages of possible decisions;before acting. What consequences are likely to follow from this or that decision?);The potential alternative solutions to solve the problem are;(If the problem involves multiple conflicting points of view, you will have to assess which;solution is the best.);Note: if the problem is one-dimensional, there may be just one correct solution.;Step 4: Make decisions by choosing among alternatives.;What is the best solution and why;(After following the process above, I think the best solution to the problem is Defend your;recommendation.);Step 5: Implement the decision, evaluate performance, and learn.;In business, the fifth step in the decision making process is implementation. In the MBA;program, most times you will end with Step 4 since you will not have the opportunity to;implement. You may be asked to develop an implementation plan and recommend how you will;evaluate performance in some assignments.

Paper#17407 | Written in 18-Jul-2015

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