Well as we were told today once again an MBA is all about decision making. Various models exist for the same as i studied in my Organization Behaviour II in the last sem with these being: Rational model, Carnegie model, Incrementalist model, Unstructured model and Garbage Can model.
Time and again we have studied the rational method to be the best for it requires examining all the options. May seem inviable and impossible and so there is the concept of bounded rationality. But do we really go about using them in our lives. When it comes to corporate decisions then we make use of several models and different evaluation criteria for optimality but when it comes to our personal lives the answer is totally different.
Like an example discussed in our marketing class. Selection of a bride. This is one of the most important decision of our lives but how do we go about it????
Most of us outsource the decision to a third party (parents)- But is it so that when and if things go wrong we have someone to blame for the same.
Or if we take our personal decisions we may examine a range of possibilities but do not go about the process in a manner that can give us an optimal answer.
So how to go about this task. Firstly we need to identify the attributes. As per some study the major ones are- A,B,C,D,E,F.
Age
Beauty
Character
Dowry (something i am against)
Education
Family
The second step involves quantification. We need to assign values to these attributes for each candidate. Qualitative attributes can be assigned relative values.
Now all that is required is a simple use of excel and solver to get an optimum value that maximizes our utility.
But would a girl go about marrying a guy if she comes to know that such a method was used?????? (maybe yes- she may even be proud of being the best among the list and love you for that)
So is this a good way......... Decide for yourselves