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There are many different models for decision making pertaining to classical and behavioral like satisficing. Satisficing refers to the satisfaction of how you do something or the outcome of it. When you are looking at the satisficing of something you are giving your best effort in completing that task effectively. There are perspective theories which talks about how someone says they are going to do an idea but in the end they it turns out to be the opposite sometimes. There are also other types of models for decision making like descriptive theories. Descriptive theories explain the ways certain things work like how they are going to do and what tools they are going to end up using. Another type of classical and behavior models for decision making is optimizing decision making which is where you you observe the different types of ideas you have and choose the one that best fits you and your needs.
The examples that were made using satisficing in regards to my real life situations would be that they used prescriptive theory in which they provided certain rules that we need to use for gathering information together to use when the time is needed. The also used what is called descriptive theory which helps people make the right choices they need. The garbage can model used in this case is where they provide example pertaining to my real life situations. The garbage can model shows the way problems can be solved. Along the way there can be some complications but with this model it demonstrates how things can be solved through those complications.
The examples use when it comes to optimizing decision making are writing down multiple ideas that I have when it comes to deciding for my business. I think of things I would like to create. For example, a clothing business wanted different kind of fabric and designs. I would have to pick the best choice that fits the company and peoples interests. I would make a chart of the different types of styles for clothing. I would also use whats called a model which will show some of the designs I am focusing on creating. I also use a paper and ask people what they would prefer then write them down. I would also use an example of optimization models which will help me figure out where I want to start my business and what partnerships if any. Lastly, another example I have used is a chart for my financial statements to keep track of everything.
References
- https://www.investopedia.com/terms/s/satisficing.asp
- https://study.com/academy/lesson/the-garbage-can-model-of-decision-making.html
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