SWOT analysis is very instrumental at this stage. One can also employ the use of well structured questionnaires so as to achieve broader and a deeper scrutiny of a problem or situation.
d). Developing options
At this stage one should come up with several probable options to the solution of a problem. Creativity is of essence here since it will help narrow down to the fewer most probable decision options. As the brands manager, I will have to look at the options of repackaging, re-branding, re-labeling, shifting the market focus, changing the product and so many other options that may be on the desk for consideration. At this stage I will use my creativity to close out some options that are further from the solution and concentrate on those that are close to the solution.
e). Evaluating alternatives
Once the alternatives have been narrowed down, then the fewer most probable alternatives are further evaluated so as to test their acceptability in that particular situation, the possibility of giving the desired results and also how feasible they are in the particular circumstance. In a nutshell this involves selecting the option that will help attain your objectives in the most efficiently. In our case, I shall have a closer look at the options of repackaging, re-branding, re-labeling, shifting the market focus, changing the product etc. And eliminate those that are not applicable to the counterfeit case. For instance changing the product will not be the best option bearing there are several other products the company deals in apart from the drugs that are a victim to the counterfeit scheme.
f). Selecting a preferred alternative
At this stage, evaluation of the alternatives should be made in a manner leading to picking of the two or three of the top ranking options that you had at the evaluation stage. While settling for the alternative to implement it is advisable to consider the future undesirable outcome or consequences. Explore the risks that may be experienced when implementing the alternative. This is the stage that requires most critical thinking and ample time since the decision reached at will be final....
Once one has considered all the risks involved in the three best alternatives, and then he can make a choice of the decision to implement as the course of action. In my case the option that is most feasible is re-packaging since it will be most effective with appropriate advertisement and awareness campaign.
g). Acting on the decision
Bearing that the decision had been made at the previous section, it is now crucial to chart out an implementation plan. Resources are then allocated for this stage and the commitment to make the selected alternative work is essential. In my re-branding campaign, investment into the advertisement sector through TV, print media, internet, radio etc. will be of paramount importance to make the alterative of re-branding work. This is the stage that will give the decision taken some value and a follow up plan is essential as a part of implementation. This ensures that the implemented alternative stays in course.
The rational decision making model has the advantage over other models in that it provides a structured way of decision making and hence encourages discipline in the same. It helps in ensuring that a full range of alternatives are critically looked into before a decision is made.
According to Paul C. Nutt, wrong decisions that costs organizations were usually wrong due to lack of two things missing; adequate participation of stakeholders in the decision making process and sufficient time spent generating a range of possible solutions. Further, use of the models in isolation can be of little effectiveness if any to a decision making process.
References
Business Analysis Made Easy. (2010). Decision making models. Retrieved May 14, 2010 from http://www.business-analysis-made-easy.com/Decision-Making-Models.html
Decision-making-confidence.com. (2010). Rational decision making models. Retrieved May 15,
2010 from http://www.decision-making-confidence.com/rational-decision-making-models.html
The Happy Manager. (2010). Rational Decision Making Model. Retrieved May 15, 2010 from www.the-happy-manager.com/rational-decision-making-model.html
