Decision Making Tools & Techniques Brainstorming

695 words - 3 pages

Tools and Techniques PaperWhen faced with a difficult situation there are several decision-making tools or techniques that one can employ, brainstorming is one of them. Brainstorming is a powerful technique that breaks through narrow thinking by tapping into ones creativity, calling on every viable, however random, solution imaginable. This helps generate radical ideas and can lead to remarkable results. In order to find the best solution it is important to consider many possible solutions.Brainstorming involves quickly recording a broad list of ideas, which can then be expanded and evaluated. During a brainstorming session ideas should be generated as quickly as possible in order to develop the most creative and varied list of alternatives. As most problems are not easily solved by the first idea that comes to mind, brainstorming is an excellent way of developing many creative solutions to a single problem. Brainstorming works well individually or within a group but is increasingly more effective when a greater amount of people are involved. This line of reasoning follows the idea that two heads are better than one. A couple ground rules must be considered when brainstorming:· Define the problem or idea to be explored and make sure everyone is clear· Let the leader have control· Allow everyone to contribute and be heard· Ensure that no one will insult, demean, or evaluate another participant or his/her response· State that no answer is wrong· Record each answer unless it is a repeat· Set a time limit and stop when time is upBy following these guidelines, one can ensure a productive and efficient formal brainstorming session. However, brainstorming can also occur through casual conversation, and in less formal settings. For example, in my work place, several colleagues and I decided to plan a surprise birthday party for one of our coworkers. As...

Find Another Essay On Decision Making Tools & Techniques- Brainstorming

Decision Making Tools Essay

991 words - 4 pages The purpose of this paper is to define decision-making tools and techniques. This paper will define decision-making tools and brainstorming. The paper will also explain its application as well as when and when not to use this tool. When we make the choice that we need to make a decision, we should choose a tool or technique that can help us make the best possible selection.There are so many solutions to solve a problem. Brainstorming is one of

Decision-Making Tools for Mangers Essay

1281 words - 5 pages Decision Making PAGE \* MERGEFORMAT 1 Running Head: DECISION MAKING TOOLS Decision Making ToolsLearning Team AUniversity of PhoenixWhen comparing the decision making tools from all of our team member's organizations, we found that our organizations use many different techniques. Some of the techniques that we discussed are: cost-benefit analysis, PMI analysis, grid analysis, SWOT analysis, and force field analysis. These decision making tools

Capital Budgeting Decision-Making Tools.

2645 words - 11 pages gives the highest NPV.Capital Budgeting is an extremely important aspect of a firm's financial management. Although capital assets usually comprise a smaller percentage of a firm's total assets than do current assets, capital assets are long-term. Therefore, a firm that makes a mistake in its capital budgeting process has to live with that mistake for a long period of time. Decision making tools for capital budgeting are essential for any

Applying Decision Making Techniques to Identify Solutions

993 words - 4 pages several tools and techniques available to guide decision makers during the analysis and evaluation process in order to reach the best possible decisions. One of this tools or techniques available during the decision making process is brainstorming. This technique can be used to produce a list of possible solutions and alternatives to the problem. During brainstorming “it is useful to have experienced people to help with this part of the

Decision Making Techniques in Managerial Accounting

1099 words - 4 pages to follow the rational decision making process firmly, the act in itself fosters well thought-out planning and the help of additional techniques can assist in the final outcome. Better ways of handling the decision-making process is to incorporate others with the brainstorming and find different perspectives and research on all possibilities. Extra minds can bring together more ideas at a faster rate that is not comparable to an individual

Problem Analysis and Decision Making Techniques

3907 words - 16 pages conclusion based on the three alternatives that the team came up with in [spelling -- the preceding is one word] our brainstorming session, eliminating the awards program was the best choice. Before this decision was made, the working environment lacked communication and working relations with one another was no longer strong and productive. Communication is essential to a business. Without communication in the organization employees would not be able

Problem Analysis and Decision-Making Techniques Paper

2059 words - 8 pages today we celebrate the power of a promise and how a single person's vision can make a difference in the lives of millions."The team of Physical Graffiti has decided through our brainstorming exercise to choose the topic of education. We made the decision of education because there needs to be a baseline or start from the beginning attitude. Through brainstorming, we have made our decision to choose education. We could provide all the wellness

MGT 350: Tools and techniques for Decision Analysis

1109 words - 4 pages Making decisions is one of the most difficult and important tasks of a manager. Making valuable decisions not only impacts the success of the manager, but of the company as a whole. Several decision-making techniques have been developed to help individuals and organizations make the most efficient decisions possible. I have chosen to discuss Professor Hossein Arsham's (2006), Tools for decision analysis: analysis of risky decisions. He uses a

Critical Thinking: Decision Making Model and Techniques III

1191 words - 5 pages Critical Thinking: Decision Making Model and Techniques IIIHello, it's me Nik again and I'm going go over what I introduced before, I represent Plumbing and Rootering Inc. Recently I have been transferred to a new location in Kava. Kava is located in a significant island country in the South Pacific. My coworker Alex explained what our company situation is and the potential risk associated with our location. Alex also explained how both of us

FIN 325 - Financial Analysis for Managers II-Capital Budgeting Decision-Making Tools.

2638 words - 11 pages highest NPV.Capital Budgeting is an extremely important aspect of a firm's financial management. Although capital assets usually comprise a smaller percentage of a firm's total assets than do current assets, capital assets are long-term. Therefore, a firm that makes a mistake in its capital budgeting process has to live with that mistake for a long period of time. Decision making tools for capital budgeting are essential for any business.The Net

Financial Accounting: Tools for Business Decision Making Financial and Managerial Accounting: The Basis for Business Decisions

857 words - 3 pages Running head: TEXTBOOK ASSIGNMENT 1 TEXTBOOK ASSIGNMENT PAGE \* Arabic \* MERGEFORMAT 6 Textbook AssignmentnameACC/400: Accounting for Decision MakingMay 2010instructorTextbook AssignmentChapter 8 of Financial Accounting: Tools for Business Decision Making by Kimmel, Weygandt, and Kieso (2007) is Reporting and Analyzing Receivables. Receivables are "amounts due from individuals and companies that are expected to be collected in cash" (Kimmel

Similar Essays

Decision Making Tool: Brainstorming: Mgt 350 Tools And Techniques Paper

1236 words - 5 pages Decision-Making Tool: Brainstorming The purpose of this paper is to define decision-making tools and techniques. This paper will define a decision-making tool, brainstorming, and explain its application as well as when and when not to use this tool. Throughout the paper I will define, apply and explain when and when not to use brainstorming as your decision making tool. The first part is defining brainstorming. This is where a couple

Decision Making Techniques For Managers: Kaleidoscope Brainstorming

1089 words - 4 pages "Creativity is not something one learns as much as it is an attitude one maintains. Moreover, creativity is not something that happens on schedule."- Vinton Cerf, Senior Vice President, MCI.Brainstorming is defined as a method of shared problem solving in which all members of a group spontaneously contribute ideas (dictionary.com). The purpose of this paper is to analyze how Kaleidoscope Brainstorming can be used as a decision-making technique

Decision Making Tools And Techniques Essay

873 words - 3 pages your life, department or organization. The desired result is clarity about the decision that must be made. To achieve this result one must use available decision-making tools and techniques to help consider the relevant information and, if necessary, get the needed support of one's team or organization to make the decision work.References Baker, D., Bridges, D., Hunter, R., Johnson, G., Krupa, J., Murphy, J. and Sorenson, K.(2002). Guidebook to

Decision Making Technique: Brainstorming Essay

1667 words - 7 pages On any given day within any organization there are decisions to be made. These may be as mundane as where to go for lunch or what new product to put out on the market. There are several decision-making tools and techniques that a person or group can put to use with brainstorming being one of them.Brainstorming is "a tool for generating as many ideas or solutions as possible to a problem or an issue" (Simon para 1). Brainstorming does not