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Sample flowchart representing a decision process when confronted with a lamp that fails to light. In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief or a course of action among several possible alternative options.
Satisficing is a decision-making strategy or cognitive heuristic that entails searching through the available alternatives until an acceptability threshold is met, without necessarily maximizing any specific objective. [1]
Consensus decision-making is an alternative to commonly practiced group decision-making processes. [19] Robert's Rules of Order, for instance, is a guide book used by many organizations. This book on Parliamentary Procedure allows the structuring of debate and passage of proposals that can be approved through a form of majority vote. It does ...
If the seller does not want to drop the asking price to less than an alternative option, the buyer will walk away and buy the other alternative. Professional negotiators and researchers alike regard BATNA, or “walk away” outcome as the primary source of relative power for a negotiator. However, relying on alternatives can be risky.
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Group decision-making (also known as collaborative decision-making or collective decision-making) is a situation faced when individuals collectively make a choice from the alternatives before them. The decision is then no longer attributable to any single individual who is a member of the group.