|Type of paper:||Essay|
|Categories:||Leadership analysis Business Organizational culture|
Debate whether the application of the tools of rational economics leads to “better decisions” across all contextual frameworks.
Decision-making calls for a critical assessment of the situation and possible outcomes that may be associated with the final decision (De Brouwer, 2018). Therefore, the application of analytical economics tools provides a suitable way of decision-making across all different approaches in the contextual frameworks. One of the collective nature of using the contextual framework in decision making is the degree of complexity that is associated with it. Therefore, it is essential to understand the ways through which rational economic tools can be used to mitigate the increasing possibilities of complexity in decision making, as well as adopting tools of rational economics to mitigate the complexity.
What about human behavioral responses and organizational discipline in each of these frameworks?
Decision-making based on human behavior may vary, especially considering the effectiveness of different frameworks used in decision-making models. For instance, the Cynefin framework provides leaders with an opportunity to understand the current operative context so that they can make the appropriate choice (Knopman, & Lempert, 2016). Human behavior responses play a vital role since each domain requires a different action, which may be complicated or straightforward.
The complex context is deemed as the domain of emergence, as leadership behaviors and their decision-making habits influence the performance of the organization. Some of the situations in an organizational context are complex because of the adopted changes. In this domain, things tend to happen in retrospect. Constructive ideas and decisions can happen if the leaders conduct a meaningful survey before making their decisions based on human or personal behaviors, which later may affect the entire organization.
How Big Data analytics can Be Used to Bring Clarity to Decision making
Big data has become of an essential tools and a nerve center of many businesses across the globe, as they are slowly adopting this concept to predict and make effective decisions regarding the business and its growth (Bleicher & Stanley 2016). Big data analysis has been depicted as a concept used to analyze the growth of the business, and decisions made by the consumers. Therefore, big data remains an essential tool for consultation when making valuable decisions that can change the course of the business.
Bleicher, J., & Stanley, H. (2016). Digitization as a catalyst for business model innovation, a three-step approach to facilitating economic success. Journal of Business Management, (12). http://www.theaspd.com/resources/jbm%20vol.%204-2-1.pdf
De Brouwer, P. J. (2018). Decision Making in Uncertainty. http://www.de-brouwer.com/assets/papers/180420_agh_beh-fin.pdfKnopman, D., & Lempert, R. J. (2016). Urban responses to climate change: a framework for decision-making and supporting indicators. RAND Corporation.
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