Unit Assessment 3 Managerial Decision Making

Managerial Decision Making Name Institution Managerial Decision Making Question 1Discuss your attitude about certainty, uncertainty, and risk when making decisions. How has your attitude helped or hindered your ability to make rational decisions In the process of decision making in an organization or a personal level individuals are face with different situation. In some instances, the situations are certain while in other they are uncertain and also risky. These three scenarios affect how a person makes his/her decision. In most cases, people rarely make well calculated decisions which consider all the options and risks that may be there (Bazerman and Moore, 2009). Like many individuals, I am susceptible to making decisions following known paths and procedures and very risk averse. In certainty, decisions are made leading to the most beneficial solution. This is because there are usually well known solutions for the problem on discussion. However, despite the fact that the outcomes of all options are well known, people still go for the options that have been used before rather than trying the best options. Such an attitude shows how risk averse people have become. In an organization, there are many issues that affect how a decision is made. The