(i) All the techniques are firmly based on empirical observations and are readily verifiable. (ii) They help in reducing a multitude of observations to a manageable number of factors. (iii) They allow the formulation of structured ideas and theories which can be tested under the assumed conditions.

List of the Advantages of Quantitative Research

• The quantitative approach allows you to reach a higher sample size.
• You can collect information quickly when using quantitative research.
• Quantitative research uses randomized samples.
• Results duplication is possible when using quantitative research.

Quantitative techniques help a manager improve the overall quality of decision making. These techniques are most commonly used in the rational/logical decision model, but they can apply in any of the other models as well. Among the most common techniques are decision trees, payback analysis, and simulations.

The following are six such important quantitative techniques of decision making:

• Linear programming. This technique basically helps in maximizing an objective under limited resources.
• Probability decision theory.
• Game theory.
• Queuing theory.
• Simulation.
• Network techniques.

Overview of the 6-Step Process

• Step 1: Define Desired Outcomes and Actions.
• Step 2: Endorse the Process.
• Step 3: Establish Criteria.
• Step 4: Develop Alternatives or Options.
• Step 5: Evaluate, Select, and Refine Alternative or Option.
• Step 6: Finalize Documentation and Evaluate the Process.

At the highest level we have chosen to categorize decisions into three major types: consumer decision making, business decision making, and personal decision making.

• Step 1: Identify Your Goal. One of the most effective decision making strategies is to keep an eye on your goal.
• Step 2: Gather Information for Weighing Your Options.
• Step 3: Consider the Consequences.
• Step 4: Make Your Decision.
• Step 5: Evaluate Your Decision.

four phases

1. Step 1: Identify the decision. You realize that you need to make a decision.
2. Step 2: Gather relevant information.
3. Step 3: Identify the alternatives.
4. Step 4: Weigh the evidence.
5. Step 5: Choose among alternatives.
6. Step 6: Take action.
7. Step 7: Review your decision & its consequences.

1. 1 – GATHER THE FACTS. □ Don’t jump to conclusions without the facts.
2. 2 – DEFINE THE ETHICAL ISSUE(S)
3. 3 – IDENTIFY THE AFFECTED PARTIES.
4. 4 – IDENTIFY THE CONSEQUENCES.
5. 5 – IDENTIFY THE RELEVANT PRINCIPLES,
6. 6 – CONSIDER YOUR CHARACTER &
7. 7 – THINK CREATIVELY ABOUT POTENTIAL.
8. 8 – CHECK YOUR GUT.

Four examples of routine decisions would be: what time to go to bed at night, what to have for dinner, what to wear to school, and what temperature to set the a/c to.

Combination Style

Routine decision-making involves purchases that require very little thought after the original decision has been made. Each time, with little thought, you will purchase the same product. Marketers strive to become routine purchase decisions for consumers.

Getting married and having a child stand out clearly here. Other fairly common big life decisions include starting a new job and pursuing a degree. Less common, but among the highest ranked life decisions, include ending a life – such as that of an unborn child or a dying parent – and engaging in self-harm.

There are 2 toughest decisions that I ever made in my life. The first one is about to choose my career. I want to be an engineer but my parents planned for me something else because of financial problems. At that time this decision was toughest for me to choose parents planned career path or my own.

13 Hardest Decisions We All Have To Take In Life

1. Which bridge to cross and which bridge to burn.
2. To hide not the ugliness, but the emptiness of life.
3. Letting go, not because you want to, but because you have to.
4. Going against your family, to prove your worth.
5. Going against the obvious truths of life.

How to Make Difficult Decisions

1. 5 Pieces of Timeless Advice for Making Tough Choices.
2. Think in Years, Not Days.
3. Understand the Effects of Decision Fatigue.
4. Cut down on the number of decisions you have to make each day (e.g., wear the same clothes every day)
5. Consider the Opposite.
6. Stay away from the ‘What if’ game.

Your values will determine every other decision you make. The decisions we regret are usually the ones out of alignment with our values. That’s why choosing your values is one of the most important decisions of your life.

Making decisions will always be difficult because it takes time and energy to weigh your options. Things like second-guessing yourself and feeling indecisive are just a part of the process. In many ways, they’re a good thing—a sign that you’re thinking about your choices instead of just going with the flow.