Table of Contents
Methods used in the Research
This is a basis research method that aims to improve the available knowledge on advancing decision-making strategies. The research reviews the current methods of improving decision-making processes in order to advance the strategies from the comprehension of their background.
The research on the effective strategies to improve decision-making processes based its argument on literature researches. This was the primary method of obtaining data for analysis in the study to deduct inferences about decision-making improvement strategies. Among the literature sources that provided the researchers with relevant information was that by Fischhoff who developed a method of improving decision-making. Stanovich and West’s Sytem 1 and 2 also get reviewed in the research. This method of research is also known as bibliometrics.
A discourse analysis of the sources helps the researches to evaluate the quantitative and qualitative success of the strategies put forward by former scholars to improve decision-making. This is a method that involves critical analysis of data to determine the assumptions and deficits in a strategy.
Conclusions of the Article
The article concludes that some people base their decisions on their intuition. This happens because of their business as relying on the intuitive system of thinking is rather effortless. Most researchers on the topic tend to oppose the use of one’s intuition in decision-making as it significantly leads to failures of judgment due to bias. The article agrees with the move from the System 1 method of thinking that is based on intuition and move to the System 2 method of thinking. The System 2 method of thinking involves calculated decision-making based on patience, reason and exertion into the decision-making process. However, there are some trivial decisions that intuition is foolproof for thereby scraping the use of the System 2 method of thinking. Finally, the paper does not decisively affirm that it has found an efficient method to improve decision-making.
Strengths of the Study
The article has strengths in its relevance and in the way it stressed upon them. The high cost of the errors in decision-making and their increasing costs alarm people to address the issue of decision-making. The receptiveness of decision-makers also makes this study worthwhile as the results will be adopted by the relevant people.
The comparison of various methodologies to improve decision-making increases the credibility of the method it settles upon at the end of the analysis. The assumptions of each method get filled with the perks of the other method. This makes the study successful.
Weaknesses of the Study
The study does not come up with its own way of improving decision-making thus raising the question whether it has any authenticity. The strategies it settles upon are already in existence, therefore, turning the study into a review rather than a research.
Furthermore, the study is not definite on which method is more effective than the other thus leaving it ambiguous. The analysis in the article explains that the System 2 thinking type improves the decision-making process, but it suggests more research is necessary.
My Opinion of the Study
The study is an informative one that reviews the problem in question extensively before it attempts to review the methods of curbing it. The use of scholarly-approved sources as a template for the analysis increases the credibility of the research content. However, the study ends in a blur as the article affirms that the study did not come up with a definite conclusion. Therefore, the need to come with original concepts of improving decision-making is only emphasized, but not formulated. This makes the study rather a fact-finding mission than a problem-solving one.