ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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First use reasoning and then intuition.
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First use intuition and then reasoning.
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Either A or B
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None of the above
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Detailed explanation-1: -Intuitive decision-making can be described as the process by which information acquired through associated learning and stored in long-term memory is accessed unconsciously to form the basis of a judgment or decision.
Detailed explanation-2: -Intuitive model The intuitive model involves making a decision based on your instincts. This model is appropriate when the team is familiar with the subject matter. It’s usually less-structured than other models and relies on team members to leverage previous knowledge to identify patterns and apply similar solutions.
Detailed explanation-3: -These considerations lead us to propose that there are two distinct kinds of intuition – intuitive judgement and intuitive insight.
Detailed explanation-4: -Pay attention to physical cues. We often have a physical reaction to decision-making, so when considering your options, pay attention to those responses. Document your flashes. Intuition may come to us in small “aha” moments as we’re weighing alternatives. Take the time to listen. 31-Aug-2020