Running head: PERSONAL PERSPECTIVE PAPER
Personal Perspective Paper
William Hildreth
University of Phoenix
Personal Perspective Paper
Should I stay or should I go(The Clash,2003), to be or not to be(Shakespeare,1600), paper or plastic, Coke® or Pepsi®, public school or private school, green beans or potatoes, it goes on and on almost forever. Even to the point of making another decision to make a decision. My experience with decision making models is apparently vast based on my reading of the reading material. The processes of normative, descriptive and prescriptive offer insight into the ability of make an effective decision.
Experience With Decision Making Models
Apparently as a human race we are duty bound to make decisions in our lives regardless of desire or functional ability to do so or not. Of course some decisions like what to have for dinner do not have the same reproach as critical business decisions such as production processes, or financial strategies, but none the less may require the same background to be able to make good or effective decisions.
Wharton describes three approaches to the decision making process. Normative, Descriptive and Prescriptive (Hoch, Kunreuther, Gunther 2001). Normative is the approach such a purchasing a home and obtaining a mortgage loan. This model assumes that the buyer has been presented a detailed set of plans that will lead them in the ability to make the "best" decision. When the problem presents an unclear choice the analytical material will guide the decision maker accordingly. I can best describe my dealings with this method as stated above. I was in a position to re-finance my house three years ago and was ...