Are there any risk-free decisions?
Unlike deterministic models (risk-free decisions), the outcome of some decisions depends on the second party, as is the case with any advertising campaign’s strategic decisions in a competitive market. Your consumers know intuitively that one of the characteristics of decision analysis problems is that "good" decision-making does not necessarily bring about good outcomes. "How could I have been so stupid?" asked former USA president, John F. Kennedy, after he approved the Bay of Pigs invasion.
A decision usually involves three steps:
1. A recognition of a need: A dissatisfaction within oneself--a void or need;
2. A decision to change--to fill the void or need;
3. A conscious dedication to implement the decision.
We see that making the correct decisions involves not only what we want to do, but includes what we have to do. The person who repeats again and again: "I am bound, I am bound," remains in bondage. The fear of making the wrong decision is both what pushes the consumer toward making a decision and keeps her from making one at all.
For more information on “Making Decisions” visit http://home.ubalt.edu/ntsbarsh/opre640/partXIII.htm#rdecido
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