| | NOVEMBER 2023MANAGEHRMAGAZINE.COM19A. Invest in a retirement fund B. Buy a luxury carLet us evaluate these options through 5 decision-making models such as ­ 1. Rating Model2. Impact on Stakeholders Model3. Ethics and Values Model4. Personal Vision Model5. Advisor ModelRating Model The rating model is rational and logical in nature. In the model, you must identify important parameters for evaluating the alternatives. Give a score on each parameter ranging from 1 to 5 where 5 is the highest score. Total up the score for both alternatives. The alternative with the maximum score stands out. Take a look at the table given below to understand this better. The decision-maker identified 5 parameters that will be impacted by the decision, lifestyle, security, happiness, peace, and finance. After the rating is given for each parameter, the total comes to 17 for option A and 13 for option B. In this model, Option A looks more promising than Option B. Impact on Stakeholders Model This model is intuitive in nature. It considers the impact of the decision on the stakeholders. It measures the feeling of stakeholders about the decision. Identify the stakeholders affected by the decision. The impact and feeling may be observed as positive, negative, or neutral. Give a score of (+1) if the impact is positive, (-1) for negative, and (0) for neutral. Check the given table below for understanding it well. As per this model, the sentiment score for option A is higher than option B. Taking Option-A will make the majority of the stakeholders happier. ParametersOption ARetirement FundRating (1 ­ 5)Option BLuxury CarRating (1 ­ 5)Lifestyle14Security41Happiness34Peace42Finance52Total1713StakeholderOption ARetirement FundRating (1 ­ 5)Option A - Retirement Fund(Sentiment)SelfPositive (+1)Negative (-1)WifePositive (+1)Positive (+1)KidNeutral (0)Positive (+1)Total21Gaurav Warman
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