Decision-Making Process

Decision-Making Process
MGT/230
October 22, 2012
Dr. Claude Toland

Decision-Making Process
A time in my life in which I had to make a personal decision was when I purchased my first home. It was a hard decision to make because I was single with four children and only one income. I have worked at my job for a year and a half and have recently gotten a raise. I was getting tired of renting and wanted a place of my own for my children.
There were several steps that I knew I had to do in order to purchase my home. The first step was to identify the problem (Bateman & Snell, 2011). This was an important step that I had to make. I was renting my home when I could be buying one instead. I needed a bigger home for my children. I also had to estimate all my finances. The second and third steps of (Bateman & Snell, 2011) did not meet any of my needs for this decision. The fourth step was making the choice (Bateman & Snell, 2011). I decided to get a three bedroom double-wide with two bathrooms. This would give us enough room and it also was affordable for me to handle on my income. I found a lot to rent that had water included which worked out better for me. The fifth step I implemented the decision (Bateman & Snell, 2011) to purchase with a lender that I was able to afford on my income. I had also found home insurance that was reasonable. Finally, the sixth step was evaluating the decision (Bateman & Snell, 2011). After looking back, I saw that I had made a good decision.
I love my new home. It is bigger and there is more room for my children. I was unsure at first about buying a new home. I was worried about not being able to do it on one income. My plan was similar to the decision-making process that was described in our text (Bateman & Snell, 2011). I was able to go step by step in planning the purchase of my home. It let me look at all the options that I had available and helped me be able to decide carefully on my purchase.
If I had not used the step by step plan, I would not have looked at all my options that were available. That might have resulted on me purchasing a home that I could not afford on my income. Then I would not have been able to afford my payments which would have cost me to lose my new home.

Reference
Bateman, T. S., & Snell, S. A. (2011). Management: Leading & collaborating in a competitive world (9th ed.). New York, NY: McGraw-Hill Irwin.