Fallacy

Fallacy

Abstract

For some, decision making can be one of life’s biggest challenges. Why do you suppose that is? After all, the fact that we are often faced with decisions means that we have choices and free will. We have the ability to make a difference. On the contrary, with decision-making comes consequences which can be range from simple to life changing. Regardless of the decision or nature of the decision, someone or something is likely to be rejected in some fashion and doors will close. In an effort to make better sound decision, it is important to understand the methodology behind making such decisions.

This paper will describe the Cost Benefit Model for decision-making. The first section of this paper will identify the concept and/or steps of the Cost Benefit Model while the second section will apply this method to a recent job-related decision.

The Cost Benefit Model for decision making is commonly referred to as the cost benefit analysis or cba. The basic concept of cba is to “find, quantify and add all positive factors. These are benefits. Then it identifies, quantifies, and subtracts all the negatives, the costs. The difference of the two indicates whether the planned action is advisable.” (Reh, J. 2006). Sounds easy, right? The challenge is not the ability to add and subtract but ones ability to properly quantify each.

At ABC Co., I was faced