MDQ STEP TWO: FRAMING THE DECISION

There are three components to a decision frame in the MDQ model:

• Purpose- What does Harry Hannah hope to accomplish by making the decision?
• Scope- What should Harry Hannah include and exclude in the decision?
• Perspective- What is Harry Hannah's point of view about the decision? What are the ways he wants to approach, or others may approach, making the decision?(Framing is like the zoom feature of the camera. What we include in the picture is the scope of the decision it, the angle for the best lighting and view is the perspective and what kind of picture we want, an action or landscape shot, is the purpose.)

THE DECISION STATEMENT: "What strategic approach should Hannah's Hats adopt to attain sustainable growth and enhance its market position?"

1.) Explain what "Framing the Decision" means in terms of the three components (Purpose, Scope, and Perspective).

2.) Discuss the biases and traps that must be avoided in Framing the Decision.

3. ) Explain the meaning and purpose in using objectives in the MDQ model. Discuss the specific biases and traps that must be avoided.

4.) Identify the Decision Statement again so it is clear what the Decision Statement you are using is. Then, identify the best four objectives for the Decision Statement that you selected. Explain why these objectives are the best for Hannah's Hats and Harry Hannah as the decision maker to help frame the decision.Be sure to explain specifically what constitutes a sound objective and why it is important to making the decision.

References:

Hammond, J. S., Keeney, R. L., & Raiffa, H. (2015). The hidden traps in decision making. Harvard Business Review Press.

Hannah's Hats case study. (2021).

Keeney, R. L. (2021). Value-focused thinking: A path to creative decisionmaking. Harvard University Press.

Mintzberg, H., Raisinghani, D., & Theoret, A. (2020). The nature of managerial work. Routledge.