I somewhat agree with the dynamic
programming method explained in the book. There are some industries and fields
where this type of decision making is commonplace, and there are some that feel
lost just looking at the equations involved with it. My decision making style
is different, and even though I enjoy using data and calculating risk, I like
to have some variability and flexibility in my decisions when dealing with
multistage decision-making. I feel that too many variables play a part in decisions
and very few things stay constant. It appears that dynamic programming counts
on the future to be constant predictable, when in my industry and workplace it’s
ever-changing.
I think that this method forces
people to look at the decision-making process differently and tap into other
areas that may not get as much consideration when planning. I think there are a
lot of managers out there that use a form of this equation, they may just call
it something different or use it in another manner or application. I feel that
it wouldn't quite help me in my decision-making process because of the emphasis
that I place on flexibility and using experience and intuition as drivers.
Dynamic programming would have
more of an impact on business decisions than personal decisions. The values we
place on certain things and events cannot be taken into consideration when
using this tool. I feel like the long-term effects on planning are good in a business
sense, as they take probability and risk into account, and the answers to
questions could be simplified as long as these numbers are accurate. Again,
this process looks interesting but does not suit my personal style. I take decisions
one step at a time in my personal life, and use other calculations and
considerations when planning at work.
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