Reasoning in Decision Making

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Reasoning in Decision Making

In a business decision making process, an aspect of 'Reasoning' is involved. Reasoning is the process of using existing knowledge to draw conclusions, make predictions, or construct explanations. There are 3 main types:

1. Abductive ReasoningDeductive Reasoning: Conclusion guaranteed: This process starts with the assertion of a general rule and proceeds from there to a guaranteed specific conclusion.
2. Abductive ReasoningInductive Reasoning: This process begins with observations that are specific and limited in scope, and proceed to a generalized conclusion that is likely, but not certain, in the light of accumulated evidence.
3. Abductive Reasoning: Taking your best shot: It typically begins with an incomplete set of observations and proceeds to the likelihood possible explanation for the set. It can be creative, intuitive, and even revolutionary.

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		2 Jaap de Jonge Editor, Netherlands
	More Forms of Reasoning in Decision Making Thanks for contributing… There are some more ways of thinking or reasoning besides the 3 main ones you mentioned. See for example: IV. Analogical Reasoning V. Lateral Reasoning, and VI. Design Thinking.

		1 K.Narayana Moorthy HR Consultant, India
	Reasoning Processes in Decision Making Thank you very much for educating me on the topic. Analytical reasoning is a method of processing information that compares the similarities between new and understood concepts, then uses those similarities to gain understanding of the new concept. Lateral reasoning is an idea generation and problem solving technique. It uses indirect methods and creative approach. Design thinking is a method of solving complex problems. It defines opportunities; gathers data; reframes the assumptions; incubates; illuminates; evaluates; tests; assesses outcomes; implements and harvests for growth.