“You have been offered a new job that will require you to relocate, do you accep

Question

“You have been offered a new job that will require you to relocate, do you accept the offer?”

Steps:

1. Establish a context for success a. Who is involved in the decision making process? b. What tools do you have to make your decision? c. What rules will you base your decision on?

2. Frame the problem a. What assumptions are you making? b. Do you have any biases? c. What alternative perspectives can you incorporate?

3. What are your alternatives?

4. How do your alternatives measure up against each other? a. What tools did you use? b. What variables did you consider?

Explanation / Answer

Q1) a. The stakeholders involved in the decision making process include family members, firm offering the new job, current firm.

b.The tools that are required to make decision includes -

1. Decision matrix

2. Decision tree

3. Cost-benefit analysis

c. The rules on which the decision would be based include-

1. Be clear about the purpose and the kind of outcome required

2. Be clear on the process used for decision making

3. Set the priorities if there are multiple outcomes

4. Identify and analyse all the tradeoffs involved in decision making

Q2) a) The assumptions include -

1. Information on the approximate salary, cost of living and expenses in the new location

2. All other family related and professional constraints are known.

b) Biases involved in the decision making include Information bias, Choice supportive bias.

c) The alternative perspectives that can be incorporated include -

1. Future possibility of relocating back to the current location

2. Safety and social security of the place to relocate

Q3) The alternatives include -

1. Continuing with the current job in the current location

2. Looking for other jobs in the same or different locations

Q4) Based on the information available and alternatives, the decision to relocate leads over others considering the financial benefits, quality of life in the new location, future employment opportunities etc.

a. The tools that are used include cost-benefit analysis, decision matrix.

b. The variables that are considered include -

1. Financial viz. Cost or living, income earned, savings etc.

2. Quality of life

3. Future employment opportunities

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