Individual Decision Making Literature Review

Introduction
Decision making is the process of identifying problems and opportunities hence will lead to a corresponding reaction. Many decisions that are made today operate in a world filled with risk, uncertainty and profit (Frank Knight, 1921). Decision makers contribute help, achievement or disappointment to the business association and furthermore rationality is bounded. This literature will be reviewing on Kmart and Wal-Mart decision making.
Individual Decision Making
In the approach of individual decision, managers or employer use different model process and result in different conclusions, not based on a rational choice but of their personality, management style and experience. (Keen and Morton, 1978). Bureaucratic model is a model

He pushed the decision down to all his employees, from that aspect, they could act and think like a business owners. Wal-Mart’s managers imposed strategic leadership to select and implement a set of strategic that aim to achieve competitive advantage over its rivals.

Stepladder technique: every member is encouraged to contribute opinions before being influenced by anyone as it will contribute to a wider variety of ideas. (Steven Rogelberd, Janet Barnes-Farrell and Charles Lowe, 1992)
There is also a debate on the negative side of group decision making, it can lead to group think. Individual inside group decision can be dominated by a dominant group trying to persuade, moral judgment been tested and time period to reach a decision can be long.
Programmed and Non-Programmed
Moreover, another decision type is used by Kmart CEO, Mr. Conaway, when advertising circulars is demolished in Kmart’s culture plus furious compete with Wal-Mart have illustrated non-programmed decisions which means situation tend to be unexpected and

Even Wal-Mart is so successful; Wal-Mart faced a law suit by abusing and improperly disposes hazardous material in California. This is an unethical action. In order to resolve this news, Wal-Mart pays $27 million to settle law charges (Environmental Leader, 2010). This has caused a bad reputation for its organisation.
Conclusion
Looking at the different decision type and model Kmart and Wal-Mart had used; the results of both are different. Kmart failed to be successful and still trying to build up its store in US. Looking at the strong competitor, Wal-Mart till now is still the top USA cheap superstore. The decision made for an organisation will impact in the short or long run.
All decision making involves elements of risk and reward. Every decision there will be risk; it depends on how an individual, group or organisation sees it. Though bureaucracy and rational decision making model is found in Kmart and Wal-Mart, there are still other decision making model been used.
Kmart focus on profit and trying to be the best while Wal-Mart focuses on increasing profits by believing its employees and