Decision Making

Decision Making

1. Definition

According to James Stoner “Decision making is the process of identifying and selecting a course of action to solve a specific problem.

2. Decision Making Process

Making a good decision requires patience and careful thought. The following steps serve as important guidelines for taking good decisions

3. Factors affecting decision making

The following factors influence the decision making process.

·           Perception - people selectively interpret what they see on the basis of their interest, background, experience, and attitudes. Hence, people’s decision will be impaired by wrong perception.

·           Priority - Prioritizing the personal goals, the place of family, work, our career in our priority list is of most importance while making good decisions.

·           Acceptability - Those who implement the decision must accept it both intellectually and emotionally.

·           Resources - Available resources helps to make decisions fastly.

·           Judgment - Practical stratergies helps in improving decision making process

4. Qualities of Good decision makers

·           Evaluate circumstances, consider alternatives.

·           Use critical thinking skills.

·           Able to make decisions under pressure.

·           Problem solving attitude.

·           Opposed to a “that’s not my job” approach.

5. Practical tips to help in decision making

Stick to your mission

·           Set a time limit

·           Avoid decision fatigue

·           Control what you can control

·           Understand whether the decision can be reversed

·           Make a daily decision quota