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Decision making skills can be very important in a careers context: Which career should I choose? Which university should I go to? Which course should I study? Of course they are also valuable in many other contexts in life.
The key steps in decision making are:
1. Clarify the nature of the problem before deciding action.
What is the purpose of the decision?
What is the expected outcome?
What are the key priorities: time, money, quality? Will a quick, cheap and cheerful solution do or do you need to invest time and cash to get things absolutely right?
2. Collect and summaries the data systematically.
Decisions can't be made in a vacuum! Gather, collate, classify and organize the information you need to make a decision. You need to analyses and evaluate all the important factors in making the decision. Analyze the various factors involved in the problem and identify the key ones.
Highlight any critical factors upon which the success on the decision will hinge.
Sound out the views and opinions of others: they may see something you have missed.
3. Use creativity/initiative in the generation of alternative solutions to the problem.
Produce a list of all the courses of action you can think of without trying to narrow these down. At this stage just produce a list of possible courses of action without trying to evaluate these. Brainstorming may help here (see below)
Think outside the box: don't just look at the obvious and tried and tested options. Don't be afraid to challenge the status quo.
4. Produce a SHORT list of the best options.
Remove any obviously poorer choices. Don't have too many options in your final list or it will be too confusing.
Differentiate between practical and impractical solutions.
5. Make your decision
For each of your shortlist of options consider its advantages and disadvantages. Try to recognize any inconsistencies in your reasoning and question any assumptions you have made.
Evaluate each option against the key factors to consider the combined effect of all the factors. Weight each factor in terms of importance paying particular attention to any critical factors. See the decision matrix below to help you do this.
Sometimes you may get so immersed that you may not be able to see the wood for the trees: if this happens sleep on it and postpone the decision until the next day. This may give you a fresh perspective.
6. Implement your decision
7. Evaluate how well things went
Learn from the experience especially if your solution does not prove successful!
SWOT Analysis
A SWOT analysis is a subjective method used to evaluate the STRENGTHS, WEAKNESSES, OPPORTUNITIES, and THREATS involved in trying to attain an objective. It involves specifying the objective and identifying the internal and external factors that are favorable and unfavorable to achieving the objective. It can be used as a business tool or on a personal level where it can help you take advantage of your talents, abilities and opportunities. It can help to clarify and summaries the key issues and opportunities facing you and thereby to set objectives and develop new strategies. It should help you to maximize strengths and minimize weaknesses in order to take advantage of opportunities and reduce threats.
Impact of my decisions on the profitability and success of the company
Man in life must make decisions and it works very often, once these decisions related to the ordinary things sometimes are very important. People have different goals and benchmarks in their lives so they are not the same things as essential (for some it is an ordinary thing and whatnot, but for others it is something big and important). One has to be happy with my decision (with life in general). Sometimes we all do something to happen and have a plan, but it does not (meaning that there are things that we could leverage). People used to think that something is good for them, but it's not that (after you pass a certain time that is good at being passed). There is a destiny (God's provision-Qadr).I wish we could have opinions and theories about some situations, but only if we find ourselves in this situation, then we could know and prove that we could have acted and what would we have done. So that it also teaches, and the best way to practice.
Relevancy of data available, how it can impact success or failure, facts available, decision leads to aim / goal which we would like to achieve.
In depth360 degree review, thorough analysis, prior taking tough decision.
Be responsible, don't regret and stand by what ever decision you have taken (whether right or wrong).
Factors to be considered for decision making, depend on the condition.
1- what's the goal i am seeking2- how will i be benieft from the decision i am about to take 3- what is the risk involved
Making difficult decisions in leadership roles can be easier if basic leadership concepts are followed.
After successful implementation of "Change the man, Change the Man policy"
Repititive chances to improve,
for Finding the best available resource
I will take tough decision
Most important
impact factor for the human stakeholders,
Long term implecations.... never win abattle by risking to loose a war.
How to best meet the approved organization's goals.
