Decision Making

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					Decision Making – the process
of choosing a particular action
that deals with a problem or an
opportunity.
• “In any moment of decision the best thing you
  can do is the right thing, the next best thing is
  the wrong thing, and the worst thing you can
  do is nothing”
Why we need to make Decisions ?


• “No one makes the right decision every time.
  But by developing your decision-making
  skills, you can increase your success rate!“
            Types of Decisions
• Programmed decisions
  – Specific procedures developed for repetitive and
    routine problems


• Non-programmed decisions
  – Decisions required for unique and complex
    problems ‘custom made’
  Rational Decision-Making Model
• A Decision making model that describes how
  individuals should behave in order to achieve
  a certain outcome
 A Systematic Approach to Rational Decision
                  Making
  Create a
                   Generate good   Explore these
constructive        alternatives    alternatives
environment




  Choose the        Check your     Communicate
best alternative     decision      your decision
    1.Create a constructive environment
•   Establish the objective
•   Involve the right people
•   Allow opinions to be heard
•   Make sure you're asking
    the right questions ( ?? )
5 why’s technique
   2.Generate Good Alternatives
• The more good options you consider, the more
  comprehensive your final decision will be.

• When you generate alternatives, you force
  yourself to dig deeper, and look at the problem
  from different angles
         3.Explore the Alternatives
• Risk
   – In decision making, there's usually some degree of
     uncertainty, which inevitably leads to risk.
   – By evaluating the risk involved with various options,
     you can determine whether the risk is manageable.
• Implications
   – Another way to look at your options is by
     considering the potential consequences of each.
• Validation
   – Determine if resources are adequate, if the solution
     matches your objectives, and if the decision is likely
     to work in the long term.
4.Choose the Best Alternative
         5.Check Your Decision
• To ensure that common errors haven't crept
  into the decision-making process :
    Escalation of commitment
       “Tendency to invest additional resources in an
       apparently losing proposition, influenced by effort,
       money, and time already invested”



                  Group thinking
6.Communicate Your Decision, and
       Move to Action
           Decision Making Do’s
•   Be honest.
•   Accept the responsibility.
•   Use time wisely.
•   Have confidence.
          Decision Making Don’ts
•   Have unrealistic expectations.
•   Make “snap” decisions.
•   Take unnecessary action.
•   Fool yourself.
Avoid Jumping to conclusions
 • We are always under pressure to act
   now, rather than spend time reasoning
   things through and thinking about the
   true facts, this lead us to:
   – wrong conclusion
   – cause conflict with other people, who may
     have drawn quite different conclusions on
     the same matter.
                 Your Turn
• Career Decisions
                Conclusion


“if you establish strong foundations for decision
 making, generate good alternatives, evaluate
  these alternatives rigorously, and then check
your decision-making process, you will improve
          the quality of your decisions”

				
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posted:1/22/2013
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