!!! Dynamic of Decision Making !!!
In this era of working we have to continuously take many decision which may be simple or complex . This may involves HIGH INVESTMENTS and other RISKS . A logical and systematic decision-making process helps us to address the critical elements that result in a good decision. By taking an organized approach, we're less likely to miss important factors, and thus make our decisions better for the BENEFIT of the ORGANIZATION as well as people working.
As a valued team member in any organization, we probably make decisions every day. Some decisions are relatively straightforward and simple but others are quite complex..
A logical and systematic decision-making process helps us to address the critical elements that result in a good decision. By taking an organized approach, we're less likely to miss important factors, and thus make our decisions better and better. There are six steps to making an effective decision:
Create a constructive environment – First establish the objective & define what you want to achieve and then agree on the process .Always involve the right people while making any decision and allow opinions to be heard .Encourage the TEAM MEMBERS to contribute to the discussions, debates, and analysis without any fear of rejection from the group. Because our objective is to make the best decision under the circumstances: it's not a game in which people are competing to have their own preferred alternatives adopted. Think from a different perspective. Generate new Ideas so as to break old thought patterns .
Generate good alternatives - This step is very critical to making an effective decision. 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. Brainstorming is probably the most popular method of generating ideas. Use of Slip writing Technique to generate ideas from a large number of people is an extremely effective way to make sure that everyone's ideas are heard and given equal weight, irrespective of the person's position .
Explore the alternatives - When you're satisfied that you have a good selection of realistic alternatives, and then you'll need to evaluate the feasibility, risks, and implications of each choice. Risk analysis is structured approach for assessing threats, and for evaluating the probability of events occurring and what they might cost to manage. Also determine if resources are adequate and the solution matches your objectives. Cost-Benefit Analysis is very important to look at the financial feasibility of an alternative.
Choose the Best Alternatives - After you have evaluated the alternatives, the next step is to choose between them. The choice may be obvious. However, if it isn't, then use of Paired Comparision Analysis is beneficial. This helps you to compare unlike factors, and decide which ones should carry the most weight in your decision.
Check your decision - With all of the effort and hard work that goes into evaluating alternatives, and deciding the best way forward, it's easy to forget to ‘sense check' your decisions. So ensure that common errors haven't crept into the decision-making process. > Test the assumptions and the decisions you've made against your own experience, and thoroughly reviewing and exploring any doubts you might have. > Review whether common decision-making problems like over-confidence, escalating commitment, or Groupthink may have undermined the decision-making process.
Communicate your decision, and take action - Once you've made your decision, it's important to explain it to those affected by it, and involved in implementing it. Talk about why you chose the alternative you did. The more information you provide about risks and projected benefits, the more likely people are to support the decision.
An organized and systematic decision-making process usually leads to better decisions. Many variables affect the final impact of your decision. However, 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.
As a valued team member in any organization, we probably make decisions every day. Some decisions are relatively straightforward and simple but others are quite complex..
A logical and systematic decision-making process helps us to address the critical elements that result in a good decision. By taking an organized approach, we're less likely to miss important factors, and thus make our decisions better and better. There are six steps to making an effective decision:
Create a constructive environment – First establish the objective & define what you want to achieve and then agree on the process .Always involve the right people while making any decision and allow opinions to be heard .Encourage the TEAM MEMBERS to contribute to the discussions, debates, and analysis without any fear of rejection from the group. Because our objective is to make the best decision under the circumstances: it's not a game in which people are competing to have their own preferred alternatives adopted. Think from a different perspective. Generate new Ideas so as to break old thought patterns .
Generate good alternatives - This step is very critical to making an effective decision. 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. Brainstorming is probably the most popular method of generating ideas. Use of Slip writing Technique to generate ideas from a large number of people is an extremely effective way to make sure that everyone's ideas are heard and given equal weight, irrespective of the person's position .
Explore the alternatives - When you're satisfied that you have a good selection of realistic alternatives, and then you'll need to evaluate the feasibility, risks, and implications of each choice. Risk analysis is structured approach for assessing threats, and for evaluating the probability of events occurring and what they might cost to manage. Also determine if resources are adequate and the solution matches your objectives. Cost-Benefit Analysis is very important to look at the financial feasibility of an alternative.
Choose the Best Alternatives - After you have evaluated the alternatives, the next step is to choose between them. The choice may be obvious. However, if it isn't, then use of Paired Comparision Analysis is beneficial. This helps you to compare unlike factors, and decide which ones should carry the most weight in your decision.
Check your decision - With all of the effort and hard work that goes into evaluating alternatives, and deciding the best way forward, it's easy to forget to ‘sense check' your decisions. So ensure that common errors haven't crept into the decision-making process. > Test the assumptions and the decisions you've made against your own experience, and thoroughly reviewing and exploring any doubts you might have. > Review whether common decision-making problems like over-confidence, escalating commitment, or Groupthink may have undermined the decision-making process.
Communicate your decision, and take action - Once you've made your decision, it's important to explain it to those affected by it, and involved in implementing it. Talk about why you chose the alternative you did. The more information you provide about risks and projected benefits, the more likely people are to support the decision.
An organized and systematic decision-making process usually leads to better decisions. Many variables affect the final impact of your decision. However, 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.
................Hope this Article help you to take GOOD DECISION and the new process that you implement will be beneficial for the organization and also the peoples of Organization.
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