Fundamentals for effective Decision Making

It has been viewed in our surrounding that some people are week in decision making and some are quick. Here I am not going to say that who is right or who is wrong but I has been observed that once a person is delaying in decision making its not completely true, he/she is week in decision making vice versa the one who is quick in decision making doesn’t mean he/she has strong nerves.  

So, the actual story is entirely different, in order to take a right decision multiple factors needs to evaluate. Here, I am sharing few of the factors.    

 1. Goals and Objectives: The goals and objectives of the decision-making process can be a major factor in determining the course of action to be taken. These goals may be long-term or short-term, and they may be influenced by a variety of factors including financial considerations, social and environmental factors, and personal values.

 2. Information: The availability and accuracy of information can have a significant impact on decision-making. It is important to gather as much information as possible before making a decision, and to ensure that the information is reliable and relevant to the decision at hand.

 3. Alternatives: The number and quality of alternatives that are available can also influence decision-making. Having more alternatives to choose from can make it easier to find a solution that meets the goals and objectives of the decision-making process.

 4. Risk: The level of risk associated with each alternative can also be a factor in decision-making. Some alternatives may carry a higher level of risk than others, and it is important to consider the potential consequences of each alternative.

 5. Personal Values: Personal values and beliefs can also play a role in decision-making. People may be more likely to choose an alternative that aligns with their personal values, even if it is not the most practical or efficient option.

 6. Time Constraints: Time constraints can also be a factor in decision-making. When there is limited time available to make a decision, people may prioritize speed over thoroughness, or choose an option that requires less time and effort.

 7. Group Dynamics: In a group decision-making process, the dynamics of the group can also influence the outcome. Factors such as group cohesion, leadership style, and communication can all play a role in determining the final decision.

Dr. Naima Andleeb| ?Assistant Professor| HR Business Consultant| Academic and corporator Trainer|