They may include borrowers, lenders, producers, buyers, scientists and other experts, environmentalists, and real estate developers and so on. Decision making skills is one of the most important aspects of management.
The ability to decide and choose wisely and rightly is often a matter of how the problem was posed. Though we try to be as logical as possible in taking a decision, sometimes we end up making illogical choices.
So, it is important to understand how people decide things to avoid bad judgments. The sad truth is that people, even at the highest level, simply do not like to make good choices as every decision involves a certain amount of risk. It would be pertinent to keep in mind that a decision-making process means repeatedly proving your ability.
So, have a clear understanding of your individual decision-making style. Keep in mind, when it comes to decisions, the best one can do is hope to make more good decisions than bad ones.
And it is equally true that nobody is very good in taking all types of decisions. The manner in which an individual takes or arrives at a decision depends to an extent on his or her inherent nature. The eagerness of a person with an impatient nature would often lead him to jump into quick decision.
Similarly, a person with high degree of emotions tends to decide quickly on whatever feels good. People who care for others and do not want to hurt or disturb them would take a long time to decide. Also, there are people who would like to have all kinds of information before they come to a conclusion.
After assessing your decision making style, find someone with an opposite style with whom you can establish a system of checks and balances. Also, do not forget to analyze the impact of your decision before hand, something which people fail to do. One needs to assess the impact not only on the basis of money and resources, but also what happens if that particular decision is not taken.
In doing so it would be important to maintain your objectivity.
While gathering and evaluating information people fail to realize how biased they are. To make better decisions, it needs to be understood fully how biases may be tampering with logic.
If you are under a high level of stress, it may cause you to search randomly, rather than systematically to support your choices. During stress, you are more likely to have a bias towards the first idea you hear about, without carefully exploring others. In the process you may overlook or minimize the possible problems and you may end up making a decision you will regret.
Similarly, a heavy emotional leaning, though not a sign of poor judgment, is a signal that you should at least be cautious. In your emotional excitement, you may be simply overlooking finer points of the other alternative available.
Of course, you must listen to your emotions.
Decision making in group process is a structured problem-solving or idea-generating strategy in which individual’s ideas are gathered and combined in a face-to-face, non-threatening group situation. Group decision-making (also known as collaborative decision-making) is a situation faced when individuals collectively make a choice from the alternatives before them. The decision is then no longer attributable to any single individual who is a member of the group. Essay on Communications Theory: Group Thinking - Groupthink is the communications theory that addresses, “ defective decision making on the part of a cohesive decision-making group in which loyalty to real or perceived group norms take precedence over .
But be aware as they may also lead you astray or away from a logical choice. Fear, anger, envy and elation are other aspects which can cause you to lose your better judgment and lead to counterproductive decisions.
The self-deception of wishful thinking can also cause erroneous judgments. It is because you want something to be true and hence you distort the evidence in its favour.
Also, decisions based on automatic assumptions tend to be poor ones. The reasoning behind your choices has to be checked carefully in such instances.
Another suggestion for decision-makers is do not opt for a decision that will solve am immediate problem at the expense of a bigger one.
While taking a decision, do not tend to think only of decisions that serve a single goal and in the process, forgetting about other goals and the fact that you may be subverting them. Try to analyze and frequently predict how long -will it take for a certain work to be completed.
It will enable you to factor more realistic time predictions into the decision-making process in the future.
In your enthusiasm of presenting yourself as swift person, never shave days, weeks, or months off an accurate prediction.
Some people rely heavily on intuition while taking a decision and even ignore the reasoned advice. Such intuitive judgments are often good source of decisions than is logical analysis, but can also be much less reliable.
It has to be kept in mind that your intuition would not always hit the nail on its head, but logical analysis can always do it. So, it would be best to combine the two.Group decision-making (also known as collaborative decision-making) is a situation faced when individuals collectively make a choice from the alternatives before them.
The decision is then no longer attributable to any single individual who is a member of the group. Goup Decision Making Essay - Group Decision Making Let?s define what is Group Decision Making, decisions made by committees, think tanks, teams and groups.
They may include borrowers, lenders, producers, buyers, scientists and other experts, environmentalists, and real estate developers and so on. Group Decision Making And Team Work Management Essay. Print Reference this. In the present essay the theory of creating groups and the problems that arise in groups are analyzed.
There is also a correlation of theory and the students’ group to which I was a member of. they are related to the operation of the group (decision-making. Essay on Communications Theory: Group Thinking - Groupthink is the communications theory that addresses, “ defective decision making on the part of a cohesive decision-making group in which loyalty to real or perceived group norms take precedence over .
Individual vs. Group Decision-Making Free Essay, Term Paper and Book Report Individual vs. Group Decision-Making POINT: The debate of whether individual decision making is more effective than group decision-making has been ongoing. Managers and leaders can take actions that support group decision making and lead to good decision outcomes.
Managers can help promote effective decision making by effectively choosing group members, framing the decision, and organizing the decision process.