Decision Making

Decision-making is usually done under uncertain conditions. It rarely happens that the decision maker is fully aware and is entirely sure of the eventualities of each alternative. In such a scenario, one must fall back on experience and intuition to make the judgement call. The option which is most likely to have favourable consequences emerges the winner.

The decision maker in a company must make logical and rational choices for the sake of the organisation. As it brings in higher revenues, more people are likely to get motivated by the higher profits. By embracing the new ideas and methods, the decision maker can help prosper innovation in the company environment after he/she shows the way out for the old, redundant ideas.

Be it a company or an individual; success reflects the decisions they make. The more prudent and rational the choice, higher is its possibility to succeed. It also pays off to take a risk at times. Besides, all the decisions made under uncertainty carry some amount of chances. The risks associated with an option can be big or small but is one factor that cannot be evaded entirely as far as decision making is concerned. These are the areas where decision-making skills rise in prominence.