The Role of Opinions in Decision-making

Decision-making and Valuation

Forum
M Y Zainudeen
Management Consultant, Sri Lanka

The Role of Opinions in Decision-making

Opinions play a major role in decision making in the absence of sufficient management information and lack of analytic skills.
Although modern management tools emphasize that management information is very important in rational decision making, such decision making is not always possible.
There are instances where decision making is purely based on opinions held by the decision maker. Because on one hand analyzing management information takes a long time, and on the other hand the situation demands a quick decision.
There are occasions in which a serious turn of opinion takes place with a sudden inflow of new information and knowledge. This is possible only for people who spend quite a lot of time in thinking about the subject matter involved, and are looking for new knowledge.

  Fr. Edgar Calunod, SVD
Student (University), Philippines
 

Decision-making When There is no Enough Time to Analyze Management Information

I do believe in "opinions", but I would like to emphasize "opinions of many heads". There is nobody who holds absolute...

  Kathi Deavers
United States
 

Opinions Play a Major Role in Decision Making

Opinions play a major role in all the choices we make in life, both personal and professional. Our opinions are a reflec...

  Bernd Born
Manager, Germany
 

The Plus, Minus, Interesting Tool by De Bono

First I think opinions are based on our experience. Second I made good progress with the Plus, Minus, Interesting tool ...

  M Y Zainudeen
Management Consultant, Sri Lanka
 

Opinions in Decision-making: The Opinion Ball

@Kathi Deavers : I agree that opinions are mostly based on our experience and our beliefs, religion, culture, politics a...

  rilwan, Nigeria
 

Questions When Using Other People's Opinions in Decision Making

The extent to which opinions by other people are allowed in decision making depends on the style of management. A consul...

  Mansur Ikhlas, United Arab Emirates
 

Using Opinions by Other People in Decision Making

Opinions are complicated element and influenced by many factors as mentioned in above messages. One of the main influenc...

  Jaap de Jonge
Editor, Netherlands
 

Problems with Decision Maker's Own Opinions

Even when there is plenty of superb management information available, and even if lots of excellent opinions have been s...

  M Y Zainudeen
Management Consultant, Sri Lanka
 

Personal Attributes in Decision Making

I fully agree with you comment Jaap. All what we discuss is about decision making under normal conditions of the brain f...

  Jaap de Jonge
Editor, Netherlands
 

We Decide not So Rational as we Think we Do

@M Y Zainudeen: OK, but be very careful to assume that under normal circumstances a normal decision maker thinks and dec...

 

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Decision-making and Valuation



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