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 5 Steps to Learn from your Mistakes
We all know that making mistakes is needed to learn from them, in order to do things better in the future. Indeed, people are often told to learn from mistakes, to maximize return on failure. But how exactly should we deal with moments of failure? Ro...
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Reasoning in Decision Making
In a business decision making process, an aspect of ’Reasoning’ is involved. Reasoning is the process of using existing knowledge to draw conclusions, make predictions, or construct explanations. There are 3 main types:
- D...
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How to Choose the Appropriate Decision-making Method
Most decision makers in organizations rely on conventional decision-making tools - even in situations of high complexity and uncertainty. However, these basic tools are based upon the assumption that decision makers have access to all information tha...
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The Role of Religion in Decision Making
Religion,Yoga, Meditation do these play any role in correct decision making?
Our religions preach many virtues which are age old and long lasting. They are playing a vital role in many people's lives.
- Do they also impact our decision maki...
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Being Afraid of Making Decisions
In my experience I have found that some people can take a negative approach to decision making and are guided by more by the fear of failure rather than the higher margin of success.
An outcome is almost ever measured against "doing nothing" and...
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Avoid 3 Common Decision-traps
Making decisions is your most critical job as a leader. The more high-stakes a decision is, the more likely you are to get stuck. Here's how to avoid three of the most common traps:
1. Anchoring B...
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Avoid Hasty Decision-making
Life itself is the ultimate school for making decisions. We make them constantly when faced with any situation.
However, we need not be hasty about making them (although some are required on the spot), we need to deliberate, gather suffic...
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Individual vs Organizational DM
You should distinguish between two basic levels (or types) of decision-making when studying the above decision-making method and theories:
1. Individual decision-making - Historically viewed as a relative simple, linear, somewhat rational...
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Decision-making Reviews?
Jerome Groopman says it's about time that managers make themselves more vulnerable by organizing formal decision-making reviews when a poor decision has been made, or when a particularly important decision will have to be made. There is no re...
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Decision-making and Valuation Community of Interest
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Decision-making and Valuation Education & Events
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 Improving the Decision-making by Managers: Choice Architecture
A different approach towards improving decision making is 'Choice Architecture'.
In every organization, employees tend to make decisions that will neither benefit their employer nor themselves. According to Beshears (2015), this happens not beca...
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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,...
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Conscious and Unconscious Decision-making
A decision is a neurological process taken individually or with cyberbrain that results in an action. The decision and hence actions can be taken consciously or unconsciously and the majority of a...
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Decision-making According to Peter Drucker
Definition of a Decision
A decision is a choice whereby a person performs a conclusion about a situation. This represents a course of behavior about what must or what must not be done. It is the p...
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Gut Feeling / Intuition in Decision-making
I don't believe in any rational decision-making methods for managers. The complexity of most management decisions is big, and the circumstances change quickly. So many executives prefer the 'Gut Feeling approach'. Even if we want to be rational, our...
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