Saturday, April 25, 2009

DYNAMIC OF DECISION MAKING-II

There are six steps to making an effective decision:

1. Create a constructive environment – First establish the objective & define what you want to achieve and then agree on the process .Always involve the right people while making any decision and allow opinions to be heard .Encourage the TEAM MEMBERS to contribute to the discussions, debates, and analysis without any fear of rejection from the group. Because our objective is to make the best decision under the circumstances: it's not a game in which people are competing to have their own preferred alternatives adopted. Think from a different perspective. Generate new Ideas so as to break old thought patterns

2. Generate good alternatives - This step is very critical to making an effective decision. The more good options you consider the more comprehensive your final decision will be. When you generate alternatives, you force yourself to dig deeper, and look at the problem from different angles. Brainstorming is probably the most popular method of generating ideas. Use of Slip Writing Technique to generate ideas from a large number of people is an extremely effective way to make sure that everyone's ideas are heard and given equal weight, irrespective of the person's position

3. Explore the alternatives - When you're satisfied that you have a good selection of realistic alternatives, and then you'll need to evaluate the feasibility, risks, and implications of each choice. Risk analysis is structured approach for assessing threats, and for evaluating the probability of events occurring and what they might cost to manage. Also determine if resources are adequate and the solution matches your objectives. Cost-Benefit Analysis is very important to look at the financial feasibility of an alternative.

4. Choose the Best Alternatives - After you have evaluated the alternatives, the next step is to choose between them. The choice may be obvious. However, if it isn't, then use of Paired Comparison Analysis is beneficial. This helps you to compare unlike factors, and decide which ones should carry the most weight in your decision.

5. Check your decision - With all of the effort and hard work that goes into evaluating alternatives, and deciding the best way forward, it's easy to forget to ‘sense check' your decisions. So ensure that common errors haven't crept into the decision-making process.
> Test the assumptions and the decisions you've made against your own experience, and thoroughly reviewing and exploring any doubts you might have.

> Review whether common decision-making problems like over-confidence, escalating commitment, or groupthink may have undermined the decision-making process.

6. Communicate your decision, and take action - Once you've made your decision, it's important to explain it to those affected by it, and involved in implementing it. Talk about why you chose the alternative you did. The more information you provide about risks and projected benefits, the more likely people are to support the decision.

An organized and systematic decision-making process usually leads to better decisions. Many variables affect the final impact of your decision. However, if you establish strong foundations for decision making, generate good alternatives, evaluate these alternatives rigorously, and then check your decision-making process, you will improve the quality of your decisions.


Useful Links to Read:
01. Parents - Like an Apple Tree
02. Good Thought
03. 21-happy-tips
04. way-of-thinking
05. cogitated.html
06. for-better-sleeping
07. thougth-of-day
08. positive-angle
09. smiling
10. swami-vivekananda
11. creative-thougth
12. greateful-thougth
13. effortive-thougth
14. great-improvement-thougth
15. big-thing-big-smart
16. employee-what-do-i-do-during-recession
17. swami-vivekananda-thougth-on-leadership
18. personality-devolepment-over-view
19. did-you-know
20. transport-travel-earth-efficient
21. save-water-life-of-earth
22. recycle-waste-save-earth
23. dear-guys-these-are-some-small-things
24. very-nice-wording
25. love-has-no-limit
26. lhealth-important-tips
27. small-truth-to-make-your-life-100-if-b
28. time-management-manage-yourself-not
29. how-to-work-smarter-not-just-faster
30. making-productive-use-ofhiddentime
31. 5-top-time-wasters
32. ways-to-improve-time-use
33. thirteen-timely-tips-for-more-effective
34. thought-of-day
35. bhagawatgeetha-essance
36. tension-free-life-through-meditation
37. positive-philosophy
38. friendship-is-treasured-gift
39. triumph
40. peaceful-thought
41. good-luck-tantra-totem
42. great-thinge-great-thought
43. what-is-teamwork
44. life-is-great-travel-trip
45. nice-management-proverb
46. beautiful-saying
47. chanakyas-quotes-worth-reading-million
48. it-is-difficult-but-challenging
49. heart-speaks-like-season
50. dear-son-dear-daughter
51. pillars-of-self-mastery
52. how-to-live-life.html
53. two-great-days.html
54. hard-reality-of-life.html
55. cute-thought.html
56. good-relationships-are-like-trees.html
57. do-or-die-is-old-saying.html
58. friend-is-reliable.html
59. brain-damaging-habits.html
60. buling-your-life.html
61. nail-in-fence.html
62. to-enhance-your-concentration.html
63. roap.html
64. do-you-know-about-your-kidney.html
65. bitter-truth-of-life.html
66. thats-life.html
67. dont-hurt-anyone.html
68. steps-to-happiness-success.html
69. to-z-action-plan-for-stress-management.html
70. nature-is-art-of-god.html
71. earnosethroatteethcare.html
72. what-nature-delivers-to-us.html
73. breathing-therapy.html
74. nature-gift-of-god.html
75. i-am-one-of-7.html
76. dont-expect-life-to-be-fair.html
77. exercise-and-fitness.html
78. spark-of-nature.html
79. important-tips.html
80. never-waste-apportunity.html
81. health-importantant-tips.html
82. personality-devolepment-thoughts_22.html
83. good-habit-life-of-way.html
84. habit-of-punctuality.html
85. yoga-important-for-health.html
86. yogasana-important-for-health-ii.html
87. strength-of-good-habits.html
88. relationship-improvement.html
89. science-of-yoga.html
90. ancient-vedic-hymns.html
91. number-of-magic.html
92. beautiful-quote.html
93. never-try-to-examine-relationship.html
94. history-of-zero.html
95. gym-exercises-weight-training.html
96. discovery-of-madhavacharya.html
97. bhaskaracharya-discovery.html
98. thought-of-fire.html
99. dynamic-of-decision-making-i.html

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