MSG Team's other articles

10027 Accelerating out of the Slow Growth Economy: Invest in oneself

Why One Should Invest in Oneself A recurrent theme among the leaders and the potential leaders is about how to succeed in a low and slow growth economy. With job opportunities diminishing and pay hikes being lesser, there is a need for leaders and aspiring leaders to upgrade their skills and be valuable to their […]

10798 The Mystery of Capital: Property Rights and Records of Ownership

The Mystery of Capital In previous articles, we discussed the concept of property and how the measure and nature of property rights have been developed over the last two centuries. This article examines a key aspect of the mystery of capital and how it is generated i.e. the concept of clearly defined property rights and […]

11093 Role of Employees in Crisis Management

The art of managing an emergency situation at the workplace through effective planning and quick action refers to crisis management. An unstable condition which leads to major disturbances at the workplace must be controlled immediately for effective functioning of the organization. Crisis Management helps the employees as well as organization to cope with difficult times […]

8907 Designing Failsafe Systems

Business Decision Making in the 21st Century We live in a world of increasing complexity and compression of time which means that the systems whether they are business structures, economic and political institutions, or even societal systems need to take into account complexity and increased interconnection along with reduced time to react and acceleration of […]

12168 The Promise and Perils of Technology Driven Decision Making for Business Leaders

The Advantages and Disadvantages of Decision Making in the Digital Age The Digital Age is well and truly upon us. With it, many changes are happening both in the external landscape in which businesses operate as well as the internal dynamics of decision making. Indeed, it would be an understatement to say that Decision Making […]

Search with tags

  • No tags available.

Decision making process is like a school exam. Those who take good decisions will pass the exam and the rest who does not take right decisions will have to bear the consequences. Being able to take good decision is important for everyone, whether he/she is a student, teacher, manager, principal, president, leader of any institution etc. A student has to take decisions about his career, a president has to take decisions regarding his country’s benefit, and a manager has to take decisions regarding his company and likewise the leader of any institution. So every single person has to pass this step in order to progress in their field.

The meaning of decision in Latin is to ‘cut off’. This means that from all the available alternatives you choose one thing and then cut off from all the other alternatives. Due to this, the decision making process sometimes becomes very difficult. Choosing the right option from all the available alternatives is very hard to do.

Decision making process requires thinking process, time, efforts, resources and also a little bit of knowledge and past experiences. Thinking process plays an important role in decision making process because it allows you to judge each and every thing. Timing is also important.

Taking right decisions on right time can save you from any trouble. Taking too little time to take decisions or taking too much time to execute your decision can cause many problems for you. Decision making processes also requires knowledge, experience and research. If you have knowledge, you can find out different alternatives for the problem faced. Making decisions without having proper knowledge about the problem can cause difficulties.

In our view decision making power is the key to progress in life. You might have seen many people who do not take proper decisions and then they have to suffer. On the other hand people who have this decision making power, continues to progress in their life. Not all of us have this decision making power. We try to make right decisions but sometimes we make mistakes because we don’t know the steps that we should follow during the decision making process. So in order to take right decisions, it is important that we should know all the steps of decision making process and follow them.

The decision making process involves the following steps:

  1. Curious Observation
  2. Existence of Problem
  3. Goals & Planning
  4. Search, Explore & Gather the Evidence
  5. Generate Creative & Logical Alternative Solutions
  6. Evaluate the Evidence
  7. Make the Educated Guess (Hypothesis)
  8. Challenge the Hypothesis
  9. Reach a Conclusion
  10. Suspend Judgment
  11. Take Action

These steps will help you to take proper decisions

Each of these steps will be explained one by one in further articles. Anyone who wants to be a good decision maker should follow these steps. Whether your problem is big or small these steps will show you the right path to solve your problem and will lead you towards progression.

Article Written by

MSG Team

An insightful writer passionate about sharing expertise, trends, and tips, dedicated to inspiring and informing readers through engaging and thoughtful content.

Leave a reply

Your email address will not be published. Required fields are marked *

Related Articles

Curious Observation – First Step in Decision Making Process

MSG Team

The Process of Corporate Decision Making

MSG Team

Conflict Resolution and Decision Making

MSG Team