Decision making skill for success in Life
As we promised in our earlier article, which can be found Here, that we were going to write on The Decision making skill for success in Life, Here it is. Decisions are based not on only one factor. We all know that what works for me might not necessarily work for someone else. I might have found a formula for doing some business in Zimbabwe, but that same formula might not work in the United Kingdom. The point being, some decisions are made according to what the environment dictates. It is of utmost importance to learn this Decision making skill for success in Life and know where to apply the knowledge.
Decision making is a process. Whether you are choosing a life partner, Choosing a business or choosing what to consider when starting a business. As we mentioned above, there is no one universal formula for this process. There are some things to look into though as you undertake this process. There are two types of decisions to be made. Logical and Emotional Decisions. Just remember we called it, Decision making skill for success in Life because every skill can be learned. This particular one can be learned by anyone.
Critical path analysis
Suppose you have a project you are working on, but you have tasks that can be undertaken simultaneously. How then do you decide which task to undertake first and which tasks can be delayed without compromising the overall project time? This process is no guesswork, and this is where you can use the critical path analysis. This is a tool that enables a project manager to decide which tasks must never be delayed. This tool makes use of the time to be taken for various tasks in the project. Decisions on allocation of resources can be made effectively using the data you get from the critical path. In one of our future articles, we will focus on how to make the calculations and how to use this tool.
Decisions can also be made based on statistical probability. Usually, when a decision is taken, it is important to look into the probability of success. Obviously, no one will do something with an intention to fail. The probability is usually based on past experiences. This is in the case of a reoccurrence, where an analysis of the ratio of success as compared to that of failure. Depending on your risk tolerance, a decision may be made to do something, or if it is worth the risk.
Upon evaluation of the different ideas that have been brought up the table, It is of utmost importance to do an analysis of possible consequences. This analysis can be done based on past experiences or based on calculations. More often than not, most decisions are done along these lines. This often requires the decision maker to think several steps ahead and see to it that their decision will not have undesirable consequences at the end. This requires a lot of practice, but once mastered, it helps in making quality decisions.
Most organizations have a set of guidelines on how to make decisions. Decisions in the organization that might have guidelines include; The need to fire an employee, the purchase of a new asset, building a new strategic business unit, choosing a supplier etc. Guidelines are very important because they can be seen as a template that can be used as a time-saving tool.
I decided to call these emotional decisions simply due to the fact that these decisions do not include and logical calculation at all. These decisions are based on what the decision maker feels about the topic. Sometimes decisions are made focusing on other people’s feelings. They may not have any reasoning behind them
For the benefit of the team
Every good leader knows that whatever decision they make will need to be for the good of the team. We mentioned this in our article on Secrets every leader needs to know about team success. Sometimes logical decisions may not be made just to keep the spirits of the team high. This could also be motivating and encouraging creativity and growth. Let take for example, in an organization that rewards creativity, and when you mess up they will correct you instead of fire you. Surely such an organization will have the best and highly productive employees. the employees will not be afraid to try new things, and who knows, they could come up with some clever methods of doing things.
This is usually seen as a destructive factor. Some leaders in some organizations make decisions based on what they have to benefit. This is not good for any organization because in most cases when this happens, those leader’s followers will have a tendency to resist. This actually is counterproductive. Therefore It is good practice to make a decision not based on what you have to benefit, if in an organization. As entrepreneurs, it is important though, to enter into deals that are beneficial. You could also choose to expand your knowledge, and this is to your own benefit, but worth doing.
As we mentioned in the special valuable skill of problem-solving, after we have identified the problem, and come up with ideas we need to decide on which idea to implement. That’s when we use some of these tools and techniques we mentioned in this article. The tools and techniques are not limited to the ones mentioned in this article. In as much as logical a decision is desirable in most cases, it is also important to consider how others feel about your decisions. Decision making skill for success in Life, because these skills can be learned by anyone. For comments and suggestions, don’t forget to drop your comment in the comment box. Also, you can connect with the author on Twitter or on Facebook. Your opinions are welcome. Help share this post. Thank you for your time.