Make Decisions Better

Deep Note
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The Importance of Good Decisions

There is a tremendous need for good decision makers in today’s world. People are needed who have the ability to make decisions quickly and responsibly. While everyone has to make decisions, it is amazing how little is known about how to make a good decision. Most decisions are made without any idea of the decision-making principles.

It is estimated that about one-half of the decisions made in business are incorrect. With better decision-making skills, the percentage of correct decisions would undoubtedly rise.

Do We Decide To Be Decisive?

It is not necessarily the act of making decisions that is so frightening, it is uncertainty of the results and repercussions of those decisions that we tend to fear the most. Just as no one is truly afraid of heights, they are simply afraid of falling.

Making effective and sound decisions is an art that is learned through life experience. We learn how to make decisions during childhood, although we do not always realize that we are being taught to make decisions. Children almost instinctively choose to play with a particular toy based on the pleasure derived from that toy. Although this is an innate and simplistic decision, a decision making process is evident, nonetheless.

Children do not have the contemplative or reasoning skills to recognize that they have made a decision based on which toy he or she prefers. By choosing a specific toy, the child has experienced the decision-making process based on the result he or she experienced last time. The child will most likely choose that same toy again when faced with similar circumstances. As we grow older, the decisions become more complex and the ramifications of our decisions are more significant.

Making Better Decisions

Having had the experience of making poor decisions and having to deal with the outcome of those decisions will serve as a tool to help you make better decisions in the future. The key to making better decisions is to educate yourself and make certain that you are fully informed about the contributing factors. Undoubtedly, most of us have heard the phrase “knowledge is power”. If you educate yourself and make an effort to learn as much as you can about the issue, you will find the power within yourself to be decisive.

The worst thing you can do when faced with a decision is to overanalyze the issue. Overanalyzing the situation will only make the decision seem more overwhelming. When faced with indecision, keep in mind that most bad decisions can be remedied and nothing is permanent.

Characteristics of good decision makers

The best decision makers are people who can combine logic, problem analysis, and intuition to come up with the correct decision.

  • Being a good listenerGood decision makers must be able to hear and take into account other people’s opinions when making decisions.

  • Having a clear set of priorities. Decision makers must know their priorities or values in order to choose a good or “correct” path.

  • Having an open mind. Good decision makers are open to other people’s views and ways of thinking rather than being stuck in one way of doing things.

  • Being flexible and willing to change.  A good decision maker is open to new or alternative ways of doing things that may work out better in the end.

  • Being realistic. Good decision makers understand the realistic outcomes to which different paths will lead.

The three most important criteria for good decision making

The three most important criteria for good decision making are values, experience and common sense:

  1. Values - What you value determines your behaviour. Your beliefs produce attitudes, attitudes produce feelings and feelings lead to behavior. 

  2. Experience – We all learn to make decisions through experience. Time will tell if a decision is good or bad.

  3. Common sense - Common sense, or what you know, is a key component in choosing one path versus another. Use what you know to help you make the best decision.

Brings value

Good decision making is an essential skill. There is a tremendous need for good decision makers in today’s world. When you improve your decision-making skills, you will increase your value in their future job, family and communities.

Here is what the greatest in the history think about “Decision Making”:

“You can’t make decisions based on fear and the possibility of what might happen.”

  • Michelle Obama

“Whenever you see a successful business, someone once made a courageous decision.”

  • Peter F. Drucker

“A good decision is based on knowledge and not on numbers.”

  • Plato

”In any moment of decision, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing.”

  • Theodore Roosevelt

“We think, each of us, that we’re much more rational than we are. And we think that we make our decisions because we have good reasons to make them. Even when it’s the other way around. We believe in the reasons, because we’ve already made the decision.”

  • Daniel Kahneman

“There is no decision that we can make that doesn’t come with sort of balance or sacrifice.”

  • Simon Sinek

“To change a habit, make a conscious decision, then act out the new behaviour.”

  • Maxwell Maltz

The book, first, helps you to understand your own approach. To make it easier, there is a simple exercise which really helps you be aware of it more conveniently.

After realising your own approach to decision making, the book helps you to broaden your knowledge concerning to different aspects of Decision Making. There are several points of view which lead you to a better decision making:

  • First aspect is regarding to rationality, utility theory, maximising your own utility, and limitation of rationality approach.

  • Secondly, it covers the psychological perspective. In this section, you will deepen your knowledge about bounded rationality and heuristics, how framings the problems will affect our view to the problems and some more crucial topics.

  • Thirdly, the book helps you to know more about the sociological perspective about the decisions and how your decisions will affect the people you are in contact to. As well, it goes through the social pressures which affect your decision making and helps you to deal with the social pressure.

Finally, in the last two chapters, it will be discussed about the risks, the inevitable part of making any single decision, prospect theory and its implications, what is an effective decision, and how to avoid the traps of decisions.


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10 ratings
  • Size
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    74 pages
  • Size1.19 MB
  • Length74 pages


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