effective decision making
effective decision making

We make decisions all the time, no matter whether we are working as a professional in a business or in personal or private life. Moreover, at first place these choices might seem worlds apart, they do have some similarities in the way we decide how to approach them. Here’s how we can implement effective decision making.

Business decision making

Right from the conception of a business, decisions have to be made, what is the nature of the business, who is the target customer, where should the business be located? These are just some of the examples that show that making a decision can have lasting effects and thus need to be thoroughly thought out. This mirrors essential personal decisions such as where to live and which job or career path to take.

The way we take and approach these decisions can be equally involved and complex. As you progress through your career, the types of decisions you make will have higher stakes and a bigger impact on more people, which is why it is so essential to make the right decisions and make sure that you have the right kind of information to do so.

Personal decision making

Personal decisions are just as essential as business decisions, but typically involve a much smaller number of people. Moreover, because they also involve the people closest to us and our private lives, they are often more impactful than some of the business decisions that we make. They ultimately determine who we are, who we have close to us, and our priorities in life. Your personal decisions include everything from what to have for lunch to who to marry and where to live.

Related : 6 Tips to Overcome your Fear of Decision Making

Consumer decision making

Consumer decision-making can be in a business or personal context – it covers everything from what type of milk you go through to deciding which supplier to partner with for a project. Like both the personal and business decision making, it has its own set of factors and considerations that need to be balanced, such as budget vs. quality, and various unknowns when it comes to buying from somebody new.

How to demonstrate effective decision-making

It is one of the best things that learning about how to make effective decisions, but how do you demonstrates effective decision making? You will have to do this at various stages of your career, in everything from your interviews to reviews. Here are some of the few tips to show cast for showing off your decisions making skills:

  • Be transparent:

If you are evaluating a series of options, make sure other people know what the criteria are and how you are evaluating them so that other people can understand that your decision making was a process and how just a quick guess.

  • Be data-driven:

In most situations, data-driven decision making is synonymous with logical or rational decision making.

Related : 5 Ways to Use Data Driven Decision Making to Fuel Growth

  • Be communicative:

Moreover, the best way to demonstrate a skill is to communicate well throughout the process of using it. Make sure that other people understand the decision and the factors that influenced it.

  • Review your decisions:

You cannot know whether your decisions were good or not without reviewing them afterward. With the big decisions, like suppliers, you may want to build in regular reviews to do this. A good decision after a period of 6 months may not still be a good decision after 18 months.

Related : 5 Best Decision making tips for new managers

Closure

In summary, we all have to make many decisions throughout our day to day lives. Some of these decisions require little effort, while on the other hand, some require more time and deeper thought before coming to a final solution.

Related : 7 Excellent Decision Making Techniques

Related : 5 Perfect Strategies for Improving Team Decision Making

Related : 6 Most Effective Executive Decision Making Styles

(The images used in the post are extracted from unsplash)