Topic 7: Decision-Making Process

It’s important to note that decision-making is not always a linear process, and steps may be revisited or modified based on new information or insights.

Additionally, the level of complexity and involvement may vary depending on the nature of the decision, ranging from simple everyday choices to complex strategic decisions.

We face decision making every day in our lives, doing this with informed choices can predict positive outcomes.

Decision-making involves several steps (shown in next slide) that help in gathering information, evaluating options, and reaching a decision.

Image by Kellog School of Management at Northwestern University

Identify the decision to be made
Specially identify your goal, what do you want to accomplish, this is one of the most effective decision making strategies

Gather relevant information
For decision making it’s important to collect information that is related to the problem. This will give a better perception on what needs to be done and consequently generate ideas.

Identify alternatives
When gathering the information it’s important to identify alternatives for possible positive outcomes.

Evaluate the alternatives
After identifying the alternatives an evaluation should be addressed. The consequences are also something to consider.

Make a decision
This is the time to take a choice and execute the final decision. Does it feel right? Will it work long-term?

Implement the decision
Implementing the decision is to make sure that all that was planned so far, is done.

Evaluate the results
This is one if not  most important step, because it will help you to further develop your decision making skills for future problems.

Adjust if necessary
Adjusting is important if the outcomes don’t appear as expected. This means adjusting decisions, the need to adapt the results.