5-Step Decision-Making Process
Mastering good-decision making is important in business because everything is about decisions. Organizations make profits or losses because of their respective decision. Thus, one has to learn the best method that offers the best solutions. It is worthy noting that stepwise decision-making is not inherent but people acquire it through experience. However, it is also true that experience can breed bad results, especially when people dwell on bad habits that hamper business growth. For this reason, it is important to follow tested and approved method of decision-making, which has give steps as discussed below.
Identify the goal: The first step is to identify the goal. Regardless of the decision you make, you cannot avoid your ultimate goal. In this context, your goal refers to knowing the exact problem that requires a solution. Besides identifying the problem, it is equally necessary to know if you need to address the problem at hand. At this point, you figure out what matters to you in order to reach a final solution. When you appreciate why you intend to take an action, you defend the decision to the end and defend it throughout.
Gather information: The second step is gathering information to way the available options. For excellent decision-making, you need information on the problem at hand. Through this, you establish what you need to do to address the problem and helps you generate ideas for viable solutions. When gathering information, consider working with a range of options and possible alternatives even those that may appear unrealistic in the beginning. Importantly, seek information from reliable sources like experts in a field or from trustworthy friends. The best solution comes from numerous options on the table.
Consequences: Thirdly, consider the effects of the decision. From this, you visualize how the decision will affect you and people around you. Ask yourself probable outcomes of the decision you are about to make. Does it affect you now? How is it likely to affect you in future? The main advantage of this stage is that it helps you weight the merits against demerits of the decision. Moreover, it makes you feel comfortable because it allows you to analyze every possible solution critically.
Make the decision: The fourth step is making the decision. Having identified the purpose of your decision, gathered information and weighed different options, you are good to execute the decision. It raises the level of adrenaline, as one has to believe in his/her instincts. Understanding the feeling at this level is vital even though you may be indecisive about the move. To feel better, ask yourself if the decision works well for you and if you can still adopt it in future when handling related issues that require a similar response.
Evaluation: The fifth step is evaluating your decision. Implementing a decision alone is not enough. You need to review the steps you went through. This is step requires the same measure of attention as the first step. It further allows you to improve your future decision-making skills since you are able to identify the mishaps in your methodology. With this knowledge, you can make changes and adopt better decision-making processes.
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