|
|
What is decision making?
Home » Executive Coaching » Decision Making » What is decision making?What is decision making?
Every person makes thousands of decisions of every day—everything from which socks to wear to whether to change professions to whether to go to work on time. Many of these decisions are made simply out of habit, but they are still decisions that were made at one point in the past. Decision making is the process of choosing one course of action over another. Should your company expand or contract? Buy or sell? What is the rationale behind one choice rather than the other? What are the results of decisions like this that you have made in the past? How can you make better decisions?
One of the characters in J.K. Rowling’s Harry Potter series says, “It is our choices…that show what we truly are, far more than our abilities.” The same is true in business. Regardless of the potential or past success of an employee or company, it is today’s decisions that decide where that employee or company will be ten, twenty, or a hundred years down the road.
The number and complexity of decisions is increasing in corporate America. A recent study by Teradata found that seventy-five percent of the senior executives of top U.S. companies are making more decisions on a daily basis than the previous year. More than fifty percent of these executives said that decisions are more complex and over ninety-seven percent reported that the data on which they base decisions is increasing. Businesses that want to succeed must meet this challenge with ever-improving decision making skills.
Related Decision Making Articles
- What is decision making?
- What strategies should I use to analyze and make decisions?
- What should I do in preparation for making a decision?
- What should I do after I make the decision?
- How can I improve my decision making? Why do people make wrong decisions?