Decision Making
Decision making is a mental process of selecting a course of action among the various option or alternatives to reach the desired result. It may take place at an individual level or at an organizational level. In case of organization level, decision making involves a commitment to the organization and to its resources to achieve certain goal and objective through a specific and selected course of action. The process of decision making involves the following steps:
* identify the objective
* gathering relevant information
* create options or alternatives
* evaluate the options and decide
* implement your decision
* act on the decision
Identify the objective: It is considered to be the most important step of decision making. This is because all the remaining steps in this process are based on it. So, there must be clarity on the objective. In other words, decision makers should know exactly what he wants to achieve as the end result. He should have a clear vision of the outcome.
Gathering relevant information: In this step, the basic motive is to assemble and collect all the possible relevant information related to the objective. Because it is these information which will help in decision making process. Hence all the related facts and figures should be collected.
Create Options: This stage of decision making process involves developing as many options as possible by brain storming without any evaluation. The basic aim should be to think and create all the possible related options.
Evaluate the options and decide: All the available options created have some benefits and drawbacks .So, all of them should be evaluated for their feasibility, acceptability and desirability keeping in mind the desired result. This helps to select and decide on the best options which have the maximum chances of achieving the defined objective.
Implement your decision: Implementation is that phase of decision making where your analysis i.e. the best alternative or option selected is actually put in action and the results starts coming up.
Act on the decision: This is the final and last step of decision making process.Here,the decision implemented is monitored .The outcome can be favorable as expected or it can be unexpected .In later case, when the results are unexpected ,necessary changes should be done to meet and fulfill the defined objective.
