Learn about decision-making and the skills and strategies we rely on.
Decision-making is the process of choosing one of several alternatives. This could be choosing what we purchase, choosing how we handle conflict, or choosing what we want for breakfast. Depending on the importance of our decision and its consequences, decision-making can require careful deliberation and forethought or it can be relatively simple and automatic.
Decision-making is important because it is something we all do every day. Our decisions can influence the course of our lives, so it is essential that we understand how the decision-making process works and how we can choose the course of action that best fits our needs and values.
Decision-Making Skills
Decision-making skills are the abilities that help you make effective and informed decisions (Lee, 2007). A few key decision-making skills include:
● Critical thinking – The ability to objectively analyze and evaluate information, arguments, and assumptions.
● Problem-solving – The ability to break down complex issues, generate alternative solutions, evaluate their feasibility, and select the best course of action.
● Risk Assessment – Decision-making involves considering and managing risks. Skilled decision-makers can identify potential risks, assess their likelihood and impact, and develop strategies to mitigate or respond to them.
● Emotional Intelligence – The ability to recognize and manage your emotions and understand how emotion may influence your judgments and choices.
● Creativity and Innovation – These skills allow you to explore alternative perspectives, challenge assumptions, and consider innovative approaches to decision making.
● Communication and Collaboration – The abilities to communicate and collaborate include listening to diverse perspectives, seeking input, and working with others to gather insights and make informed choices.
Decision-Making Strategies
There are several decision-making strategies and techniques that individuals and organizations can employ to enhance their decision-making process. Here are some commonly used strategies:
Cost-Benefit Analysis
This strategy involves comparing the costs and benefits associated with different alternatives. It helps quantify and weigh the pros and cons of each option to make an informed decision (Ahmed & Omotunde, 2012).
Optimizing
Optimizing refers to choosing the best option among all of the identified alternatives (Ahmed & Omotunde, 2012). This strategy works best when alternatives are limited as choosing among more options often leads to a suboptimal decision.
SWOT Analysis
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. This technique involves identifying and analyzing these factors related to a decision. It helps in understanding the internal and external factors influencing the decision and can provide insights into potential risks and advantages (Leigh, 2009).
Six Thinking Hats
This strategy involves wearing different "hats" that represent different thinking perspectives. Each hat represents a different approach, such as facts, emotions, creativity, critical thinking, etc. This technique encourages diverse thinking and helps us explore a decision from multiple angles (Aithal & Kumar, 2017).
Scenario Planning
Scenario planning involves envisioning and analyzing different potential future scenarios and their implications. It helps us consider a range of possibilities and develop strategies that are robust and adaptable to various situations (Amer et al., 2013).
Devil's Advocate
The Devil's Advocate strategy involves challenging and critiquing proposed decisions. This approach helps identify potential flaws, biases, or blind spots in the decision-making process and encourages thorough analysis and consideration of alternative viewpoints (MacDougall & Baum, 1997).
In Sum
Decision-making is an essential and inescapable component of our daily lives. From decisions about what we wear to work to decisions about who we marry, our worlds are full of choices. There are several different strategies we can employ to make these decisions and skills we can develop to improve our decision-making strategies.
References
● Ahmed, M. T., & Omotunde, H. (2012). Theories and strategies of good decision making. International journal of scientific & technology research, 1(10), 51-54.
● Aithal, P. S., & Kumar, P. M. (2017). Ideal analysis for decision making in critical situations through six thinking hats method. International Journal of Applied Engineering and Management Letters (IJAEML), 1(2), 1-9.
● Amer, M., Daim, T. U., & Jetter, A. (2013). A review of scenario planning. Futures, 46, 23-40.
● Lee, Y. C. (2007). Developing decision-making skills for socio-scientific issues. Journal of Biological Education, 41(4), 170-177.
● Leigh, D. (2009). SWOT analysis. Handbook of Improving Performance in the Workplace: Volumes 1‐3, 115-140.
● MacDougall, C., & Baum, F. (1997). The devil's advocate: A strategy to avoid groupthink and stimulate discussion in focus groups. Qualitative health research, 7(4), 532-541.
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