PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
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nathraoQ. 1 Is it true that decision making is not everybody's cup of tea?
Firstly to take decisions, one must be thorough with the subject matter, effects of decision, circumstances etc.Taking decisions is possible for everyone,but point is whether decision is informed one or not.
Q. 2 Is it not a gut feeling to take decision however wrong it may be as pitfalls, if any, may be rectified later on to solve the problem of the organization?
Taking decisions based on gut feelings may prove right at times, but decision making is far more complex and linked matter.
Your decision will unleash a set of changes.
Are you aware of the impact of decision on all stake holders?
Have you thought of the ways to put in effect the decision taken.
Q. 3 Is it true that only the ethical Managers/Leaders can take better stand and decision under critical situation of the organization?
Ethical leadership is badly needed for an organisation to do well.
Just think why Tatas and TVS group is doing so well and fully trusted in the market.
Their ethical and legal conduct puts them a class apart.
Ethical decisions are good but in real life ethical managers are always under pressures from lobbies and interested groups.In long run ethical leadership will produce best results, but in short run focus and sticking to ethics may bring short term issues.Ethics may prevent a leader from managing a contract but others may manage their ethics better and secure the contract/order.
Q. 4 Is decision making an inborn skill or developed by an individual over a period of time?
Decision making: the act or process of deciding something especially with a group of people.
Everyone can take/does take decisions in their daily life, field of work.
But learning, knowledge, experience gives decision making an effective edge.
Inborn skills can include sharp intelligence, observatory powers etc, they help decision making, but a skilled decision maker operates on knowledge of process, environment, time management and timeliness and a deeper insight into the issue on which decision is to be made.
My personal suggestion would be take decision systematically,follow a logical and oredered process of obtaining information,issues,linked issues,stakeholders,options and then take best decision possible.
From India, Pune
Dinesh DivekarDear Mr Nathrao,
Thanks for providing the additional inputs on the subject. While taking business decisions or in personal life, taking decision under assumptions is a major bane.
Person none less than Mr Ratan Tata once saw a family four riding on 2-wheeler. He thought why not to manufacture a cost-effective that suits the needs of the lower middle-class family? This is how Rs 1 Lakh (or US$ 2,500) car Tata Nano rolled out.
However, when the project took off, the market realities turned out to be different. There was no demand from lower-income groups to whom this car intended. It was considered as toy by higher-income groups and they purchased it as their second or even third car. Now the project is about to be scrapped.
In the social situations, marital discord arises because of the assumptions about the other side. Once these are discovered after the marriage, these come as shocker. Few put up with the shock of assumptions. Those who are unable to bear, walk out of marital life. Nevertheless, in India it becomes one of the most distressful patch of one's life.
From India, Bangalore
nashbramhallDinesh has given apt examples of decisions made on assumptions leading to problems. The example of Tata's Nano car, reminds me of the advice given by a tutor on a Management Skills course. He said "Never assume; because a wrong assumption leads to making an ASS out of YOU and ME." He had spelt the word assume as "ASS U ME".
Many a time, even company directors take decisions buy other companies way above their market rate due to Ego problems, leading to the collapse of the market value or even going into liquidation.
From United Kingdom