Today, I will be sharing a decision making technique so you can start making wise decisions in your personal and professional lives. [img]http://qbizlinx.com/files/resized/291898/307;244;3118f08694bf3226e571694cdc88d62b91f5d6b8.jpg[/img]

Decision making is a part of our daily lives. When we wake up each morning, we decide either to get up or stay in bed. In fact we decided the previous night if to sleep or stay awake (could be with the help of caffeine). We make thousands of decisions daily, most of course are done unconsciously. Please refer to the previous post to learn more about the conscious and unconscious mind.

Making most decisions are extremely easy such as deciding to comb your hair after a shower or not. But there are some times when the decision you are expected to make is nothing short of a herculean task. Decisions that can alter the rest of your life. Decisions that determine the future of an entirely different person. Decisions that can make you or break you. Such decisions require proper guidance and accurate information.

One thing we all have in common is the undeniable fact that we have all had our own share of regrettable decisions. Now if you know someone who claims never to have made a bad decision, he is either lying or he avoids making decisions at all cost.



Making sound decisions is a skill that needs to be developed. Gut instincts (intuitive decision making) can only take you so far. You are likely to fall prey sooner rather than later to an act of misinformation, misunderstanding, manipulation, impulsivity or some other negative influencing factor if you do not make use of a Decision-making strategy like the one discussed below.



There are SEVEN steps in this strategy that will be discussed.



1. Make a list of all possible solutions or other options.
[img]http://qbizlinx.com/files/resized/291900/323;215;320374a210d824cd0a7a21a55ba351ffbe6043d4.jpg[/img]


To do this, you might have to brainstorm or get some other people to suggest other ways of which to handle the situation. Not doing anything can also be an option. And in some cases, it may be the best decision you make. The final decision you make after going through the other steps is based solely on the choice you make here.
Here is a scenario to work with. It isn't a complicated one but it will help you understand each step better.

You recently won a reasonable amount of money. Lets say 100 thousand Naira from a competition and you are thinking of buying a new smart phone. If you were to make a list of other things you could possibly get with that money, you'll find out that there are several other things you would like to spend the money on. For example, you might realize that you could also use the money to get that Samsung LED TV that you have been admiring each time you go window shopping. You can also choose to just save the money and not spend any part of it. That is also an option.





2. Determine time span available for you to make the decision.

Ask your self these questions:
How much time is available to spend on this decision?
Is there a deadline for making a decision and what are the consequences of missing this deadline?
Is there an advantage in making a quick decision?
Will spending more time improve the quality of the decision?


Lets say you chose to get the smart phone, most likely there will be no deadline to work with so you are free to take your time to decide what brand or model of phone to get. There might be advantage in making a quick decision in cases of ongoing promos. Likewise, spending more time before making the decision could be of advantage in a case where you are anticipating a drop in price or expecting a new, upgraded version of the present smart phone available.



This will give you a sense of urgency and prevent you from unending procrastination or would give you the comfort of time to make the best decision.



3. Gather information
[img]http://qbizlinx.com/files/resized/291904/224;224;ad3040d713d5500e193677169d8031d2d6016061.jpg[/img]
Before making any decision, all relevant information need to be gathered. You have to be aware of anything that could affect your decision before you make it and the effect of making it.

Adequate knowledge of the scenario will help you make a well-guided decision.

If there is inadequate or out-dated information then it is more likely that a wrong decision might be made. Also, if there is a lot of irrelevant information then the decision will be difficult to make, it will be easier to become distracted by unnecessary factors. Deal with only what is really important. In a group situation, such as at work, it may be appropriate for different people to research different aspects of the information required. For example different people might be allocated to concentrate their research on costs, facilities, availability, and so on.



It will only be wise for you to go online to read reviews on the smart phone you intend to buy. Don’t just stop there, compare it to other smart phones in your affordable price range. Check out other brands and models. Ask people for their opinions. People who own or have owned the exact model you are interested in can share their experiences with you. Who knows? You may end up finding a more affordable phone with relatively the same specifications or a phone with much better specs in the same price range.



4. Weigh up the risks involved
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Not all decisions you make involve taking risks but for those that do, you have to assess them properly. Generally, the amount of risk an individual is willing to take depends on:

The seriousness of the consequences of taking the wrong decision.
The benefits of making the right decision.
Not only how bad the worst outcome might be, but also how likely that outcome is to happen.
It is also useful to consider what the risk of the worst possible outcome occurring might be, and to decide if the risk is acceptable. The choice can be between going 'all out for success' or taking a safe decision.



In the case of purchasing a new smart phone, the risks involved are kind of limited. You may be taking a risk by choosing to buy a product by a not-so-popular brand or from a very new brand in the technology market. Or if you are thinking of buying the phone from an individual who is a stranger and not an authorized dealer because its cheaper. Making a wrong decision (e.g. purchasing the phone from a stranger) may present with consequences afterwards but they may not be too serious if you are lucky.



5. Decide on your Values
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Everybody has their own unique set of values - what they believe to be important and what they cannot do without.

Many people decide to buy a phone for themselves but different people buy different phones based on their own personal values. One person might feel that price is the most important feature, whereas another person might be more concerned with the current trend. Others might value the battery life, the screen size, the weight or simply the particular brand name. It may be a combination of all these.

Values in other cases may be Punctuality, honesty, Patience, frugality or extravagance, humility or pride etc. Depending on which values are considered important, different opinions may seem more or less attractive.

If the responsibility for a decision is shared it is possible that one person might not have the same values as the others. In such cases, it is important to obtain a consensus as to which values are to be given the most weight. It is important that the values on which a decision is made are understood because they will have a strong influence on the final choice.

People do not make decisions based on just one of their values. They will consider all their values which are relevant to the decision and prioritize them in order of importance. If you were to buy a phone, what would be the five most important factors to you?

6. Reflect on the Pros and Cons

[img]http://qbizlinx.com/files/resized/291899/147;160;6382dfea0202990b8973a1d0760f0b92b0935498.jpg[/img]

Consider the advantages and disadvantages of the possible solutions/options. One way you can use to evaluate the pros and cons of making a decision is to draw a table to compare the result of the decision when taken.

For example, you are torn in between buying that smart phone or a tablet PC which you discovered while 'gathering information'. Draw a table to show a list of the pros and cons of getting either of the devices.

Let the advantages of the ......
continue reading at http://qbizlinx.com/entries/general/decision-making
thank you.

written by Abdulquadr O.
www.qbizlinx.com
follow @qbizlinx01 for more business and personal developmental tips

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da_mcqute: ..

imagine you...sm1 is writin tynz dt partain to life nd u r dottin. SMH

dl_jbd: imagine you...sm1 is writin tynz dt partain to life nd u r dottin. SMH

Didn't you see the moniker of the OP? I guess, the OP did this because of those flies that buzz "FTC" err'where as if Seun pays them.

OP, nice one once again, awaiting the next thread from you. This topic na revision for me indirectly, exams coming soon.

kavey10:

Didn't you see the moniker of the OP? I guess, the OP did this because of those flies that buzz "FTC" err'where as if Seun pays them.

OP, nice one once again, awaiting the next thread from you. This topic na revision for me indirectly, exams coming soon.

thank u sir. all the best in your exams.

dl_jbd: imagine you...sm1 is writin tynz dt partain to life nd u r dottin. SMH

lol, thanx. i hope you learnt something tangible from the post