Decision making is the mental processes resulting in the selection of a course of action among several alternatives. Every decision making process produces a final choice. The output can be an action or an opinion of choice.
These steps should be taken to create good outcomes:
• Objectives must first be established
- Objectives must be classified and placed in order of importance
- Alternative actions must be developed.
- The alternative must be evaluated against all the objectives.
- The alternative that is able to achieve all the objectives is the tentative decision
- The tentative decision is evaluated for more possible consequences
• The decisive actions are taken, and additional actions are taken to prevent any adverse consequences from becoming problems and starting both systems (problem analysis and decision making) all over again.
Example for bad outcome;
For example a sale manger take a decision to produce a new product in the market as he has many of the product still in the market .He made this decision on the analysis of the market and will be confident that he will get success but he didn't get that much success.
That could be the reasons.
Example for bad good outcome.
If we take this example in opposite the sale manager take decision about the same product after the decision due to some reasons there was some risk involve to launch the product despite he took risk and launched the product resultantly he gets full success for the product. Hence proved that bad decision creates good outcomes.
That could be the reason his decision gave the good outcome
Why was each decision good or bad?
Sometimes we take decisions which we think we have taken the correct decisions but the reality is something else means its consequences are negative. In contrast, the dicisions which we think according to our mental strenghth is wrong means its consequences will be negative and when the result comes the consequences is positive
Risk - Most decisions involve some risk. However, you need to uncover and understand the risks to make the best choice possible.
Consequences - You can't predict the implications of a decision with 100% accuracy. But you can be careful and systematic in the way that you identify and evaluate possible consequences.
Luck - according to my thinking luck might make a good decision with bad outcomes and make bad decision with a good out comes. Luck matters sometimes.
Feasibility - Is the choice realistic and implement able? This factor is often ignored. You usually have to consider certain constraints when making a decision. As part of this evaluation stage, ensure that the alternative you've selected is significantly better than the status quo.
Edited by Maheem on 5/3/2010 at 9:25 AM EST