Articles on Decision Making

Decision-making is an integral part of modern management. Decision Making process can be regarded as check and balance system that keeps the organisation growing both in vertical and linear directions

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This article deals with decision making in an organizational context where the managers at all levels and the CEO and vice presidents at the top of the ladder have to make decisions regarding each and every aspect of the organization.

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Individuals have a tendency to think and question before performing. This article disusses few pros and cons of individual decision making.

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Corporate decision making takes place at many levels of the organizations in form of - Top Down or Bottom Up Approach. Lets discuss the process of corporate decision making in detail.

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OODA Loop or the Observe-Orient-Decide-Act Loop is an important concept in decision making. The concept was proposed by the military strategist and member of the United States Air Force, Colonel John Boyd.

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Many companies have layers of hierarchy where decisions are made at the top level and passed down to lower levels. Lets understand how much does hierarchy matters in the decision making process.

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Self-Directed teams exists in all organizations where the managers of these teams have greater freedom. Decision making in self-directed teams must be encouraged without ceding complete control over the larger areas of policy and strategy.

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Decision making need not necessarily be a zero sum game where one party benefits at the expense of the other. Lets understand the concept of decision making and the zero sum game in detail.

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Decision making process requires thinking process, time, efforts, resources and also a little bit of knowledge and past experiences. Lets discuss the steps involved in the decision making process.

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Curious observation is the first step in the decision making process. With these two things: curiosity and observation i.e. curious observation you can make your decision process easy and also effective.

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Today Managers are confronted with uncertainty and ambiguity. To overcome this, use of scenario based decision-making is recommended - where the managers draw up possible scenarios that the company might face in the short term, medium term, and longer term.

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The business world is not what it used to be a few decades ago. With increasing complexity and rapidity of change, it is becoming extremely difficult for decision makers to plan for the longer term and respond to the immediate term events and trends. This article gives a 30,000-foot view of some of the dilemmas that decision makers face when they attempt to control the future and be certain about a business landscape that is overly uncertain.

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Business Decision makers have to grapple with complexity, reduced decision making time, increasing integration and interconnection, and ensuring that downtimes are minimal when faced with disruptions. This article examines the imperatives of designing failsafe systems and the challenges before the business decision makers. Some real world best practices are also discussed to provide context and apply theory to practice.

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This article discusses the VUCA or the Volatility, Uncertainty, Complexity, and Ambiguity paradigm that presents itself to decision makers in the contemporary business landscape. The key themes in this article are that the business leaders of today confront a radically altered and unfamiliar terrain, which they must navigate with vision and a sense of purpose.

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This article discusses the ways and means to actualize successful decision making in a confusing world. The key themes in this article are that business leaders must take inputs from a wide variety of sources, trust one’s judgment, cross check facts, and defer the decision-making without delaying it when confronted with a dilemma. The strategies to actualize decision-making are thus based on the latest research in behavioral science.

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In recent days, the announcement that the Energy Giant, Suzlon, has defaulted on its convertible debt has sent shockwaves through the investment and financial community. In this article, we examine this trend by discussing the genesis of the problem, the implications for the companies and the creditors, and the effect such defaults would have on the overall economy and business confidence.

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Increasingly, culture is driving strategy of both global and domestic firms. While this might seem that globalization is retreating, this article argues that as long as one takes the Glocal approach and thinks global and acts local, globalization can very well accommodate and absorb this latest chapter. On the other hand, culture is the glue that holds nations and firms together and hence, there is nothing wrong with it driving strategy.

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Figures about employment statistics are very important if one has to base business decisions on them. In this context, reading, understanding, and interpreting employment figures should be done after due diligence and careful analysis. Apart from this, the fact that there are several categories in the employment statistics needs to be kept in mind. Lastly, the Freelance Economy requires a different approach to capture freelancers in the employment statistics.

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In this tightly integrated and interconnected world, events in one part of the globe reverberate in their impact on other parts of the world. Thus, business decision makers would be well advised to follow geopolitical events and the ebb and flow of international events so that they can make better and informed decisions. Also, subscribing to think tanks and advisory and consulting firms would be a good idea as well. After all, forewarned is forearmed and hence, make informed decisions with knowledge and the right set of tools.

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The need for taking decisions based on instant gratification means that consequences are not thought through. In our 24/7 Breakneck world, the temptation to take quick decisions can backfire. Thus, business and political leaders need to be aware of the blowbacks from their decisions. This article examines these themes and outlines some suggestions that aspiring and working professionals can follow.

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All of us understand risk at a personal and collective level as far as our everyday lives are concerned. But how many would know that when firms operate in multiple regions and countries, they face risks that are uniquely local, uniformly global, as well as risks from volatility and uncertainty. Thus, this article explains the various risks that global corporations face by taking the terms Black Swan and White Knights as the underlying themes wherein the former relates to the unknown risks and the latter relates to the actions that can save the day for global corporations.

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