Thursday, February 14, 2013

A630.4.4.RB - How Companies Can Make Better Decisions


Effective decision making in an organization affects not only the executives but the lower level employees as well. In my experience, decision making can contribute to employee engagement if these employees are involved in the decision making process and if the decisions made affect them positively. Employees want to feel a sense of ownership in the decisions that are being made in organizations. They want to be a part of the process to ensure that their opinions and feelings are being valued, and if they’re not, it will be hard getting them bought into the decisions that are being made. The quality factor of decision making affects employees the most, so if they are high in quality it could contribute to employee engagement.

I think the biggest impediment to good decision making is time. Organizations of every industry are forced to make split-second decisions that have significant impacts on their business, but often times it’s hard to make a quality decision in so little time. That is why organizations hire managers who have good decision making and critical thinking skills to be able to do this and have the most positive impact on the ones who are affected by the decisions. Another impediment is failure to collaborate amongst the organization. With so many different opinions, levels of experience, and perspectives on decisions it can be hard to agree upon a decision that is best for the organization. Collaboration and teamwork on all levels of decision making is essential organizational success through decisions.

I agree with Blenko when she states the four elements of decision making. In my opinion, quality is the most important because it has the longest lasting effect on the organization and its employees. A bad decision could make or break an organization’s culture, financial sheet, and reputation. Speed is the next most important because often times it’s what makes a decision good is when it’s made. In a world where competition is fierce quick decision making skills are an asset for any organization. Yield and effort go hand in hand, due to the fact that the amount of effort the organization places on implementing the decision has an impact on what the result will be from that decision.

I think the biggest take away from this video is knowing the elements of the decision making process and learning how to use them in everyday decision making, not just when making extremely important ones. I am in a position where effective decisions have to be made very quickly, so knowing this process and finding out that speed is a critical element will help to incorporate quality, yield, and effort into my decisions. 

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