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The Three Components of the Art of Decision Making

Decision making isn’t the job of everyone, simply because everyone can’t make the decision. Not by power utilizing the ability. Decision making becomes very hard often by the experts too. But their experience and the visualization of the problem get the solution out of any problem. But do you know what are the 3 components of the art of decision making?

Well, if you are wondering and want to know about the 3 components of the art of decision making, then congrats you are scrolling the right article. In this article, you will get to know why decision making is very hard as well as what are the 3 components of the art of decision making. So let’s get started.

Art of Decision Making

 

Why Decision making is so hard?

Decision making is indeed an art and not everyone’s job. The future of a company depends on the decisions. Every time a company made a mistake, the company goes down slowly and in case of a big mistake dome, then the degradation will happen exponentially. That’s why every company take a decision only after meeting all the leaders as well as the experts. No one wants a mistake. For instance, “Blackberry” was a renowned company for making the premium quality of mobiles, but how many mobiles do they sell now?

The unsuccessful of this company didn’t appear suddenly, the company took many wrong decisions about the design as well as the underestimation of the competition. So yeah decisions can change the fate of any company. But still, you need to know what are the 3 components of the art of decision making.

 

What is needed to make the right decision?

The important things needed before taking decision taking,

  1. One must understand the problem before making the decision.
  2. No experiment should be done with sensitive matters.
  3. A man who has good anticipation and understands the market should be consulted before taking any decision.

 

Three Components of the Art of Decision Making

Framework:

A company-wide decision-making framework is helpful for decision making. In a company, the roles should be distinct but collaboration may exist. Furthermore, Over-collaboration seems to be more common than under-collaboration. And it leads to analysis paralysis, wasted time and effort as well as unclear responsibility.

 

Behaviours:

Once the framework is created, then the company must recognize and reinforce the behaviours which influence the decision making of the leaders. Never underestimate the role of emotion. There is a rile of emotion with the logic and the data.

 

Governance:

Now if the only framework and the behaviours are made, it won’t work, there would be the third component which will see, whether the framework and the behaviours are working properly or not.

So, we hope that you have liked this article and got to know what are the important components of the art of decision making. Furthermore, you have also learned why decision making is hard and what should be done before taking a decision. If you wish to learn on the Art of Decision Making you can also follow the pioneers of this field like Nick Gamache CBC and others. Nick Gamache Journalist has spent more than Fifteen years in the Canadian media circles where he gained extensive experience in writing and performing for broadcasts as well as writing and editing online content.

Written by eGoing

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