Developing Habbit of Better Decisions11
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Introduction to Decision Making.
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Why Decision Making
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What is Decision Making Process
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Types of Decisions
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Types of Decisions
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Tactical Decisions,
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Strategical decisions
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Long-term Strategic Decisions.
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Resource Allocation Decisions.
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Risk Management Decision.
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Competitive Strategy Decisions.
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Innovation and Change Decisions.
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Ethical and Social Responsibility Decisions
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Operational decisions.
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Steps in the Decision-Making Process.
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Identification of Decisions to be made
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Clarify the Goal or Objective.
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Cather Relevant Information.
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Analyze the Current Situation.
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Define the Problem or Opportunity.
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Seek Input from Others.
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Prioritize the Problem or Opportunity.
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Validate and Test.
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Generating Alternatives.
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1. Define the Problem or Opportunity:
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2. Brainstorming:
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3 Research and Information Gathering:
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4. Refine and Develop Chosen Solutions:
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Evaluating Alternatives.
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1 Establish Criteria
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2. Weight the Criteria:
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3. Evaluate Alternatives:
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4. Collect Data:
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5. Analyze Data:
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6. Compare Alternatives:
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7. Make a Decision:
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Implementing and evaluating a decision
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1 Understanding the Decision:
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2 Planning for Implementation:
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3 Communicate and Align:
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4 Allocate Resources:
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5 Take Action:
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6 Monitor and Evaluate:
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7 Reflect and Learn:
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8 Celebrate Small Victories
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Utilizing Data-Driven Decision-Making- Corporate Decisions
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1 Understanding the Importance of Data-Driven Decision-Making
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2. Identifying Relevant Data Sources
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3 Collecting and Cleaning Data
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4. Analyzing Data
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5. Interpreting Data and Drawing Insights
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6. Making Data-Driven Decisions
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7. Monitoring and Evaluating Decision Outcomes
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Utilizing Data-Driven Decision-Making- Corporate Decisions
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1 Understanding the Importance of Data-Driven Decision-Making
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2 Identifying Relevant Data Sources
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3 Collecting and Cleaning Data
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4 Analyzing Data
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5 Interpreting Data and Drawing Insights
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6. Making Data-Driven Decisions
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7. Monitoring and Evaluating Decision Outcomes
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Effective Communication in Decision-Making
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1. Active Listening
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2. Clear and Concise Expression
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3. Non-Verbal Communication
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4 Building Trust and Psychological Safety
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5. Clarity of Purpose and Goals
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6. Use of Visual Aids
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7. Feedback and Collaboration
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7. Feedback and Collaboration
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Improving Critical Thinking Skills
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1 Improving Critical Thinking Skills
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3 Evaluating Arguments:
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3 Seeking Different Perspectives:
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4 Analyzing Information:
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5 Asking Thoughtful Questions:
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6 Applying Intellectual Standards:
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7 Reflecting on Your Thinking:
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8 Practicing Socratic Questioning:
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9 Engaging in Mindful Decision-Making:
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10 Seeking Feedback:
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Overcoming Cognitive Biases
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1. Understanding Cognitive Biases
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Confirmation Bias
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Anchoring Bias
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Availability Heuristic
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Hindsight Bias
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Overconfidence Bias
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Bandwagon Effect:
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Sunk Cost Fallacy
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Loss Aversion:
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2. Impact on Decision-Making
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3. Overcoming Cognitive Biases
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Awareness
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Encourage Diverse Perspectives
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Critical Thinking
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Data Analysis
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Slow down and Reflect
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Embrace Uncertainty
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Developing Intuition in Decision-Making
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1 Self Reflection and Mindfulness
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2.Seeking Diverse Perspectives
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3.Trusting your Gut Feelings
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4.Embracing Creativity and Non-Linear Thinking
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5.Incremental Decision-Making
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6.Building on Experience
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7.Learning from Mistakes
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8.Practice Patience and Meditation