Making an important decision !
Monday, April 17, 2006
The importance of a decision is directly proportional to the difference it makes in the context concerned. A right decision makes the right difference and results in desired results. But, how can one be sure if the decision is right at the moment one makes it? Because, you always have the unknown factor and the bigger it is, the higher the risk of your decision. Most times in life, the value of the unknown factor cannot be correctly quantified and hence the exact risk cannot be quantified when the decision is made. So, only when the difference of the decision is felt, one understands if the made decision was right.
But, how does one make an important decision given that there is always going to be an unknown factor (read risk) !
One way is, consider three possible effects because of the particular decision. Best, Realistically achievable and the worst effect the decision could make. Compare the realistically possible effects of a particular decision with that of the realistically possible effects the available alternative decisions could make. Pick up the decision that has more desired realistic effect. Motivate the team to achieve the best possible effect of that decision. This would ensure atleast the realistic effect is achieved, which makes it obviously better than the alternative decision possible. Anything better than the realistically expected effect the decision could make is going to be an added bonus and the worst effect could be obviated. This approach doesn't consider the fact that in most of the cases the best, realistic or worst possible scenarios cannot be exactly defined, thereby making the comparison of the decisions harder. But, still this is one approach that could give a clarity of thought on making an important decision and help us reduce the alternatives available.
What could be a better approach for making an important decision ? Keep sharing !!!
Posted byPraveen J at 8:24 PM
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