Decision making. Or making decisions? – Severn Valley Business Group
 

Decision making. Or making decisions?

| Posted in Other Stuff

Whilst its easy enough to make some decisions, ones that won’t hurt too much if they aren’t the best choice, decisions involving complex information, large sums of money and affecting you, your family, staff, finances etc need a bit more thought and the application of hardness tests.
Thinking about this I came across a bit of advice on the subject from Dartmouth College, Massachusets for their students when deciding on courses to take. As they are an Ivy League College I am happy to accept they know what they are talking about. They split it down into 7 steps which I will set out below. Apply your own knotty problem to them and see how you get on..
Step1. You realize that you need to make a decision. Try to clearly define the nature of the decision you must make.
Step 2. Collect some pertinent information before you make your decision: what information is needed, the best sources of information, and how to get it. This step involves both internal and external “work.” Some information is internal: you’ll seek it through a process of self-assessment. Other information is external: you’ll find it online, in books, from other people, and from other sources.
Step 3. As you collect information, you will probably identify several possible paths of action, or alternatives. You can also use your imagination and additional information to construct new alternatives. In this step, you will list all possible and desirable alternatives.
Step 4. Draw on your information and emotions to imagine what it would be like if you carried out each of the alternatives to the end. Evaluate whether the need identified in Step 1 would be met or resolved through the use of each alternative. As you go through this difficult internal process, you’ll begin to favor certain alternatives: those that seem to have a higher potential for reaching your goal. Finally, place the alternatives in a priority order, based upon your own value system.
Step 5. Once you have weighed all the evidence, you are ready to select the alternative that seems to be best one for you. You may even choose a combination of alternatives. Your choice in Step 5 may very likely be the same or similar to the alternative you placed at the top of your list at the end of Step 4
Step 6. You’re now ready to take some positive action by beginning to implement the alternative you chose in Step 5.
Step 7. In this final step, consider the results of your decision and evaluate whether or not it has resolved the need you identified in Step 1. If the decision has not met the identified need, you may want to repeat certain steps of the process to make a new decision. For example, you might want to gather more detailed or somewhat different information or explore additional alternatives.

There you have it. Hardly necessary for choosing red or white wine, but a useful tool when considering major purchases, pensions, family moves etc.

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