Introduction
Decision-making is one of the vital aspects of an individual’s life. One’s choice can influence the entire organization. A continuous process of making a decision is what makes up management in a workplace context. Managers of a company have the responsibility to make operational conclusions. The initial stages of planning, including the key products, role assignments, marketing strategies, and timelines in an entity, determine the overall performance of the whole business. Decision-making is the way people choose between various options by gathering information available. It is important to weigh the pros and cons before concluding on the alternatives obtained through proper research.
Basic Rules for Good Decision Making
When making decisions, some rules should be followed to make the correct choice. The decision-makers should recognize the problem they are resolving. It allows them to decide and address the issue. In an organization, the primary responsibility is to allocate resources in the best way that it can achieve its objectives. The pronouncements should be made overtly, so everyone knows what is expected of them (Timmer & Rietveld, 2019). Many entities make decisions so slowly that some employees must notify the changes. It is dangerous for management to decide without the involvement of the other workers. Every concluded point should be documented for reference purposes.
The decision criteria should be defined before the conclusion time. There is a possibility that members involved in the decision-making are biased. This, in most cases, leads them to decide what fits their biases. Only a few individuals should be involved in the process. The more the number of people, the longer they take to make a small decision. Many people contribute diverse opinions, making it difficult for all of them to agree to a certain conclusion. It is therefore advisable to have the least persons possible to ensure that the procedure is short and effective.
The decision-makers, therefore, need to define clearly the decisions to be made and inform all concerned parties. This helps them to think before the meeting of concluding whatever they discuss. They should identify any obstacles that they may face during the process. These challenges should be pointed out and resolved to make the procedure smooth. There should be a comparison of at least two alternatives because this helps choose what best suits their business. Good research should be done to obtain accurate information before agreeing on any matter (Timmer & Rietveld, 2019). The team involved must know their most important values and rank them according to the most imperative to the organization. They should not let other people decide on their behalf or let any events override their decisions.
Ways in Which Information is Gathered
There are diverse ways of gathering information that many people have used. Data can be obtained through interviews, whereby one comes up with a list of questions. Efficiency is required when conducting this research because the interviewee expects to answer what is already listed. The interviewer cannot forget any query since they are all recorded (Trainor, 2018). It is one of the effective ways of collecting info since they ask relevant questions. It can be expensive to carry out the process because, in most cases, it requires in-person interviewing. However, there are ways of limiting the cost, including doing it through a web chat or over the phone. It is time-saving since it involves open-ended questions and, therefore, cheaper than other approaches since they are more responsive and customizable.
Information can be gathered through observation, whereby no questions are asked. This approach is more subjective and calls for the researcher to be judgemental and more observant of the collected data. There is a minimal risk of biasness because one might conclude based on their feelings. Sometimes, for instance, the study may involve the number of people in a hotel at a given period; hence, low chances of obtaining the wrong info if they count correctly. Data collected through this method is reasonably reliable (Trainor, 2018). Still, variables are likely to occur if the investigator is required to make distinctions that may include the number of millennials visiting the restaurant hence introducing potential problems.
Documents and records are methods of collecting data when conducting research. Sometimes an individual can obtain considerable information without asking other people questions. In many cases, this form of gathering uses the existing data for the study. Examples of materials used include meeting minutes, attendance records, and financial records, among others (Trainor, 2018). Using existing records and documents can be inexpensive and efficient since the information is ready and complete. However, there are low chances of manipulating the results if the data needs to be completed.
Combining observation, interviews, and surveying can form a focus group. Several individuals who have something in common may be incorporated. The team can be requested to watch a presentation and then discuss the content before responding to interview-style or survey questions. Open-ended questions are often used in these cases since they share their experiences based on what they have seen (Trainor, 2018). The moderator of the group leader can ask the group to think back to any common feelings they might have rather than forwarding the issue to the future, where some might forget or give false information. These types of queries ground the investigation process eliminating external interference.
Oral histories have provided researchers with a means of obtaining information. This method involves recording, preserving, and interpreting available historical data based on the personal experiences and opinions of people present during the event. The oral histories approach is linked to a single phenomenon that may include the effects of the flood on a community. An oral narration from an individual who went through the incident can shed light on exactly what transpired (Trainor, 2018). It is an approach that uses various techniques when evaluating the entire procedure. The researcher can introduce a suggesting correlation or bias where no one exists, thus making the process inaccurate.
Questionnaires and surveys are a way of conducting research that asks closed-ended questions. Information gathered through this means can be analyzed in many different ways. It is effective when a large population is involved because, in some cases, numerical values may be required (Trainor, 2018). This approach requires careful planning because a well-designed questionnaire can result in accurate data. Information obtained can only be valuable if the forms provided to the interviewees are correct. The documents should be uploaded online since this is a modern and effective research method.
Ways in Which Information is Used Once Gathered
Gathering information before making any decision in an organization is vital. It helps the researchers or the decision-makers to analyze possible outcomes and reach the best option. The investigators can brainstorm possible alternatives before they settle on one choice. Data collected from surveys offer the best means of understanding the advantages of agreeing to a certain decision (Trainor, 2018). The process is the most crucial part of critical thinking.
Information gathered from research helps an organization make the best decisions that may include their market target, best products, and pricing methods. A company is likely to learn how to handle its customers well. They can agree on allocating the right number of employees in a certain area. They learn about their performance and competitors through research and involving external parties who provide non-biased information (Trainor, 2018). It is easier for an entity to set its prices if they know its target market and design its products according to the needs of the consumers. The data can be used to convince new customers depending on how the existing users purchase it. Increasing sales is possible to the current customers by reducing the prices or carrying out promotion methods in a given period.
How Decision-Making Helps an Organization
Decisions contribute to the important roles in a company because they determine managerial and organizational activities. There are ways in which organizations can maximize the value of decisions making. An organization should simplify and clarify its decision rights in its policy. They should identify who should be involved and who should communicate the conclusions arrived at (Scholl, LaRussa, Hahlweg, Kobrin & Elwyn, 2018). There should be clear guidelines on what decisions must be made and how the process should be conducted.
A fine and strong establishment of accountability for decisions is vital because it helps to evaluate outcomes against the agreed metrics. They help in determining the weak areas and how they can work on them to improve their performances. Aligning individuals should be considered to avoid unhelpful competition within the team involved. If there is no mutual understanding among the members making the decision, the procedure might be slow and sabotaged (McDowell & Mallon, 2020). This aids in fastening the process and reducing unnecessary debates that might endanger the workers’ performance. It is advisable to encourage the management to distribute authority because this empowers the employees at all levels (McDowell & Mallon, 2020). To avoid confusion, it is important to explicitly articulate which staff will be involved and under what circumstances. It is vital to prioritize the customer’s opinions since the core objective of any business is to make profits through sales (Scholl et al., 2018). Before making any conclusion, research should be conducted to understand the customers’ needs. This is a way of increasing the company’s responsiveness and the consumers’ influence on their wants.
Ethical Considerations To Be Addressed
Decision-making requires ethical values that include respect, fairness, trustworthiness, responsibility, good citizenship, and caring. These principles provide guidelines for a good foundation in business practice (Arifin, 2018). The team involved in decision-making is most likely at the managerial level, and when the process is followed professionally, the organization is expected to generate good revenue. This, in return, expands the business, increasing its sales and reaching out to more consumers. If the leadership of an organization involves people that can be relied on, the other operations run smoothly. The choices must be made by individuals participating voluntarily and consent-aware (Arifin, 2018). They should aim at not harming, maintain confidentiality and independence, and only assess the relevant components.
Conclusion
Good decision-making determines the overall performance of an organization. Proper research is encouraged to ensure that the outcome is the best and fits the organization well. Ethical considerations are key when deciding because the final agreement affects the internal and external operations of the company. A business is likely to perform well if the best decisions are incorporated. It is the responsibility of the management to ensure that suitable research methods are applied during the investigation process because this gives an assurance of obtaining accurate results that aid in arriving at the best choice.
References
Arifin, S. R. M. (2018). Ethical considerations in qualitative study. International Journal of Care Scholars, 1(2), 30-33. Web.
McDowell, T. & Mallon, D. (2020). Getting decision rights right: How effective organizational decision-making can help boost performance. Deloitte. Web.
Scholl, I., LaRussa, A., Hahlweg, P., Kobrin, S., & Elwyn, G. (2018). Organizational-and system-level characteristics that influence implementation of shared decision-making and strategies to address them—a scoping review. Implementation Science, 13(1), 1-22. Web.
Timmer, I., & Rietveld, R. (2019). Rule-based systems for decision support and decision-making in Dutch legal practice. A brief overview of applications and implications. Droit et Societe, (3), 517-534. Web.
Trainor, A. A. (2018). Community conversation as a method of gathering and analyzing qualitative data. Journal of Disability Policy Studies, 29(1), 2-6. Web.