When making a decision, we form opinions and choose actions via mental processes which are influenced by
Biases,
Reason,
Emotions, and
Memories.
Act of deciding supports the notion that we have free will (Ability to make own choices and determine own fates).
We weigh the benefits and costs of our choice, and then
We cope with the consequences.
Factors that limit the ability to make good decisions include
Missing or incomplete information,
Urgent deadlines, and
Limited physical or emotional resources.
1. "what went wrong" are examples of
redundant deliberation and failures to act.
Decision-Making
Compiled by Col Mukteshwar Prasad(Retd),
Mtech(IITD),CE(I),FIE(I),FIETE,FISLE,FInstOD,AMCSI
Contact -9007224278, e-mail –
muktesh_prasad@yahoo.co.in
for book ”Decoding Services Selection Board” and
On Line Off line SSB guidance and training at
Shivnandani Edu and Defence Academy
2. Conflict: How Soldiers Make Impossible Decisions is
about making hard choices--where all outcomes are
potentially negative. From data drawn from interviews
conducted with soldiers about the situations they faced
and the decisions they made at war ,author explores
The cognitive processes associated with choice,
Commitment to action and (sometimes) error,
Goal directed thinking,
Innovation and courage.
Conflict invites readers to consider their own responses
under extreme circumstances and ask themselves how
they would choose between difficult options.
It will help readers understand what it feels like when
choosing between least-worst decisions.
3. Introduction
Decision-Making
Chocolate or Cake?
Play or Study?
Work or relax?
Heuristic(mental shortcuts our brains have developed over the
years to guide us in the best course of action help us) help us
make some choices quickly and automatically .
Some other strategy for better outcome may be
Maximizing vs. Satisficing (the first option that satisfies
certain criteria is selected, even if other, better options may
exist)
Fast versus Slow thinking, and
factors such as
Risk tolerance and
Choice overload
4. The Art of Decision-Making
When making a decision, we form opinions and choose
actions via mental processes which are influenced by
Biases,
Reason,
Emotions, and
Memories.
Act of deciding supports the notion that we have free will
(Ability to make own choices and determine own fates).
We weigh the benefits and costs of our choice, and then
We cope with the consequences.
Factors that limit the ability to make good decisions include
Missing or incomplete information,
Urgent deadlines, and
Limited physical or emotional resources.
5. Types Decision and methods of good decision Making
What are the types of decision-making? –Habit and Plan
Familiar situation-
Decisions are often fast and automatic(Habits are useful when
you’re in a familiar situation, but new territory requires a plan),
Based on longtime experience with what works and what doesn’t.
Unfamiliar Situation
Take time to weigh the potential benefits and risks when choosing a
course of action.
More likely to make mistakes and face negative consequences.
What is informed decision-making?
The ability to think critically is key to making good decisions without
succumbing to common errors or bias.
Use your Gut
Figure out Knowledge you lack
Plan to acquire lacking knowledge
Look for all possible sources of information with an open mind
Now you can make an informed decision based on facts rather than
6. Types Decision and methods of good decision Making
What are the methods of good decision-making?
A satisficing approach to making decisions involves
settling for a good-enough outcome, even if it’s flawed.
A maximizing approach, on the other hand, waits for
conditions to be as perfect as possible to minimize potential
risks.
Engaged in redundant deliberation tend to do two things.
First, they keep seeking more information even though
it is evident that in doing so there is nothing new that
would help inform their choice.
Second, they continue to oscillate between imaging
alternate future states.
People who make good decisions know
When it’s important to act immediately, and
When there’s time to wait and gather more facts
7. Making Good decision and ascertaining it is good
How to Make Good Decisions
Choosing between two or more options that seem equally
appealing on the surface?
Decision-making usually involves a mixture of intuition
and rational thinking;
Unconscious critical factors which makes decision-
making hard to fully operationalize, or get a handle on
Personal biases and
Blind spots
Steps to ensure that people make consistently excellent
choices
Gathering as much information as possible,
Considering all the possible alternatives,
Their attendant benefits and costs, and
Taking the time to sleep on weightier decisions.
8. Making Good decision and ascertaining it is good
How do you know if you’ve made a good decision?
In life, there is often no “right” decision.
When surrounded by an abundance of options
Decision paralysis
Feel less satisfied with your decisions.
May even blame yourself when really you are going
through “choice overload.”
The key is to find ways to simplify your decision and
Not ruminate over the many roads not taken.
9. What skills are necessary when making decisions?
Panic:
Accept panic as a natural feeling
Sleep on your panic/Review goals and strategies until you feel
confident enough to proceed.
Fear of Change:
Past habits must be discarded
Deferring to authority,
Succumbing to defeatism,
Procrastination, and
Fear of making the wrong decision.
Embrace your new ability and replace fear with
determination to achieve your goal.
Lack of Sleep:
Research shows that lack of sleep negatively impacts
decision making.
Inability to Address Priorities:
Clarify the problem and proceed with confidence rather than
be derailed.
10. What skills are necessary when making decisions?
Trade-offs:
Go back and try to renegotiate your solution. Or
Accept the fact that everything has a price. If the decision
helps you meet your priorities, then the price was right.
Acceptance Fear:
If you are worried about non acceptance of decision ,then
talk to stake holders and consider their views .
If convinced otherwise practice saying, “I am so sorry,” ever
so humbly.
Confidence Crisis: Take a minute to review your process;
make a pros and cons list; and then proceed with
confidence.
Fear of Failure. If you are willing to accept the praise for
success, you must also be prepared for consequences if you
fail.
Focus on the win;
Review your strategies;
Refuse to be intimidated; and
11. What skills are necessary when making decisions?
Keep Your Eyes on the Goal:
Sometimes when one is close to success, the realization
hits.
Step back a minute.
Talk with a trusted friend or colleague.
Never let time sabotage your own victory for the sake of
pleasing your ego.
Watch for the Secrets Backlash:
Telling others of your plans can result in reactions
Keeping the secret can result in an uprising when the truth
comes out.
Keep in mind that you don’t need to give clues.
What you owe yourself is to make a thoughtful, honest
decision in your own best interest and/or in the interests
of those you love.
12. Skills for decision Making
How can you sharpen your decision-making skills?
Slow down the decision-making process to prevent
impulsive choices.
Be aware of common sales strategies like nudges and
the decoy effect(human tendency to get distracted and
misguided by inferior decoy or trick options.), which
introduces a trick option to get individuals to make a certain
decision.
Gather as much information as you can,
Don’t allow the desires of others to dictate your
decision.