How You Can Make Better Decisions

On any given day, an adult makes about 35,000 conscious decisions on average. Of course, many of these decisions are made quickly without much thought.

Yet, there are bigger and important decisions that we make that directly affect our future. For instance, you will need to make a decision about which of the best MBA colleges in Bangalore you would like to enrol in. This decision can directly affect your future in terms of job opportunities and your salary package.

You will never know if a decision is right until after the fact. But great decisions are the ones that can stand the test of time no matter how things turn out in the end.

There are a few points to keep in mind when you need to make a good decision. If you keep the following metrics in mind, you will significantly decrease the chances of making bad decisions:

Situation Analysis:

What is the reason behind this decision? What would be the consequence if you didn’t make a decision at all? Who will the decision affect? Do you have any data, research and other information that can aid you in making the right decision?

Public Scrutiny:

There is no such thing as a private decision. At some point in time, the details of any decision will see the light of day. So think in terms of what the public would think if your decision comes to light. What would your family think?

How would stakeholders or employees react to your decision? You can even go so far as to seek feedback before making a decision.

However, the most important thing is to be willing to make the decision. Even when you have inadequate data, you must learn how to make the right decisions.

Don’t spend all your time trying to analyse every little detail. It's important that you seize the opportunity when it presents itself since you never know if you will ever find it again.

Lastly, always have a backup plan. The right leader understands that some decisions will not pan out the way they expected. Therefore, they always have at least one back up plan, should things go wrong.

At the end of the day, you can only do the best with what you already have. Furthermore, don’t ignore your intuition and gut feeling. Sometimes, they are all you may have access to.

Some of the top MBA colleges in Bangalore take training their students to be better decision makers very seriously. This is because they understand that in the world of management decisions need to be made every day.