The Art Of Effective Decision Making What does it take to be a good decision maker?

Decision-making demands naturally differ from company to company and individual to individual, but there are some personality factors that usually contribute to decision-making talent. These are not talents you must possess from birth; they can be developed if you are willing to work at it:

Analytical Ability

A good decision maker is able to separate a problem into parts, identify and integrate relevant facts, and envision the consequences of a decision.

 Conceptual Ability and Logic

A decision maker must get meaning out of a large array of gathered facts. He or she must pull them together into one concept and see through it all to get to the root of the situation.

Intuitive Judgment

Up to a point, the decision maker looks at the situation analytically and logically, but intuition or “hunch” does come into play, too. Intuitive judgment is especially important when an immediate decision needs to be made, or when the facts cannot be gathered or are not clear.

Creativity

A good decision maker encourages new ideas or a fresh approach, recognizing that new or additional material is often necessary for the best decision. A good decision maker, even if he or she is not creative and able to generate original ideas, should recognize and encourage the ideas of others.

Tolerance

A decision maker must be tolerant of ambiguity and frustration and should be able to cope with uncertainties. He or she must also be able to deal continually with difficulties and frustrations, without becoming discouraged.

Open-Mindedness

A good decision maker makes the effort to listen to others and is receptive of their opinions and suggestions.

Positive Self-Concept

Self-concept influences effective decision making in two ways. First, people with a relatively poor self-concept often have a greater concern about how they look in the eyes of others, and may be unduly sensitive to social pressure. Instead of doing what they believe is right, they may find themselves doing what they think others feel is right. Secondly, individuals with a poor self-concept will experience greater anxiety than those with a positive self-concept. This anxiety may prevent a thorough search for an evaluation of alternatives. Individuals with a poor self-concept are less likely to make as effective decisions as individuals with a more positive view of themselves.
-Excerpts from the Research Institute of America

“Truly successful decision-making relies on a balance between deliberate and instinctive thinking.”
-Malcolm Gladwell

“Stay committed to your decisions but stay flexible in your approach.”
– Tony Robbins

“There is no decision that we can make that doesn’t come with some sort of balance or sacrifice.”
-Simon Sinek

“In any moment of decision, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing.”
-Theodore Roosevelt

“A true leader has the confidence to stand alone, the courage to make tough decision, and the compassion to listen to the needs of others. He does not set out to be a leader, but becomes one by the quality of his actions and the integrity of his intent.”
-Douglas MacArthur

“Part of making good decisions in business is recognizing the poor decisions you’ve made and why they were poor. I’ve made lots of mistakes. I’m going to make more. It’s the name of the game. You don’t want to expect perfection in yourself – you want to strive to do your best.”
-Warren Buffet

…and as Robert Schuller once stated, “Again and again, the impossible problem is solved when we see that the problem is only a tough decision waiting to be made.” How true!