South-Western - Management  
Four Strategies for Power Decision Making
Topic Decision Making
Key Words Decision making
InfoTrac Reference A113646105
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News Story

Not being able to make a decision is normal. Unfortunately, some business people let their fears of making a decision take over, causing them to put off making any kind of decision at all. Not making a decision or not taking action are actually passive decisions that typically have negative consequences.

Indecision steals opportunities. The sooner you make every decision, the more productive you'll be. The best decision makers use several different decision-making strategies on a daily basis. Here are four techniques:

  1. Light-Speed Decision Making - quick decisions on the spot, works best for smaller decisions.
  2. This or That - enables you to prioritize tasks to help decide what to do next.
  3. Heavy on the Intuition - ask yourself what feels like the best decision, the "trust-your-gut" method
  4. Cost vs. Gain + Values x Possibilities - create a grid with four columns, titled Cost, Gain, Values, and Possibilities. This allows you to logically see the best decision.
When you make quick confident decisions, you eliminate second-guessing yourself and get more done.

Questions
1.

Which of the four techniques listed in this article are you most likely to use on a daily basis? Why?

2.

Decision making skills are closely linked to time management skills. Name five reasons why this is true.

3.

Use the fourth technique listed in the article to analyze a decision you need to make in your own life. Was it helpful? Would one of the other methods be more useful in this case, and why?

Source "Four Strategies for Power Decision Making," Business Credit, Feb. 2004, p. 69.
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