Decision-Making Skills for Business Performance

Introduction

Experience is vital in improving decision-making skills that allow leaders to find optimal solutions and opportunities in corporate work. The business problem discussed in this report is the importance of elaborating on the abilities in decision-making that are critical components in business performance. The current paper covers the evolution of the decision-making skills and competencies that I experienced. It also features such themes as the reflection on the case using reputable sources and self-assessment of the ability to make decisions on the individual and group levels. It allows the assumption that decision-making competencies are critical in high-quality group performance management and personal and professional development.

Discussion

Major Decision Made

It is impossible to avoid controversial decisions in the professional experience, and I also had to solve such complicated issues. One of the examples of decision-making in my career was when I insisted that the group followed the company’s ethical principles instead of violating the rules for a quicker result. Even though it was not a popular decision, and I had to oppose the opinion of most co-workers, I understood that I was right. The events of the following days showed that my decision to pursue the organization’s ethical principles allowed the team to avoid serious problems. Our work was checked by the supervisors, even though it was typical, and the decision to make everything according to the rules was highly valued.

Decision-Making Steps Usually Skipped

Following the decision-making steps without skipping them improves the quality of the work and the results. It is necessary to identify the need for the particular decision to gather sufficient data on this issue to understand the background of the situation (Adair, 2022). In addition, the professional should understand the existing alternatives in the specific case, evaluate all advantages and disadvantages, and decide which option is optimal (Adair, 2022). Only after these steps should the individual take real actions and implement the decision (Adair, 2022). The last essential component of the decision-making process is evaluating the situation to make necessary conclusions and avoid potential future mistakes.

Improving The Quality of Decision-Making

The quality of decision-making can be significantly improved if the person does not skip the steps and takes enough time to conduct the research and the analysis. People often need to complete some steps or spend more time on some of the steps mentioned above. The main reason is that some steps require time and effort from the person, making their implementation challenging. For instance, many individuals need to spend more time on preliminary research and study the alternatives in detail. It happens because they underestimate the task’s difficulty where they need to make the decision. Sometimes, people do not want to spend time on additional investigation and evaluation. In other words, the individual factor is vital in effective decision-making that features all necessary steps to achieve the best outcomes.

The Benefits of Decision-Making as A Group. Self-Assessment

The benefits of decision-making as a group are connected with the distribution of the tasks and the ability to listen to other individuals’ comments. This interaction format supposes that alternative ways to solve the problem will be articulated, which decreases the chance of failure. I can work on my objectivity to improve the quality of group decision-making. In some situations, I express my opinion and disregard the facts, which is not entirely correct. I should support these assumptions with factual data to justify and rational my claims for better decision-making.

Conclusion

Decision-making is the essential competency that the person needs in their professional activity. Without the ability to make decisions that do not correspond to the typical scheme or order of actions, the individual might be frustrated without decision-making skills. It is critical to pay enough attention to gathering the required data, analyzing the alternatives, and evaluating the consequences of the decision. These recommendations will allow people to avoid adverse effects of their choices that can affect their careers. Taking time for the analysis before deciding is not synonymous with hesitation.

Reference

Adair, J. (2022). Decision-making and problem-solving: Break through barriers and banish uncertainty at work. Kogan Page.

Cite this paper

Select style

Reference

StudyCorgi. (2024, February 21). Decision-Making Skills for Business Performance. https://studycorgi.com/decision-making-skills-for-business-performance/

Work Cited

"Decision-Making Skills for Business Performance." StudyCorgi, 21 Feb. 2024, studycorgi.com/decision-making-skills-for-business-performance/.

* Hyperlink the URL after pasting it to your document

References

StudyCorgi. (2024) 'Decision-Making Skills for Business Performance'. 21 February.

1. StudyCorgi. "Decision-Making Skills for Business Performance." February 21, 2024. https://studycorgi.com/decision-making-skills-for-business-performance/.


Bibliography


StudyCorgi. "Decision-Making Skills for Business Performance." February 21, 2024. https://studycorgi.com/decision-making-skills-for-business-performance/.

References

StudyCorgi. 2024. "Decision-Making Skills for Business Performance." February 21, 2024. https://studycorgi.com/decision-making-skills-for-business-performance/.

This paper, “Decision-Making Skills for Business Performance”, was written and voluntary submitted to our free essay database by a straight-A student. Please ensure you properly reference the paper if you're using it to write your assignment.

Before publication, the StudyCorgi editorial team proofread and checked the paper to make sure it meets the highest standards in terms of grammar, punctuation, style, fact accuracy, copyright issues, and inclusive language. Last updated: .

If you are the author of this paper and no longer wish to have it published on StudyCorgi, request the removal. Please use the “Donate your paper” form to submit an essay.