Decision Making Tools: Part II- The Emphasis Curve


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


Whenever decision making process becomes complex or the interests at stake are too high, we often do not know what to decide or how to decide. Often people resort to tossing a coin, asking a friend, and times even visiting an astrologer, etc. These methods are not only impractical but also reflect the persons lack of understanding of the problem, lack of understanding of the decision making skills. However formal decision making process as well as support from an expert has many advantages. It not only helps us in understanding the problem but also provides us the best possible solution in any given scenario.


"A good decision is never an accident; it is always the result of high intention, sincere effort, intelligent direction and skillful execution; it represents the wise choice of many alternatives. When decision making is too complex or the interests at stake are too important, quite often we do not know or are not sure what to decide." (Arsham)


Decision-making is a rational process and can be studied, learned, and taught and therefore it makes the decision-making process a scientific method as it is based on logical principles. There is no such thing as "someone who is born a business person"; rather, one becomes a business person. If a successful business person is also a management scientist, then he/she can transfer management knowledge to other persons as well. The reasons why one must learn the decision making science are many but to quote a few are; the business is becoming more complex, the environmental changes are so rapid that past theories and practices are not appropriate anymore and that the cost of bad decision can be huge.

 

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About the Author:


The author is the Executive Director of Sportking Institute of Fashion Technology, Ludhiana and has working experience of over thirty years in knitting. He is also a qualified professional in Total Quality Management, Kaizen and Lean Production. He has his own company in the name and style of M/s Techknit Overseas Pvt. Ltd. and has worked as Indian agent of the top three computerized flat bed knitting machine manufacturers for many years. Currently he also looks after the interests of Toyota Tsusho India Pvt. Ltd. an associate company of the famous Toyota Automobile Company of Japan for Punjab and surrounding areas. He is also working as a marketing consultant for a Chinese Machinery Manufacturing Company and as TQM consultant for a few Knitwear Companies.


Click &sec=article&uinfo=<%=server.URLEncode(3009)%>" target="_blank">here to read Part I