Decision Making
Improve your decision making.
The ability to make good decisions is the highest paid management skill.
With limited resources, the small business manager can follow most of the concepts used by executives of large corporations.
Decision Analysis
Of all the management skills, decision analysis is the one that is most handsomely rewarded. Making good decisions is difficult, thorough decision analysis will increase the likelihood of a good decision...
Problem / Opportunity Definition
Someone coined the word "probortunity" to combine the word "problem" with the word "opportunity" as a reminder to look at problems as possible opportunities...
Composing a Backgrounder for a Decision Analysis
This section provides the historical information that is pertinent to the making of the decision...
Composing a Situation Description for a Decision Analysis
In this section you are describing the current situation and the information you have gathered. The quality of your final decision depends, in a large part, upon the information gathered and how it has been analyzed...
Listing Alternative Solutions for a Decision Analysis
In this section you are listing all the possible solutions. The quality of your final decision increases in proportion to the exhaustive, comprehensive and creative variety of your alternatives...
Evaluating Alternative Solutions for a Decision Analysis
After listing all possible solutions you must now evaluate these alternative solutions...
Using a Decision Ranking Matrix
Final Decision / Recommendation of a Decision Analysis
In this section you are recommending the action to be taken as determined by your analysis of the problem or opportunity...
Making Decision under Certainty and Uncertainty
Decisions are made under two types of conditions, certainty and uncertainty. The small business manager faces decisions that could result in a disaster from which he or she may not be able to recover...
Many Options Yield Better Decision Making
The most important element in making good decisions is to begin with a wealth of alternative options from which to make a final decision...
Benefits from Writing a Decision Making Document
You may question the investment of time you expend on writing a formal document just to make a decision about a problem or an opportunity...
Decision Making Chart for Small Business Decisions
This decision making method is derived from more complex models from the realm of management science. While there may be more accurate matrices and models for complex decision making, this method is simple enough to encourage the small business manager to readily use it for most major decisions...
Quickie Decision List
This decision making list is a companion for the more extensive lists in the skills and tools sections...
