Tuesday, April 12, 2011

Types of decision

Types of Decision Making

Some decisions are made quickly while there are others that involve a lot of deliberation. Then there are those that can't be altered as compared to those that can be revoked. Read on to know about the different types of decision making...

Different Types of Decision Making

The following are the most common types of decision making styles that a manager in a business or even a common man might have to follow.

Irreversible: These decisions are permanent. Once taken, they can't be undone. The effects of these decisions can be felt for a long time to come. Such decisions are taken when there is no other option.

Reversible: Reversible decisions are not final and binding. In fact, they can be changed entirely at any point of time. It allows one to acknowledge mistakes and fresh decisions can be taken depending upon the new circumstances.

Delayed: Such decisions are put on hold until the decision maker thinks that the right time has come. The wait might make one miss the right opportunity that can cause some loss, specially in the case of businesses. However, such decisions give one enough time to collect all information required and to organize all the factors in the correct way.

Quick Decisions: These decisions enable one to make maximum of the opportunity available at hand. However, only a good decision maker can take decisions that are instantaneous as well as correct. In order to be able to take the right decision within a short span of time, one should also take the long-term results into consideration.

Experimental: One of the different types of decision making is the experimental type in which the final decision cannot be taken until the preliminary results appear and are positive. This approach is used when one is sure of the final destination but is not convinced of the course to be taken.

Trial and Error: This approach involves trying out a certain course of action. If the result is positive it is followed further, if not, then a fresh course is adopted. Such a trail and error method is continued until the decision maker finally arrives at a course of action that convinces him of success. This allows a manager to change and adjust his plans until the final commitment is made.

Conditional: Conditional decisions allow an individual to keep all his options open. He sticks to one decision so long as the circumstances remain the same. Once the competitor makes a new move, conditional decisions allow a person to take up a different course of action.


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