Decision Making in the Corporate World
A manager’s guide to making decisions in the business circle.
Decisiveness is the key to becoming an excellent manager. In this era of soaring competition between multinational corporations, the highest-compensated executives are paid for the decisions they make. According to the business experts, decision-making can be distinguished into two entities: The reversible and the irreversible decisions.
The reversible decisions are those quick judgments that can still be changed or revised after being settled. On the other hand, the irreversible decisions are firm appraisals for inevitable cases that are long-term in scope. A maybe is considered as no in the latter since as managers, you will be faulted twice – for not coming into a decision and for allowing the mistake to materialize.
As business executives, how can we incorporate the right decisions at the right time? The answer would be: follow our gut instinct. Be positive that the assessments we made are ninety percent correct. After all, in our daily battle within the corporate world, somebody has to make the verdict. If the decision is wrong, we should be professional enough to resolve the problem by gathering additional facts or seeking advice. Doing nothing is never an alternative. What matters is that we make the decision and we are not squandering the company’s valuable time.
