Decision Making for Leaders

Overwhelming our clients and even ourselves can be detrimental to the decision making process. When faced with too many options, we may choose to delay facing the decision itself. This can be very counterproductive when decisions are associated with strict timelines or due dates (just like this assignment!). Another potential consequence of having too many options is that we are more likely to make worse choices. The best choice of a group may not be so obvious when it is clouded by so many other options. Lastly, choosing from so many options may leave us with what many may call, a “sour taste”. I think we can contribute this feeling to our nature of retrospect. We often look back at other possible scenarios that could have happened if we chose differently. Sheena Lyengar has researched the negative issues associated with too many options and has found a variety of possible solutions. The first potential answer to too many options is to reduce the amount of options, or cut. Cutting

Initially posted October 21st. (Accidentally deleted) The power of multistage decision-making can create fathomable differences over a long term period. This form of multistage decision-making is subject to a difficult type of judgment, the ability to distinguish when to use intuitive heuristics or a dynamic programming model. This dynamic programming model uses mathematically structured formulas to calculate the chances of success for situations that have measurable figures. Unfortunately, not all decisions may use the dynamic programming model as they do not have a total utility that is linear, such as, changing the color of your hair or getting married. Some instances where I would use this decision making process includes one where I am offered to sell my home or take out a new credit account. These situations could surely be guided by the power of a dynamic programming model. My current decision making process relies on data and research. I often make a decision using plen