Understanding the situation, weighing all the possible solutions and making the final decision.
Decision making is about taking the right decision at the right time. The decision making process starts with analyzing the current situation, weighing the various alternative solutions and circling upon the final decision that is usually made with a combination of facts and figures, experience and intuition. The process doesn’t stop at just choosing the right decision- one must continue to oversee the decision and its consequence(s) for feedback. Decision making is highly sought after skill for those looking to climb the corporate ladder.
The decision making process is especially beneficial when involved as a team. It allows for each member to share their opinion and knowledge, which the others can benefit from learning and understanding their viewpoints. It also brings forth many different, new ideas through such a discussion. A discussion in the decision making process can help employees feel more important and responsible and help boost morale.