Tuesday 16 April 2013

Decision-making under uncertainty!


Take decisions diligently, calmly and without any haste.

Hasty decisions and belated decisions are both ruinous. Decision-making under uncertainty calls for more qualitative judgement than quantitative analysis. Decision-making  under uncertainty depends much upon the behavioural aspects of the manager. If the manager has the courage not to panic about the uncertainty of the situation and has acumen not to postpone or ignore or take an indifferent attitude to decision making, he is more likely to make rational decisions. 

Only a calm mind will help one make wise decisions that will leave little room for regret later.

A manager should choose his strategy accordingly to his wisdom about uncertainty of given environment and he may reach to these beliefs through a combination of reasoning and the knowledge of past behaviour. 

Please refer following link for some scientific ways to make wise decisions.


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