Decision Making in business

Posted by Imam Larh on Wednesday, 14 March 2018

The more entrepreneurs experienced in decision making the greater the confidence and the more oriented to the actions. Therefore, it is necessary to understand the estimates or observations of entrepreneurial ability in making decisions, as follows.

1. How can entrepreneurs maintain confidence in making important decisions?
2. Show examples that illustrate the ability of entrepreneurs to make realistic decisions

3. What are the strengths and weaknesses of entrepreneurs making decisions?
4. How to take a decision on creativity or intuition in making decisions?
5. What is the wisdom of making a mistake?
6. How does the entrepreneur suspend decision-making?
7. How is the adjustment in changes in the entrepreneurial environment after the decision is made?
8. Is it usually forced to make decisions?
9. Are the usual actions taken after a decision is made?
10. How to use and utilize resources in the surrounding environment in making decisions?
11. How to lead to achieving the desired results?
12. How to use and utilize professional entrepreneurial and entrepreneurial contacts to obtain information that can assist in decision making?

With these conditions can be used as a reference in solving the constraints associated with ineffective and efficient decision-making. Therefore the entrepreneur should be able to see the decision making a decision by looking at every aspect of the problem and understand it as a whole. Past experience and intuition can serve as an important study in decision making that can not be ignored.

Make a decision (decision making)
Making decisions (decision making) is a process of selecting certain alternatives from several alternatives. So, making a decision is a process of choosing between different ways of doing the job. The more experienced in decision making, the greater the confidence will be
more and more oriented to an action. If an Entrepreneur is able to make a decision within reasonable time limits, he or she may be able to take a favorable decision so that at times business opportunities arise.

Here an Entrepreneur must quickly take a decision in order to use the best possible opportunity. Entrepreneurs who want to get ahead in business must be able to play the intellect by relying on intuition, creative and innovative ideas. 

They should also look at the issue in a broader context, keeping in mind that key decisions will have long-term consequences for its business operations. An entrepreneur is expected to be more active in and more creative because he has to make decisions without the help of quantitative data (numerical data) or the support of experienced staff.

The success of an Entrepreneur in the business depends on the ability to make decisions that increase the business in the future. The ability to make decisions can be gained from years of experience. However, in practice, there must be errors, which must be quickly realized and taken corrective action. In large companies, usually, the making and decision-making are based on the data and documentation of companies contained in surveys, business reports, and so forth.

This information has usually been compiled in a prescribed manner, according to the troubleshooting techniques. As for the guidelines for making decisions, the key is as follows.

  1. First, determine the facts from known issues.
  2. Identify, which areas of matter are not based on facts. In this known field, an Entrepreneur must use his logic, reasoning, and institutions to make decisions.
  3. Courage and enthusiasm are needed in implementing a decision
  4. Willing to take aggressive action in implementing a decision.
  5. Take moderate risks if there is great uncertainty
  6. In certain circumstances, it may be better to pass on something that has worked in the past.
  7. Stay away from decisions that will change drastically the current organizational structure
  8. Decisions need to be tested first.
An Entrepreneur must begin to implement decisions, all doubts and uncertainties should be thrown away. If you are faced with an alternative to choose, then make a judicious consideration. Gather various information and may ask others opinions. After that, take a decision and do not hesitate. 

With the various alternatives that exist in mind, Entrepreneurs will be able to make the best decisions. Many factors that can influence decision making (decision making), including motivation, perception, and learning process.

In the decision-making process, there are entrepreneurs who are capable of making decisions based on experience, and there are also entrepreneurs who behave automatically make decisions. If decisions are taken based on past experiences, they should also depend on place, time, entrepreneurship education,

  1. A creative Entrepreneur is the smart one to make the right decisions in his business.
  2. A successful entrepreneur depends on the ability to make decisions that increase profitability business in the future.
  3. An entrepreneur who wants to get ahead is highly dependent on future expansion and business sustainability
Factors and considerations make decisions
In managing its business, the wormusaha should make the final decision by considering the following factors and considerations.
  1. The size and complexity of the business.
  2. Hope for growth and business development
  3. Service facilities are available in the area for various system installations.
  4. The quality and quantity of staff available for the various types of training systems and facilities available
  5. The number of transactions that must be processed
  6. Financial factors.
An entrepreneurial business management process will include the development of ideas and strategies, people management, and system management to ensure business or business growth. Successful business or business, depending on the utilization of money resources, customers, physical property, human resources, and time spent. Furthermore, the personality and attitudes of an Entrepreneur in implementing decisions can affect the outcome.

Once a decision has been made, do not hesitate in applying it. Company employees will honor an Entrepreneur if he or she applies an orientation to action, and they will defend the decision taken. An Entrepreneur in his or her business activities must know how financial and non-financial information is reported to the decision maker. 

An Entrepreneur will have control over other people's decisions if he believes in the principle that "most decisions can be changed". If the employee is affected by the decision, then an Entrepreneur must be wise and inform that the decision can be changed if the results of his business cannot be achieved.

By making a decision and implementing it, an Entrepreneur must be able to monitor it. Monitoring effectively and efficiently about the implementation of a decision will reveal weaknesses in its business. 

The following are the factors and considerations that must be considered in making decisions.
a. Factors make decisions
Making a decision in a business or a business is not an easy task. In making decisions, an entrepreneur needs to pay attention to factors that can influence the decisions he/she makes.

1) Person factor
In making decisions, it is necessary to consider and consider the people who will feel the problem, as a result of the decision.

2) Psychological factors
In making decisions, an entrepreneur needs to pay attention and consider psychological factors, both tastes and feelings, such as emotions, thoughts, feelings, disappointments, and other psychological influences.

3) Physical factors
Making decisions is mental work. Therefore, in making decisions, need to be transferred toward physical activity
4) Targeted factors
In making a decision, an Entrepreneur should pay attention and encourage the direction of business or business in order to achieve the target set.

5) Time factor.
In making decisions, effective and efficient time should be sufficient to analyze the data and problems.

6) Implementation factor
The execution factor is a follow-up to every decision taken. Furthermore, it should be remembered that any decision will lead to a series of actions in making decisions.

Decision-making in business life is not so easy. Every alternative in the decision-making factor that is intended for all parties to be satisfied, of course, there are advantages and disadvantages. However, an experienced Entrepreneur must have the courage to make and make a decision the right, thorough, and fast.

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