Decision making is stated as the selection of a procedure through which best solution alternatives could be weighted in order to identify and evaluate the related solution to specified issue/ problem. Also, there are some situation in which the individuals need to take strategic business decisions so this time, high need to have proper knowledge related with different decision-making skills and styles raises respectively.
It has been analyzed that there are four major decision-making styles such as- directive style, conceptual style, analytic style and behavioral style those could be opted by the decision makers as per the situational requirements. An individual’s way of thinking highly matters while taking any business decision that is of great need and use. It has been seen that leaders make use of different decision-making styles and theories in order to well-justify the situational requirement. An individual’s personality traits and his way of thinking better specifies his decision-making preferences.
STYLES OF DECISION MAKING
Decision making is of several types and each of decision-making style comprise of two key factor that is mental ability of a person to analyze and evaluate a situation, and his personality traits as well. Different decision-making styles are- directive style, analytic style, behavioral and conceptual style. Each one of these decision-making styles is explained below this section-
• Directive style: In this kind of decision-making style, the person is of directive nature. Such decision maker is considered as highly aggressive in nature because he expects immediate results from the action taken by him. It also has been analyzed that this kind of decision maker takes charge of a situation and make quick decisions based on specified situation. Thus, it could be summarized that this kind of decision-maker believes on the successful achievement of short-term results instead of long-term solutions of specified issues.
• Conceptual style: According to this decision-making style, the decision maker looks at each of the problem in an artistic way. These kinds of leaders are of unique and creative type and usually prefer such decision that is outside the box. Such kind of decision makers take a broad problem-solving vision.
• Analytic style: Individuals with analytic decision-making style prefer to solve problems with similar interest that is in solving puzzles. Proper data analysis is performed by such decision makers before finalizing his decision to evaluate its effectiveness in context with majority of people. Such decision makers also prefer to use different analytical approaches such as- direct data observation, fact observation while making final business decision.
• Behavioral style: Individuals who prefer to work well together in order to eliminate conflicts usually prefer behavioral decision-making style. Such decision makers are considered as persuasive talkers and also the one who like to work in a group with excellent negotiation skills.
STEPS TO MAKE AN EFFECTIVE AND INFLUENCING DECISION
Following are some key steps those are used to make an effective and influencing business decision-
• In first step, the actual problem is identified by the decision maker by analyzing all respective facts and figures.
• Secondly, he generates multiple possible solutions for the problem identified by him at early stage of decision making.
• In third step, the respective solution most likely deemed to solve the problem.
• At last, best possible and highly suitable solution is implemented over particular issue or problem in order to evaluate its effectiveness.
HOW DECISION-MAKING STYLES HELP THE INDIVIDUAL?
An effective business decision making style helps the individual ion taking best possible decisions related with professional growth rate of the enterprise. Strategic decision making is one of the key approaches that is initiated by a person with the effective use of his analytical and strategic thinking skills. An effective decision could better assist the decision maker in overcoming several key issues and threats within few moments.
From the overall research and analysis conducted to write the above article it can be concluded that a decision maker is free to choose any decision-making style as per his key preferences and personality traits. An individual is free to chose any style of decision making just to evident the decision taken by him in context with any specified situation. An influenced decision-making style is considered as the one that results in excellent and several positive outcomes respectively. Decision evaluation can be done on the basis of analysis of end outcome of respective decision taken by the decision maker after conducting thorough research and analysis based on different key facts and evidences.