BUSINESS TRENDS WA-2020-WEEK 4

Decision making: Personality and its influence on Decision Making

Deisy Giovanna Saldaña Rodríguez

deisy.saldana@upn.pe
 Achievement of the week

At the end of the week, the students identify the influence of

decision making in the company future goals.
 WHAT IS DECISION MAKING ?

The process by which members of an organization choose a

specific course of action to respond to both problems and
opportunities.
WHAT IS BUSINESS DECISION MAKING PROCESS?

It’s a step by step process which allows business people to take

calculated risks by weighing different alternative and contrasting
among various opportunities.
 BUSINESS DECISION MAKING PROCESS

Identify the decision: Determine why this decision will make a

difference to your customers or fellow employees.

Gather information: Make a decision based on facts and data. Gather

information both from internal and external sources. By internal sources,
I mean the company’s record. External sources, on the other hand,
comprised of case studies, research reports by paid consultant or
external journals.

Identify Alternatives: The problem is identified and you have collected

the relevant information. Now, you should come up with more than one
alternative or option at least to choose from.
Weigh the evidence: Once you have multiple options to choose from.
Now look at your company’s wins & losses; and what it needs at this
stage.

Choose among alternatives: At this stage you are fully capable of

deciding at this stage.

Take Actions: Draw a proper, achievable and actionable plan. You

should let your team go on with their routine task after developing the
actionable plan.

Review Your Decision: Take a look back at your decision. Then ask
yourself does it answer the problem which you defined at the first
stage? Does it help you to meet your goals?

If the answer is yes, then move forward and make a note for future
references. If the answer is no, then remember we learn from our
mistakes and repeat the whole process.
WHAT IS PERSONALITY?

A characteristic way of thinking, feeling, and behaving. Personality

embraces moods, attitudes, and opinions and is most clearly
expressed in interactions with other people. It includes behavioral
characteristics, both inherent and acquired, that distinguish one
person from another and that can be observed in people’s relations
to the environment and to the social group.
 PERSONALITY AND DECISION MAKING

-Peoplewith a need to control tend to be better at analysing problems

and making decisions.

-Initiators are better at making decisions

-People with a strong need to affiliate and belong, and who are
extroverted, score negative. People-oriented people don’t do as well in
analytical decision making as people who are more introverted.

-Those with an interest in strategic thinking and operations control are

likely to be more effective in decision making.

-Decision-making also correlates highly with cognitive ability and

knowledge of economics, procurement, financial management, IT, etc.
-If
you’re very admin-oriented, cost-conscious and day-to-day focused,
chances are you are going to be less effective at making decisions.

Detail-oriented people are not good decision makers because they don’t
give themselves the opportunity to step back from the question and
think.

-Introverted people are better at problem solving than someone who is

collaborative and involves everyone in the process
THANK YOU !!!