Introduction
Decisions constitute a major part of our everyday lives. The way we make these choices determined the very quality of our lives and whether we succeed or fail in our endeavors. These decisions are not only at a personal level but extend even to the realm of business where simple decisions impact on the lives of many and the course of an economy.
Yet all decisions follow a similar pattern and learning to use the right model is the key towards an effective decision making habit. Take for example my decision to pursue a major in human development and a minor in Special Education from this university. This decision was highly influenced by cost, sacrifice and practicality in a world of unlimited choices and limited resources.
Steps in Decision Making
There are many factors which influences an individual’s choice of both the university and university program. For me, the process was influenced greatly by circumstance and passion. The end of high school education brings a need to apply for college depending on performance and financial capability to pay for the cost of one’s choice.
My choice of disciplines was due to passion and demonstrated skills in the subject matter which constitutes the field of human development. Like many other students, an Ivy League university would have been the better choice but the cost of tuition in such institutions is way beyond the reach of many. So the process involved identifying the opportunity, evaluating the pros and cons of joining a particular program in a particular university and choosing the most practical option.
Bateman and Snell (2002) identify the following as the steps of making good decisions. Identifying what the problem is. The person faced with a decision must have the will to solve the problem and have the opportunity or resources to do so. First, one must brainstorm or identify possible solutions to the diagnosed problem.
Then evaluating the strengths and weaknesses of generated alternatives to choose one with higher probability of maximizing one’s welfare. This must be followed by making the decision of which alternative to adopt. Best to make a decision which has the greatest potential to better one’s circumstances. However, sacrifice is sometimes needed depending on circumstance and the available alternatives. The chosen alternative must then be implemented. Once a choice is made it should be enforced with total commitment. Finally, one must look back and evaluate the effectiveness of the chosen alternative. It is clear that the decision to enroll in this university was the right one and the knowledge of this decision making stages would not have altered it.
Bateman and Snell emphasize the need to make decisions based on the consideration of cost. The cost of implementing any decision with the corporate world is one of the major tenets which managers have used to make corporate decisions (Bateman and Snell, 2011). These decisions have far reaching consequences since the cost of any project might determine the level of innovation, quality and even productivity.
This in turn reflects greatly not only on the conduct of the managers but also on the company and might determine future profitability or lack of it in the future.
Bateman and Snell (2011) have one major theme behind all their decision models and that is the need to deliver results by creating collaboration and better leadership within organizations. My decision to forego one of the major Ivy League universities was based on consideration of cost and here lies the similarity between the influence of cost advocated by Bateman and Snell and my university choice.
Conclusion
This paper makes it clear the effect choices have on us and others. The way we make these choices becomes important if only to gain the ability to make good ones and refrain from making classical mistakes which lead us to misery. Needless to say that knowledge gained here will aid in making decisions which will shape our future for a long time to come.
References
Bateman & Snell. (2002). Management: Competing in the new era. Web.
Bateman, T. S., & Snell, S. A. (2011). Management: Leading & collaborating in a competitive world (9th ed.). New York, NY: McGraw-Hill Irwin.