Tuesday, 14 July 2015

Fast and slow decision making

“Human decision-making is complex. Our tendency to yield to short-term temptations  and even to addictions, may be too strong for our rational, long-term planning.”--Peter Singer

          Analysis of several successful people reveals that their decision-making ability contributes significantly to the success. In addition, it reveals a notable habit on their decision making process. They are FAST on making decisions and SLOW in changing the decision once taken.
  
          For example, Henry Ford demonstrated this habit in his decision making process. This habit only made him  to manufacture his famous Model T car for nineteen years  with only in black colour.When many of his advisors urged him to change the colour, he was firm in his decision to change till change became necessary .This firmness on his decision yielded him a huge fortune.
  
         Most of us have hesitated to take a firm decision in business or in family issues.Even if we take a decision, if  critique comes from many directions   or there are struggles, the immediate tendency will be to give up the decision.That is the moment, we move away from the fortune.


         Even though the decision making  ability  depends  on so many parameters like individual risk appetite, background, knowledge and the circumstances, the awareness  of  being  FAST on taking the decision  and SLOW on changing it will help to improve the quality of life. Reflect on your decision-making habit and you attract good things in life!