Category: Decision Making

Introduction Decision-making is the central responsibility of executives and leaders. This includes the definition of the issue or concern and the awareness of the factors associated with it. This is a rational interpretation of what should be selected and may have an impact on the decision between choices. A significant part of any judgment is…

Introduction What is perception? Perception can be characterized as a perplexing procedure by which individuals select, compose, and translate sensory stimulation into an important and sound image of the world (Davison, Berelson & Steiner, 1964). In a similar vein, perception is tied in with getting, choosing, securing, changing and sorting out the data provided by…

Introduction Decision making is the first and foremost task for any kind of business enterprise whether small scale or large scale business. It is an important part of the management because the correct and accurate decision-making technique lays the foundations for the growth and survival of the business in the future. It also involves making…

Do we need a role model in our lives? What qualifications should role models have? Having a role model in our lives is very important because they inspire us in making decisions and keeping our spirits up, also, the attitude of a role model influences the people that look up to them. There are different…

Introduction Decision making models are the frameworks that allow organisations to understand the issues and take systematic decisions after reviewing the whole situation or scenario. Different businesses can adopt diverse range of decision making models depending upon the objective and the kind of problems they are facing. The significance of decision making style is high…

In the context of smarter mobility, decisions need to be made on various different levels: strategic, tactical and operational. The strategic level includes processes and activities for setting long term goals, policy development and visions. At the tactical level decisions are made on projects, funding and establishment of networks and partnerships. At the operational level…

Introduction The oil and gas industry is a company providing the necessary items and services that are required by the international oil and gas sector to explore extract and transport oil and natural gas at the refinery and then finally to the consumer. Schlumberger is the largest oil manufacturer company in the world and the…

Ethical issues that have a beset humankind since we human after started living together because of tranquil, orderly and productive communities must have certain rules and are not sustainable without any order which tells everyone what to do and what not to do. As the community growing larger after the certain period there have been…

Groupthink is a psychological state that occurs in a group of people. These people somehow desire to have order and a certain understanding in the group. Sometimes, this results in irrational or wrong making of decisions. This could even result in pathological disagreement in the group, mainly in decision-making. That is why it becomes a…

When making decisions in personal and professional lives, one must identify and compare opportunity costs. When comparing options, it is important to analyze every cost and other opportunities that one must give up. Choosing between taking an absence from work, moving out of town and pursuing a MBA degree full time or maintaining ones current…