Bad Decision Making

Since there are many opportunities in ones life to make decisions, there will come times when a bad decision is made. While one will always be faced with the potential to make a bad decision, these decisions are easier to avoid with some knowledge about why these decisions are made. According to Daft and Marcic, there are factors to know about that can help avoid these, such as, "being influenced by initial impressions, justifying past decisions, seeing what you want to see, perpetuating the status quo, being influenced by problem framing, and overconfidence." (Daft and Marcic, p. 227-228) The biggest of these factors for myself to take account of is overconfidence. There have been times in the past where I was fully confident that I understood all of the implications of a choice, only to realize later that I failed to think about other factors. To combat this, I know I will have to take more time when making important decisions, as well as listen to the ideas of more people so as I have more information about the problem at hand. By translating these managerial decision making factors into my own life, I know that I will have more success in avoiding making bad decisions.

- Sayuz

Sources:
Daft, Richard L. Management. 9th ed., Cengage Learning, 2018.