Making business decisions

[Gilead]

To be a rational business decider, you need to be very observant about everything around you. You need to take into consideration your competitions, your customers. How some government polices affect your business and so on and so forth.

 

[Heatman]

Making business decisions is a tricky place to be. You have to be sure you are not letting greed and emotions get the better of you. You have to be clear in the head and be sure that decisions are taken in the absolute best interest of the business.

Personally, my company's business decisions are always supposed to look out for my business growth first before any other things. It doesn't matter if I'm greedy or not, or emotionally influenced but as long as my decision favors my business, I'm absolutely satisfied.

 

[Richmond funke abosede]

Making decisions — both large and small — is critical to the success of a business. Decisions come from the need to solve a problem or the need for a potential opportunity. Gathering the right amount of information and input from key stakeholders is essential for making informed decisions. Following one of the few accepted processes to collect intel and objectively weigh the pros and cons of the data can help steer you away from making unsound decision

 

[Sariana23]

Every business is always going to be faced with one problem or another but how you manage the problem is what's going to determine the survival of the company's business. My business had a financial problem in the past but I found a way to inject funds into the business and save the business.

Exactly @Heatman, all companies at any point in their history will face many kinds of problems. The goal is success, which is what we all hope for. Therefore, knowing the problem and finding possible solutions such as the situation you presented, the appropriate decision is made to move forward, and reach the goal set.

 

[Sammyesx]

One way or the other you will have to listen to advice from people especially if you are just starting but the thing is you have to analyse those ideas before taken them. Take advice from people that have been successful in the business you are into.

 

[Kiko]

Starting a business is a major feat that comes with endless decisions. Many small business owners find themselves paralyzed in decision-making phases of their businesses, so it is important to employ various strategies to help you successfully make the right choice. Every entrepreneur will face a challenging decision at least one time in their career. There are several skills and traits you can develop, though, to become adept at accurately judging the situation and making wise decisions. If you already possess these decision-making skills, even better.

 

[Herzhan]

My No1 advise would be

Learn to stop eating up people's opinions.

People say things based on how they feel.

No matter how smart you think the person is, he's still a biased human.

Filter appropriately, know what works for you.
Here's what I'm saying:

Nobody is flawless.

No matter how smart someone sounds sometimes, he still makes mistakes.

So, don't be blind.

Open your eyes and learn to listen with your head (logic) and not your heart (emotions)

1. Identify the end goal, and the need for the decision.
2. Gather all the relevant information.
3. Identify various viable alternatives. ...
4. Compare all the evidence of all the alternatives, and list the pros and cons.
5. Choose the decision.
6. Execute the decision.

 

[Victor-t]

Decision making is key in a business. You must be quick in decision making. Also make sure you make the best decision when trying to be quick. Decision making controls the pressure in a business

Making business decision is the act of making a choice among many others business, i.e making a decision on which kind of business you want to engage yourself in, and before chose you must consider the one that you can perform excellently most.

 

[Hasan Raza]

As a rational business decision maker, you need to become a keen observer about everything around you. You need to take into consideration your competitors, your customers. How some government polices affect your business. So always make wise decision.

 

[Heatman]

Exactly @Heatman, all companies at any point in their history will face many kinds of problems. The goal is success, which is what we all hope for. Therefore, knowing the problem and finding possible solutions such as the situation you presented, the appropriate decision is made to move forward, and reach the goal set.

There is always to any business problems if you are looking for it but some lazy business owners won't have time to look for how to solve the problem or get capable hands to help them fix the problem but be busy blaming one staff or another till the whole business comes down crashing.

 

[ronaldlorenzo01]

The decision-making process involves identifying a goal, getting the relevant and necessary information, and weighing the alternatives in order to make a decision. The concept sounds simple, yet many people overlook some of the critical stages and risks that occur when making decisions. Wherever possible, it’s important to make the best decisions under the circumstances.

 

[Caali]

It’s not what goes into these “bad decisions” it’s what’s not there. The majority of new business owners have never run their own companies before they launched their first one. And, although they may be expert technicians and understand the ins and outs of doing the work they have no experience putting the the whole puzzle together.

 

[Shahzad Ahmad]

To be honest, I cannot understand your message that how do you want to know really, but if we talk to business decision that would be very important. You should make decision according to experience or on the base of total information and your own ability as well as financial situation.

 

[iamgroot]

My No1 advise would be

Learn to stop eating up people's opinions.

People say things based on how they feel.

No matter how smart you think the person is, he's still a biased human.

Filter appropriately, know what works for you.
Here's what I'm saying:

Nobody is flawless.

No matter how smart someone sounds sometimes, he still makes mistakes.

So, don't be blind.

Open your eyes and learn to listen with your head (logic) and not your heart (emotions)

For some, this works sometimes. But i think most of the time it doesn't. I'm sorry if I don't agree with your statement. For me, opinions and suggestions that come from others are important, but I did say that everything can help for the good of those who seek advice. Just because you ask for an opinion is not what you will follow and that is what will be followed, it only serves as a guide and when you have a realization of things you have not yet decided. By that, your decision making will be stable.

 

[Ebensco]

This work is quite simple if you are interested in business making desicions .so make some partners who are well experienced and daily business dealers they will give the best options and ideas to work on.

 

[tuna89]

When making business decisions, you need to observe the situation of ongoing business activities like sales, profits and more, you can always ask your employees' opinion but note that the opinions are subject to corrections and criticism. You can as well take advice from experienced business people as well, these will enable you make necessary conclusions.

 

[Zevin]

It is not really easy to make business decisions as your decision can make or break your business. When you are making a decision you shout see what consequences can occur. You might want to make a profit, but you need to be prepared for a loss. Therefore, when you are making business decisions you will have to consult with a lot of people.

 

[Tayyabah]

My No1 advise would be

Learn to stop eating up people's opinions.

People say things based on how they feel.

No matter how smart you think the person is, he's still a biased human.

Filter appropriately, know what works for you.
Here's what I'm saying:

Nobody is flawless.

No matter how smart someone sounds sometimes, he still makes mistakes.

So, don't be blind.

Open your eyes and learn to listen with your head (logic) and not your heart (emotions)

To be very honest I am still thinking how to make an effective business decision...
The things that I know personally are, before starting a business you must have a plane, then you must have experience in that field and last but not least, a backup plane must be there to survive in emergency conditions.

Yes you r absolutely right we should first complete knowledge of what we have to start and either we have skills also to manage ourselves with our business and get big deals with good quality time so would be get profit as we desired.

 

[Taimoor Jutt]

A great article with nice advices. Yes if someone gives you suggestion it means he have experience, and he already faced this type of situation, pretending over smart will make you loser, respect others opinion about anything. If they are our seniors they might have passed through thick and thin.

 

[Judee201]

In making business decisions, you have to listen to other people advices and filter the one which is the best out of the advice, in all, you also try to trust your gut and step up to take that tough decisions