Decision Making Process Analysis

Managing is a necessity for everyday people and does not only apply to the corporate world. As a manager, the responsibility of making decisions falls on you and can impact both your life and the people surrounding you. These decisions should stray away from biases and ultimately uplift the company as a whole. However, there are many key components that help make a manager a successful decision maker.
Moreover, managers should be able to be free of making decisions that are ideally in the best interest of the company regardless of being worried from the reactions of both the workers and the consumers. Generally speaking, both your life, career and companies or organizations depend on a hands on approach in making a decision (Career World, 1994). There are eight steps in the decision making process which includes, one, identifying the problem, two, identifying decision criteria, three, allocating weight to the criteria, four, develop alternatives, five, analyze alternatives, six, select an alternative, seven, implement the alternative, eight, evaluate decision effectiveness(Anderson,2012). With this in mind, good manager will have multiple plans so that if one plan falters, they are able to recover, especially, if it is at the interest of the company. Ideally, managers are
responsible for planning, organizing, leading and controlling the company(Anderson,2012). With that being said, since those are the responsibilities of a successful manager, the manager should without a doubt be held responsible for decision making.
Conversely, managers also face many barriers that may affect the initial outcome they may have had in mind. Barriers including upper management, employees, and customers. With these barriers, they can also include biases, which can weaken the company as a whole.Common biases include, confirmation bias which happens when you look for information that supports your existing beliefs (Hill,n.d). Anchoring Bias, happens when you're under pressure and need a decision to be made quickly . Overconfidence Bias may occur when you have too much faith in your own knowledge and opinions forgetting that there are many sides to a problem. Additionally, gamblers fallacy can also come into play, when managers belief that past outcomes can strongly affect the outcomes of present day. However, if the numbers do not match up year to year, the outcomes are not likely to hold similarity. The most common bias that has been encountered in my opinion is fundamental attribution error, when managers have the tendency of not taking ownership of downfalls within the company and places the blame on other people (Hill,n.d).
In retrospect, there are many ways that a manager can overcome these barriers.
With regards to confirmation bias, seek out information from a range of sources both supporting and opposing. Additionally, in regards to anchoring bias, to avoid, reflection helps so that you are able to make a decision effectively and in a timely fashion.Futhermore, following these five steps can adequately help a manager avoid or overcome an issue regarding decision making . Managers must understand cultural differences, create standards for good decision making, know when it is time to call it quits, use effective processes for decisions, and build an organization that can be adaptable
(Anderson,2012).
Subsequently, the necessity for managers to effectively make decisions not based on personal opinions but on the ultimate outcome for the company applies for daily life.The responsibility as a manager is crucial for the maintenance of the company including planning, organizing, leading and controlling which also contribute to the decisions made. With that, there is also the understanding of the many issues managers may face, such as biases, however, as a strong and strategic manager, there are multiple ways to over come those as well.