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Decisive:How to Make Better Choices in Life and Work


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1 ICFAI Business School (IBS) Hyderabad, IFHE University deemed-to-be University, U/s. 3 of UGC Act, 1956, Dontanpalli, Shankerpalli Road, Hyderabad 501203, India
     

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How we can take/make better decisions? This is the question repeatedly arising and spinning in the minds of all decision makers, be it house-hold decisions, workplace decisions or personal ones, because, Decisions are considered to be the inescapable part of everyone’s life as countless decisions of varying importance are made every day by everyone. At every stage, in one’s life, decisions regarding what to choose and what to leave are unvarying. There are instances of success and failure when it comes to taking appropriate decisions. Research has time and again proved that decisions are disrupted by a myriad of irrationalities, and idiosyncrasies thus creating either over confidence or distractions or short and long sightedness leading to regret or excitement, and/or a range of outcomes and emotions. There is a saying that wrong decisions provide us the opportunity to learn something new but the learning is sometimes too costly and irrevocable. Mere knowledge of process of decision making vis-à-vis its biases are proved to be insufficient to make decisions; the question that continues to linger is “how we can decide better”?
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  • Decisive:How to Make Better Choices in Life and Work

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Authors

Prageetha G. Raju
ICFAI Business School (IBS) Hyderabad, IFHE University deemed-to-be University, U/s. 3 of UGC Act, 1956, Dontanpalli, Shankerpalli Road, Hyderabad 501203, India
Amruta Deshpande
ICFAI Business School (IBS) Hyderabad, IFHE University deemed-to-be University, U/s. 3 of UGC Act, 1956, Dontanpalli, Shankerpalli Road, Hyderabad 501203, India

Abstract


How we can take/make better decisions? This is the question repeatedly arising and spinning in the minds of all decision makers, be it house-hold decisions, workplace decisions or personal ones, because, Decisions are considered to be the inescapable part of everyone’s life as countless decisions of varying importance are made every day by everyone. At every stage, in one’s life, decisions regarding what to choose and what to leave are unvarying. There are instances of success and failure when it comes to taking appropriate decisions. Research has time and again proved that decisions are disrupted by a myriad of irrationalities, and idiosyncrasies thus creating either over confidence or distractions or short and long sightedness leading to regret or excitement, and/or a range of outcomes and emotions. There is a saying that wrong decisions provide us the opportunity to learn something new but the learning is sometimes too costly and irrevocable. Mere knowledge of process of decision making vis-à-vis its biases are proved to be insufficient to make decisions; the question that continues to linger is “how we can decide better”?