Effective Decision Making, How to Take Right Decisions in Business, Importance of Decision Making: Ken Research


We Provide Consulting Services on Right Decision Making & Business Development: Ken Research

Ken research is a market research company that provides detailed insights into the competitors, latest market trends, understand Customer Pain Points / Decision Making & preferences, economic shifts, consumer buying patterns, and demographics and also allows you to bring the mandatory modification to Grow Your Business. Customer pain points are part of business that creates the opportunities to innovate, expand and grow. These pain points are characterized into four categories: productivity pain points, financial pain points, support pain points and process pain points. By viewing these customer pain points, you can start thinking about how to position your business or product as a solution to your scenario problems. Your strategy should be toward the listening carefully to your customer’s requirements so you can work efficiently to solve them. You should be identifying the problems that cause your customers to seek out your company and helps to articulate your value in a way that makes them feel as though you genuinely care. It also allows you to passably solve their problems. To determine the paint points, you should be following these steps:

  • Take time to talk with your customers
  • Perform qualitative market research
  • Always collect & review feedback
  • Listen for customer pain points
  • Leverage online resources

Effective Decision Making is a process of making the alternatives by identifying decision, gathering information, and evaluating the alternative resolutions. Some useful points on effective decision making are analyze the situation, discuss your decision options with other stakeholders, conduct cost-benefit analysis, estimate the risk-reward ratio, think if your decision is right and make the final decision. Some examples of the benefit of making good decisions include improve the productivity, save time & resources, prevent mistakes & risks and cultivate & maintain the respect of others in the workplace.

The Importance Of Decision Making in the organization includes helpful in determination of objectives & achieving them, execution of managerial functions, technical changes & complications, measurement of managers success, emphasis on professionalizing the management, to offset changes & uncertainty, determination of business policies, less risk, solving the problems, success of overall institution, maximum & best use of available resources and selection & continuous operation of business etc. The concept is very straightforward, as many inhabitants oversee some of the critical stages & threats that occur while taking the decisions. Wherever possible, it is vital to make the best decisions under the different situations. The decision making process occurs at each level of a business, proceeding in bottom to the top fashion in a company from an ordinary decisions made every day by low level employees to far-reaching the administrative decisions that may require years of deliberation, knowledge and skills. Such decision making can be divided along the dimension of programmed vs. non-programmed by using the step-by-step decision making process that can help in making more deliberate & thoughtful decisions by organizing suitable information and well defined alternatives. These approaches augment the chances of choosing the most satisfying option for the organization.

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Effective Decision Making

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Ankur Gupta, Head Marketing & Communications




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