Decision Making Strategies and Impacts

The video tutorial covers the decision-making process, emphasizing its importance in management and business. It outlines five types of decision making: based on values, intuitive, rational, specialized, and collaborative. The tutorial highlights the significance of good decision making for achieving business success and offers five practical tips to enhance decision-making skills. The video concludes with a recap and additional resources for further learning.

What is one of the main responsibilities of managers according to the video?

• Hiring new employees

• Managing finances

• Decision making

• Organizing team events

How does decision making affect a company?

• It has no impact

• It only affects the employees

• It only affects the managers

• It can create opportunities or risks

Which type of decision making relies on personal values and beliefs?

• Intuitive

• Rational

• Based on values

• Collaborative

What is a characteristic of intuitive decision making?

• It is based on data analysis

• It is usually less risky

• It involves group consensus

• It relies on instinct

What is a benefit of collaborative decision making?

• It relies on a single person's opinion

• It is faster than other methods

• It is based on intuition

• It involves multiple perspectives

Why is good decision making important for a company?

• It ensures high employee turnover

• It leads to disorganized processes

• It helps achieve objectives efficiently

• It reduces the need for planning

What can poor decision making lead to?

• Improved performance

• Better team morale

• Headaches and losses

• Increased profits

What is the first step in making the best decision according to the video?

• Identify the problem

• Track the results

• Analyze alternatives

• Make your decision

What should be done after collecting data in the decision-making process?

• Make your decision

• Identify the problem

• Track the results

• Analyze the alternatives

Why is it important to track the results of a decision?

• To ensure the decision was correct

• To ignore any negative outcomes

• To reduce the workload

• To avoid making future decisions