All 7 entries tagged Rdm
April 22, 2012
Another useful elements were the tools (e.g. SMART, SWOT, etc). I learned from it as I did not know all of them before. Alternatively, this can be explained by my studies, since in finance, numbers and figures basically give you the right answer and no tools are required to make decisions. This demonstrates that decisions have to be made according to their context. Finally, thanks to the module, I developed my ability to analyze situations and better structure my thoughts. Since I want to work as a consultant. As a next step, I need to develop my critical skills to come up with more sensible conclusions
April 14, 2012
Then, having applied the tools though the exercise, I have learned the efficiency of a tool depends on its context and on other decisions taken to apply the tool itself. I have improved my knowledge thanks to the methods that I did not know before. This makes me feel that I will be able to use it any time and start applying them for my project. This knowledge is important since it helps to get a better view of the situation and may lead to a different decision, based on a more structured and objective approach. However, I do understand the biases but the tools remain really subjective for me and it might be hard to avoid it.
Having done this module, I know think differently and have another approach when taking decisions. Additionally, I have learned many biases that I probably knew but never considered when making a decision. Furthermore, I realized that decisions require as much information as possible in order to get a very large picture of the situation or context and act accordingly. I therefore have improved my understanding of a decision-making process and my ability to take decisions. However, I find it really hard to avoid biases and need to further pay attention to them. This knowledge will be essential in my personal as well as professional life because we do make decision every day that have a more or less important impact. I will now need to practise this philosophy with my every-day-decisions to feel more comfortable with it.
April 12, 2012
The most important idea was the number of biases that do exist. Previously, I did not notice how subjective could be a decision making process. This is probably due to the fact that I think I look out-of-the-box but I must be biased and actually does not. It reveals that information has to be better analysed and obvious progress can be made.
Another significant experience was the exercise. Initially, I thought the methods were all the same and some not really useful. This might be due to the first explanation of the biases that tend to say that decisions are always biased
Making ROBUST decisions is not complicated as long as we know what to use to reach that goal.
Consequently, some knowledge (e.g. robust decision making tools) can make a huge difference between a person who makes decisions randomly, and the one who tries to reduce biases and use appropriate tools.
Small things aren't the key factor to excellence then ? Do we acheive "business excellence" thanks to small but extremely important knowledge, that, one assimilated, deliver excellence ?
Obviously, having done other modules, I understand knowledge is one thing, its application another. But I believe knowing the techniques and tools as well as what can realistically be achieve is essential to be on the right track.
April 10, 2012
Application of decision-making tools within an organization
Doing this PMA, I noticed the importance of the techniques in an organization to make proper decisions. I was quite amazed to see proper website based on the decision making process such as Mind Tools. A bunch of tools can be used to take a specific
The complicated tools appear to me more sensible and probably more realistic than simple ones. That might not be objectively true. However, complicated tools remain harder to apply.
Our whole life is a decision-making process
However, we find a few types of people:
- the ones who live with the flow without making any proper decisions, the kind "let's see what happens"
- the ones who live by making choices based on a simple decision-making process
- the ones who live wondering every single step what they should do
The other day, I met someone who told me "why do u already think about what is going to happen in September after your master ? Relax... you've got plenty of time heard of you - Look at me, I never plan anything in advance"
I that specific moment, I thought : this is what makes the difference between "ambitious people" and the kind "let's see what is going to happen" style.
From a general standpoint, people who do not make any decision and just wait passively to see what is going to happen can hardly go really far in their life, can't they ?
I realized that too many people tend to complain about their life, finding all kind of excuses ... But at some point, we need to be realistic, the "making decision process" has be done and not undergone.