Three Frameworks Based upon the three-part division of traditional normative ethical theories discussed above, it makes sense to suggest three broad frameworks to guide ethical decision making: The Consequentialist Framework; The Duty Framework; and the Virtue Framework.

A customer service representative taking responsibility for failing to follow through with a service action is making an ethical decision. A manager taking responsibility for his team not making a deadline because of his lack of oversight is ethical behavior.

The first step to the decision making framework is to identify the issue in order to have a clear understanding of the root problem. To recognize an ethical issue you may need to ask the following questions, A.27

Ethical decisions generate and sustain trust; demonstrate respect, responsibility, fairness and caring; and are consistent with good citizenship. These behaviors provide a foundation for making better decisions by setting the ground rules for our behavior.4

Answer: The second step in the decision-making process is the first one: gathering information.8

Overview of the 6-Step Process

1. Step 1: Define Desired Outcomes and Actions.
2. Step 2: Endorse the Process.
3. Step 3: Establish Criteria.
4. Step 4: Develop Alternatives or Options.
5. Step 5: Evaluate, Select, and Refine Alternative or Option.
6. Step 6: Finalize Documentation and Evaluate the Process.

The following are the different types of decisions that are usually taken by managers in the organization:

• Programmed and Non-Programmed Decisions: ADVERTISEMENTS:
• Operational and Strategic Decisions:
• Organizational and Personal Decisions:
• Individual and Group Decisions:

Features or Characteristics of Decision-Making:

• Rational Thinking: ADVERTISEMENTS:
• Process: It is the process followed by deliberations and reasoning.
• Selective: It is selective, i.e. it is the choice of the best course among alternatives.
• Purposive:
• Positive:
• Commitment:
• Evaluation:

Decision making is the process of making choices by identifying a decision, gathering information, and assessing alternative resolutions. Using a step-by-step decision-making process can help you make more deliberate, thoughtful decisions by organizing relevant information and defining alternatives.23

Definition: Decision Making is the cognitive process of selecting a course of action, out of a set of available alternatives, so as to achieve the goals of the organization. It is an indispensable part of the management, as decisions are made at each level by the management executives.

Decision-making is perhaps the most important component of a manager’s activities. It plays the most important role in the planning process. When the managers plan, they decide on many matters as what goals their organisation will pursue, what resources they will use, and who will perform each required task.

One of the most important aspects of life is ‘decision making’, and for every choices involves making the right decision. Every choice that we had decided on doing can impact our lives either in a good or in a bad way, it helps shapes us to identify who we are to ourselves and to other people.

The most important thing to remember when faced with an important decision is to determine what type of impact the decision will have on the people involved. When making a decision, determine how your choice will impact your life and as well as the lives of others, and respond accordingly.15

Advantages of Decision Making

• Gives more information.
• Increase people’s participation.
• Provide more alternatives.
• Improves the degree of acceptance and commitment.
• Improves the quality of decisions.
• Helps in strengthening the organisation.
• Costly.
• Time-consuming.

Examples of decision-making skills

• Problem-solving.
• Leadership.
• Reasoning.
• Intuition.
• Teamwork.
• Emotional Intelligence.
• Creativity.
• Time management.

There are several important factors that influence decision making. Significant factors include past experiences, a variety of cognitive biases, an escalation of commitment and sunk outcomes, individual differences, including age and socioeconomic status, and a belief in personal relevance.

Quick decision-making saves time and money Whether you think your business is good or bad at making decisions, the truth is most companies can improve the effectiveness of their decision-making. Rather, good decision-making practices tend to yield decisions that are both high quality and fast.”15

9 Tips to Make Smarter Decisions Faster

1. Stick to your mission.
2. Set a time limit.
3. Avoid decision fatigue.
4. Control what you can control.
5. Understand pattern recognition.
6. Decide whether the decision can be reversed.
7. Make a daily decision quota.
8. Use the common-sense stress test.

Decision fatigue is when the mind becomes fatigued after a sustained period of decision making. Making decisions is a cognitively taxing process, and decision making ability declines after long sequences of decisions.

Smart goals should be specific, measurable, achievable, results-focused and time-bound. Having sound goals will help improve decision-making processes, making your decisions come easier and faster. Unfortunately, we don’t always have the luxury of planning ahead in life.18

• 5 Decision Making Skills for Successful Leaders.
• Identify critical factors which will affect the outcome of a decision.
• Evaluate options accurately and establish priorities.
• Anticipate outcomes and see logical consequences.
• Navigate risk and uncertainty.
• Reason well in contexts requiring quantitative analysis.

7 Unusual Ways to Improve Your Decision-Making Skills

1. Get some arts and culture in your life.
2. Develop your programming or language skills.
3. Hang out with people of all ages.
4. Exercise.
5. Get experimental with your cooking.
6. Get social online.
7. Write down the pros and cons.

In business, you have to move swiftly, before someone else steals your idea or customers. In one Stanford study, faster decision-making was linked to better performance, while slow decision-making was linked to poor performance. In one case, a firm’s delay in coming to a decision caused it to eventually go bankrupt.22