Should I take this job? Should I move? These are questions that we all face and sometimes it is hard to make decisions. Decision styles reflect the typical manner by which individuals make decisions.
Research showsthat people have different kinds of styles. Decision-making is a problem-solving activity whereby we try to find a solution that is satisfactory.
The decisions that we make can be based on what we know, referred to as tacit or explicit knowledge, and our beliefs. As humans, we strive to make the right decisions particularly for things that matter. Unforunately, according to Brian Tracy, author of Get Smart!: How to Think and Act Like the Most Successful and Highest-Paid People in Every Field, many of us get stuck in easy decision-making and don’t think like professionals. Tracy provides several ways in which to make better decisions.
First, it is important to adopt a long-term, versus a short-term, perspective. People who take a long-term perspective tend to be future-oriented rather than focus on the short-term. The findings are derived from a book by Dr. Edward Banfield called ‘The Unheavenly City’. Banfield was interested in why some people seem stuck in a rut and never escape their working-class origins whereas others become very successful and can move from lower to upper class circles. He discovered that what differentiated these two groups was their time-perspective. Those who were unsuccessful were trapped in a rut like an addict who just craves the next drink, whereas those who were successful always thought long-term.
The second way in which to promote successful decision-making is to engage in slow thinking. Many of us tend to make decisions in the heat of the moment, yet successful people take their time in making decisions. Tracy recommends to “Stop. Pause. Think.” Obviously shopping for shampoo requires a quick and easy decision but purchasing a new home requires deliberate thought because the decision has long-term consequences.
Finally, successful people also engage in informed, versus uninformed thinking. When making decisions, it is important to show due diligence. A successful entrepreneur will conduct research and gather all the facts before making an investment decision. This is similar to a research scientist who conducts a literature review and gathers evidence to support an experimental hypothesis before testing the proposition in the laboratory. Charles Darwin was a very successful thinker because he gathered a lot of evidence and many times he tested his hypotheses through trying to prove himself wrong! This is similar to J. Paul Getty, who at one time was the richest man in the world; Getty always searched for the flaw in the product and asked, “What is the worst possible thing that could happen to use in this business opportunity?”
When making tough decisions, there are three simple rules that can be applied. In an article in Harvard Business Review, Peter Bregman describes the rules to help make tough decisions. First, use habits to reduce routine decision fatigue, much as if you always eat cereal for breakfast, put those habits into play when making routine decisions. But how about difficult decisions that aren’t routine? Bregman suggests using the if/then thinking rule to routinize unpredictable choices. For example, if you establish the rule that if a person interrupts you more than twice, then you will say something. It is important to use a timer, if a decision has to be made. If a decision needs to be made in 15 minutes, then use a timer so that the task gets done.