Question

• Should there be a difference in your decision making when there's a personal variable involved?

Answer 1

Decision making is a complex process comprising of various factors that interact with each other to get us to a final decision. Each of these factors has its own implications and impact on decision-making ability. However, when are talking in terms of decision making as business leaders, we need to be as objective as possible and should overcome any type of biases especially personal traits. However, when you are taking a call or decision and there is a personal variable involved.

Personal variable or factors like age, past experiences, socioeconomic status, personal bias towards certain aspects are bound to affect our decision-making ability and may result in a different decision had these not been there. Ideally, a correct approach to decision making in business requires it to be very objective but these factors are bound to impact. However, if you look at decision making as a general concept, if there is a personal variable involved then we are bound to think differently keeping in consideration our personal variables. Hence we may expect a slight difference