In my view, both can be dangerous for the company. These tactics have always had advantages and disadvantages in business. Being a risk-taker is fine as long as he or she can think more than twice before making a final decision. However, they should also have other options if the first decision does not work out. Having alternatives is the best course of action.
Which do you believe to be riskier—taking too little time or too much time to make a decision?
- Thread starter Shavkat
- Start date
I am a quick decision maket because I explore issues much wider than most people within a short period. The truth is that I even anticipate issues before they come. I don't like slow decision makers. They slow down the wheels of progress.
In my opinion, making decisions with too little time is very risky, due to a lack of careful consideration and planning, there is the potential for mistakes to be made when making decisions. Therefore to make a tough decision I need at least 24 hours.
The time taken to make decisions doesn't not really matter, what matter is if the decision taken is the right one. I feel it's better when you take time before taking decision
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- #6
Accuracy is the biggest thing to consider. We need to plan and think how to deal with possible problems when having a business. It is a matter of building a good rapport in business with others.
I would say both are not desirable. A good manager should be able to make the right decision at the right time. S(he) should take different factors into account before making a decision.
In my opinion, taking a long time to make a decision is as much detrimental as taking decision quickly. When you take quick decision your decisions will be based on emotions, and when you take emotional decision, you might make mistakes
It depends in the kind of situation you find yourself , in an urgent situation a fast decision needed to be made and to do this careful consideration is required , that is not enough as consultation still needed to be done to be sure you are making the right decision,there is need to let other see for us too as we can't see it all.
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- #11
Being flexible is the key factor to make a good manager in a certain company. If he or she cannot do this, it would be a disaster for him or her and the rest of his or her subordinates.
Exactly, the most important is the results. Your goal is to achieve good results on any decision you make, so when taking a decision it does not matter how far or how slow you take them, or if you are under pressure or not, what matters most is that you make the right one.
You would actually have to find a way to balance it between the two because there are some business decision that requires you to be able to make a quick decision and there are some decision that requires you to take your time in order to come at a best decision.
It depends on persons. If you are fast like me, you can make your decisions fast. If you know you can't weigh all factors fast enough to make decisions use the calm and collected approach.
Too much time is also risky. It is not the best for emergency situations. By the time the decision is being made, the feared danger has already been aggravated.
It depends on situations in business. You can't hastily make a decision on replacing a manager. You need to give it time and think through. Some decisions also need to be made quickly though like one that concerns price changes when stock is full.
I think that it is not worth taking any risk until or unless you develop a proper risk management strategy in the first place. This is one of the most important things a businessman should know.