Improving Decision Making : An Overall Positive Assessment And The Forces That Affect Them

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Results are a byproduct of action and the forces that affect them. These collections of choices can lead to an overall positive assessment often described as successful, efficient, wise, strategic, and lucky. A collection of poor results will often be met with a slew of equally negative commentary including misguided, wasteful, idiotic, terrible, or unlucky. However the situational opportunities and the information present at the time of our choices was exactly the same in both instances. Improving decision-making has been analyzed for centuries and continues to be a mystery in many ways. However two factors have been identified as direct elements of improvement: experience and quality data. Even if we have not had a similar…show more content…
All of this information is gathered to better inform their judgment and ultimate decision. Although personal, this is a prototype business decision. Companies have to use the same process constantly to determine the best allocation of their resources. They gather as much intelligence as possible and expect a good return on their investment. Misallocation of resources or improperly estimated costs can have disastrous effects on a company’s bottom line. In many ways this is why the brain’s frontal lobe controls what are referred to as executive functions. Much like the skillset necessary for any CEO, this is the brain’s center for cognitive processes including memory, reasoning, problem solving and execution. The brain is designed to seek out choices in an economical way using the best allocation of resources. It has evolved to “capture, store, and process input and to make choices in the most economical way (Horstman, 2009, p. 65). MIS can play a huge role in efficiently supporting the same model, of decision–making support. Many organizations opt for the implementation of an Enterprise Resource Planning (ERP) system to “collect, store, manage, and interpret data from many business activities” (Wang, 2014, p. 2). Enterprise resource planning systems are an integrated network of software applications that can reveal information to various departments throughout an
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