Published Online:June 2024
Product Name:The IUP Journal of Soft Skills
Product Type:Article
Product Code:IJSS030624
Author Name:Revathi Turaga
Availability:YES
Subject/Domain:Management
Download Format:PDF
Pages:6
As human beings, we may pride ourselves in being rational and logical in decision-making, but most often we are reactive and emotional in our decision-making process. The result is, we tend to have cognitive bias in our decision-making. In order to avoid this, most employees in organizations either choose not to take decisions and rather wait for a decision to be made for them, or choose to overanalyze a situation wanting to make the best decision, thus leading to analysis paralysis. Instead, recognizing that there are reversible and irreversible decisions and that most decisions are reversible, and rather than to wait, plan, decide, and act, it is better to act, observe, plan, and decide—can help employees make decisions faster as well as help organizations benefit from the iterative process. The paper aims to present the popular framework of observation, orientation, decision, and action (OODA) loop and how it can enhance the decision-making process and impact for an individual or an organization.
Jeff Bezos, Founder and Executive Chairman of Amazon, advises to make most decisions once about 70% of information is available for the same, without waiting for the rest (Brad, 2013). He maintains that making no decision is after all a decision in itself and that it is better to make a wrong decision, to learn from it, and course-correct it as one moves forward.