Reference no: EM133184529

Decision Making

Organizational decisions like new products or global expansion have historically been made after a lengthy analysis of available information and risk. Today, though, organizations of every kind operate in an environment where decisions need to be made quickly, even as the amount of data available on which to base them has reached unprecedented levels. Business people at all levels are being trained to accelerate their decision-making. Accelerated decision-making requires the ability to quickly understand the situation, identify possible options, evaluate the risk, then take action, without having all the data or time to consider every alternative.

What are some situations in your career, in your personal life, or in education where you have had to make a decision under these circumstances?

Think about your own decision style. Do you think you would easily adapt to an accelerated decision situation? Why or why not?

Some situations are more suited to an accelerated decision than others. What are some factors that could require a business to make an accelerated decision?

Thoroughly answer the 3 bolded questions in paragraph form to make a meaningful, thoughtful reply and excellent explanation.