Marketing and Business Intelligence

How to make good business decisions

Picture of Jesús García Gil
Jesus Garcia Gil
Decision making in a company is the key to solving problems in your business. Improve decision making at work.
make-decisions-in-a-company
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Decision making in a company to take it on the right track is not an easy task. There are endless factors that can intervene when carrying out certain activities of the utmost importance for all those who make up the work group. 

Therefore, it is necessary to have good planning and organization in order to be able to build the best possible future for our company. Do not miss this opportunity and stay with us to discover everything you need to improve decision making in a business and aim for the highest. 

Methods for decision making in a company

We can find that the process decision making in a company can be divided into 2 methods well known in business circles. So let's know what they are:

1-Rational or structured decisions

These types of decisions are made based on some specific process or criteria. Normally these are of a routine nature and it could be said that they are predictable, since they are directly related to fulfilling activities that the company did before. Because the necessary experience is already available to deal with this situation, in these cases it is possible to seek reduce investment of time and labor.

decision-making-in-a-company

2-Intuitive or unstructured decisions

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Phases of the decision-making process

Depending on who you ask, you may find various ways to how to make good business decisions. Undoubtedly, there are many types of processes that can be followed when make decisions in your business, but without a doubt with the steps that you will know next, you will be able to see the whole panorama and achieve meet desired goals.

First phase: Identify and analyze the problem

It is not possible to think of a solution without knowing how to recognize a problem in your business. At this point we must analyze everything from a logical and of course rational point of view, Where does a problem come from in your company?, if it is the first time it occurs and if you have what is necessary to solve it. Using a priority scale at this point can It greatly facilitates our work in decision-making in a company. To have the precise data it would be very convenient to use tools such as Zoho Analytics in your company to avoid errors in the proposed strategy and lose a large sum of money. This tool collects the data of your company, work carried out, processes, objectives, sales, % of success in the proposed strategies, etc.

Second phase: Evaluate and choose the alternatives

At this point you have to be able to collect and expose all the alternatives that can positively influence the solution of the problem in your business. It is necessary to compare them with each other, to know which are the most useful for our objective.

By using Zoho Analytics You will have this information at your fingertips 100% accurate without the need for costly and inaccurate reports.

 After the person responsible for making the decision has evaluated which are the most viable alternatives, it only remains to apply the decision.

Third phase: Apply the decision

The most important thing when applying a decision is to make sure that everyone agrees with it. After applying it, it is necessary to know what the results are and if the problem has been solved in the way that was desired.

Factors influencing decision making

  • Information: without a doubt, it is necessary to have the greatest amount of information at hand. All this to know what we seek to solve or improve.
 
  • Knowledge: it is important that the person who will make the decision has experience solving problems in the past and better still on the one that needs to be solved.
 
  • Experience: if the person who will make the decision has already done it before, they will have a better picture of the situation achieving better results. If you don't have previous experience, possibly the best thing to do is to experiment.
 
  • Judgment: Judgment is one of the most determining factors when making a decision. A good judgment will allow you to take advantage of everything that we have mentioned before in the best possible way.
make-decisions-in-a-business
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How to make good business decisions
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How to make good business decisions
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Decision making in a company is the key to solving problems in your business. Improve decision making at work.
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