Business developing-Decision making

Life can act funny. There is always this problem of uncertainty meaning some things working and somethings not working. So what do we do to make good decisions and see that it has a positive effect and continues to be successful in longer terms.

Marketing research has a whole lot of work involved in decision making. The first principle that a marketing researcher should know is observation. As discussed in my earlier hub marketing is successful when we give customers what they don't have and give what others cant give. Changing the "cant" to "can" can be done only by proper research through observation.

So what are the tools we have. All this can be done with the help of Management information system, MIS. With developing technology especially information technology things have eased out. MIS reports giving detail study of the market comes handy.

Now the problem with MIS comes when too much of technology can harm the process of decision making. When systems are developed the machine part and the automation can be at times risky and unreliable. Soft wares which were used before can give redundant information and likely to lead to bad decisions. The decision making manager has to ensure that the system used is up to date. Regular updates not taken might end with an old reliable system to be converted into a bizarre setup. I therefore make it a point that besides using MIS the human factor has to be given more consideration.

We as humans observe what the machine cannot. Of course we do rely more on a computer system to make calculations for example some things thanks to god are still under the control of human beings. In case when even a sound MIS cannot make decisions managers with proper experience and a well versed staff can contribute better decisions

Making visits to places, reading the newspapers is what all the common men do and business developing can be enhanced through such small practices. Regular meetings discussing opinions of people from all genre asking what they observed today or what was the research or observation each one has made. A little can change a lot.

Implementing ideas should be done after a firm decision has been made. As mentioned earlier good observation which means observing relevant people, actions and situations. We do observe commercials don't we ? and frequently try to interpret how the ad was relevant to the product and how we can learn make one since we are involved in an activity that caters to our needs of livelihood. A successful business mustn't forget this from the Oxford dictionary-"Observation means accurate watching and noting of phenomena as they occur in nature with regard to cause and effect or mutual relation"

Being aware of the facts and not rumors is also important. From selecting products of day to day needs to deciding strategies in a business empire decision making should be based on facts and concentrating on what is happening than what has happened or what is going to happen.

Studying past behavior also becomes a tool for decision making as an indirect observation. This is possible with the help of past records, films, photographs.

The question remains how much uncertainty we can expect when we think we have made the most impeccable decision!