Quotes & Sayings About Decision Making In Business

While the executive should give every possible value to the information of the specialist, no executive should abdicate thinking on any subject because of the expert. The expert's information or opinion should not be allowed automatically to become a decision. On the other hand, full recognition should be given to the part the expert plays in decision making. — Mary Parker Follett

The situation - having to choose between imposing higher retail prices and reducing investments and military spending - created a dilemma for the government: deciding between conflict with the public or with the Party economic elite. But not making a decision heightened the risk that, as the crisis developed, there would be conflict with both the public and the elite.18 The new generation of leaders clearly did not understand this. The traditional management of the economy was oriented on natural, rather than abstract, parameters. The development of cattle breeding was discussed at the highest level more frequently than the country's budget. Industry and business leaders regarded finances as necessary but dreary bookkeeping.19 In addition, information on the real state of the budget, hard currency reserves, foreign debt, and balance of payments was available only to an extremely narrow circle of people, many of whom understood nothing about it anyway. — Yegor Gaidar

The toy business began to drive the [Lucasfilm] empire. It's a shame. They make three times as much on toys as they do on films. It's natural to make decisions that protect the toy business, but that's not the best thing for making quality films. — Gary Kurtz

I made the decision to quit show business. Give up the skintight dresses and manicured smiles. The false concern over sentimental lyrics. I would never again work to make people smile inanely and would take on the responsibility of making them think. — Maya Angelou

I've always followed politics, and I think politics is everybody's business because we're electing someone who's going to be making important decisions that will affect all of our lives. — John Legend

Informed decision-making comes from a long tradition of guessing and then blaming others for inadequate results. — Scott Adams

IT needs to be the super-glue to bridge business silos and enable holistic decision-making. — Pearl Zhu

To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework. You must supply the emotional discipline. — Warren Buffett

Business leaders must not cling to old ways of doing business, or allow inertia or complacency to prevent them from making the decisions that they will eventually be forced to make. — Patricia Hewitt

Not unnaturally, many elevators imbued with intelligence and precognition became terribly frustrated with the mindless business of going up and down, up and down, experimented briefly with the notion of going sideways, as a sort of existential protest, demanded participation in the decision-making process and finally took to squatting in basements sulking.
An impoverished hitch-hiker visiting any planets in the Sirius star system these days can pick up easy money working as a counsellor for neurotic elevators. — Douglas Adams

The [Dow-Alcoa and Alcoa-IG] negotiations [of 1929] reveal strikingly the technique of cartel diplomacy - the steady application of "pressure" and the resort alternatively to challenges and blandishments. The similarity to power politics in which trial by battle is a last resort is marked. The procedure discloses the vast gulf between big business in practice and the patterns of behavior assumed in a regime of free competition. It shows how the conference table superseded the market as the arena for decision making. — George W. Stocking

There are no perfect decisions, only excellent applications. — Todd Stocker

Very often God's will for you will be "I want you to decide," because decision making is an indispensable part of character formation. God is primarily in the character-forming business, not the circumstance-shaping business. — John Ortberg

Gradually, as Nero's excesses grew more unbridled, Seneca fell increasingly out of favour. At length he was accused, justly or unjustly, of complicity in a widespread conspiracy to murder Nero and place a new emperor - some said, Seneca himself - upon the throne. In view of his former services, he was graciously permitted to commit suicide (A.D. 65). His end was edifying. At first, on being informed of the Emperor's decision, he set about making a will. When told that there was no time allowed for such a lengthy business, he turned to his sorrowing family and said: 'Never mind, I leave you what is of far more value than earthly riches, the example of a virtuous life' - or — Anonymous

If we want people on the front lines of companies to be responsible for making good business decisions, they must have the same information that managers use to make good business decisions. — Ken Blanchard

I'm not talking about being against development. I'm talking about the politics of development. I'm talking about more development, not less. More democracy, not less. More modernization, not less. How do you break down this completely centralized, undemocratic process of decision-making? How do you make sure that it's decentralized and that people have power over their lives and their natural resources? I don't even believe in the modern business-like notion of "efficiency". It dovetails with totalitarianism, fascism. Peopl say, "If it's decentralized it will be inefficient." I think that's fine. Let it be inefficient. — Arundhati Roy

Growing a business requires that we look at ourselves and change the way we make decisions. — David J. Greer

We are a company that lives and breathes a philosophy that's centered on not only making sound business decisions but also personally and professionally finding ways to contribute to the well being of society. We are also a company that understands community. — Magic Johnson

Many people fail in their career, business and relationship, and others get stuck because of their inability to make quality decisions. — Nkem Paul

How will history judge us? Will our tales be sources of inspiration, or wells of caution? — Yunus D. Saleh

Wealth creation is not a business suited to those whose skill set
consists of voting "present." It requires decision making, risk taking,
hard information, discipline, insight, and intelligence. — Ziad K. Abdelnour

When you withhold trust within intercultural business contexts, how are you making the decision to not trust someone? — Sherwood Fleming

As I've progressed in my career, I've come to appreciate - and really value - the other attributes that define a company's success beyond the P&L: great leadership, long-term financial strength, ethical business practices, evolving business strategies, sound governance, powerful brands, values-based decision-making. — Ursula Burns

I was always fascinated by the decision-making process and the managerial process and just business in general. — Ronald Perelman

If we can find short-term incentives that are consistent with our long-term objectives, it is much easier to make the right decisions in the moment. — Tom Rath

Organisations with decision-making speed and imagination will thrive as nobody can claim to have a monopoly over creativity. — N. R. Narayana Murthy

Although all the major industrial countries and a multitude of business units participate in the world trade in chemicals, the forces of free competition do not rule the world markets. The techniques of business diplomacy frequently supplement and in some instances have supplanted independent decision making by separate producers in response to free market forces. The geographic and industrial areas within which particular companies will operate, the scale of their output, the prices of their products, the use or nonuse of their technology, have increasingly become objects of negotiation, subjects of national and international agreement. More and more the conference table has been taking the place of the market as a regulator if the chemical industries. — George W. Stocking

Whenever you see a successful business, someone once made a courageous decision. — Peter F. Drucker

Business today is about making decisions amid ambiguity. — Geraldine Laybourne

As a company gets big, the information that informs decision-making gets massive. Depending upon the prism through which you view the business, your perspective will vary. If two people are in charge, this variance will cause conflict and delay. — Ben Horowitz

Good decision making is the result of years of experience making and learning from one's choices - good and bad. — Michael J. Marx

I think there's a very clear recognition and understanding that the progress of women in business at the very highest decision-making levels is too slow. This is a discussion that's going on in every country around the world, actually. — Quentin Bryce

The term "escalation of commitment" was first coined by Barry Staw, a business professor at the University of California, Berkeley.4 It's defined as a decision-making pattern in which a person - for our purposes, a business leader - continues to support or believe in a strategy even after it has continually failed. Escalation of commitment is often described as the inability to let go, or as an obsessive need to try to succeed even when failure is inevitable. — Laurence G. Weinzimmer

Decision making and problem solving are not the same. To solve a problem, one needs to find a solution. To make a decision, one needs to make a choice. — Michael J. Marx

Good decision-making is like playing chess and you must avoid making hasty decisions without thinking of how that particular decision will impact on different aspects of your work and organization. The worst kind of decision-making is to decide to delay a difficult decision until later or to pass it to someone else to have to make. You will never excel and be valued by your colleagues if you get into these habits of procrastination and passing responsibility to others. — Nigel Cumberland

This is how life works. Deciding whom to love is not an alien form of decision-making, a romantic interlude in the midst of normal life. Instead, decisions about whom to love are more intense versions of the sorts of decisions we make throughout the course of our existence, from what kind of gelato to order to what career to pursue. Living is an inherently emotional business. — David Brooks

But in the end self-confidence mostly comes from a gut-level realization that nobody has ever died from making a wrong business decision, or taking inappropriate action, or being overruled. And everyone in your operation should be made to understand this. — Andrew S. Grove

Decision-making is a solid business capability to improve business responsiveness, agility, and competency. — Pearl Zhu

Every decision by every decision-maker needs to be informed by an understanding of how technology changes business processes. — Pearl Zhu

Cold passion' is calm, considered and long lasting. Both the brain and the heart are working together. Emotions have been taken
out of decision-making. And decisions are given time, looked at from all angles. Cold passion is much more effective at getting results. — David Hieatt

Business owners are like joggers. If you stop a jogger, he goes on running on the spot. If you drag an owner away from his business, he goes on running on the spot, pawing the ground, talking business. He never stops hurtling onwards, making decisions and executing them. — Jean Baudrillard

The club is not a business. It's a populist democracy. — Simon Kuper

Decision-making compresses trial-and-error learning experiences into an instantaneous mental evaluation about what the consequence of a particular action will be for a given situation. It requires the on-line integration of information from diverse sources: perceptual information about the stimulus and situation, relevant facts and experiences stored in memory, feedback from emotional systems and the physiological consequences of emotional arousal, expectations about the consequences of different courses of action, and the like. This sort of integrative processing, as we've seen is the business of working memory circuits in the prefrontal cortex. In chapters 7 and 8 , we discussed the role of the prefrontal cortex in working memory and considered the contribution of the lateral and medial prefrontal cortex. Here, we will focus on two of the subareas of the medial prefrontal cortex in light of their relation to the motive circuits outlined above. — Joseph E. Ledoux

A man's judgment is best when he can forget himself and any reputation he may have acquired and can concentrate wholly on making the right decisions. — Raymond A. Spruance

Thinking, Fast and Slow, mentioned above, and Dan Ariely's Predictably Irrational. One of the handful of books that provides advice on making decisions better is Nudge by Richard Thaler and Cass Sunstein, which was written for "choice architects" in business and government who construct decision systems such as retirement plans or organ-donation policies. It has been used to improve government policies in the United States, Great Britain, and other countries. — Chip Heath

Actors have given up their clout. Now decision making is in the hands of lighting men, designers, bankers, special-effects people. We need to cut that out and just go with the most able trained actors in the business. — Peter O'Toole

Always seek input from others to aide you in reaching the best possible decision for your business/start-up. This is due to entrepreneurship mostly being about taking calculated risks, and you will always create better strategies if more facts and information go into the decision-making process. — Luigi Wewege