Introduction

Decisions, no matter how small or big, are considered to be the building blocks of one’s life. I began to ponderon my own decisions making process and in particular how intuition, observation and deduction play significantly important roles in the process.

Often, people state that they find it hard to take decisions, there are times when everyone has to make decisions, ranging from trivial problems to life changing decisions. Some people are used to makingdecisionsby endlessly searching for more ideas and information.

Decision-making is an act through which, one makes choices amongst alternatives whichare available to him. In day to day life, there are innumerable decisions which are taken by human beings. In business undertakings, at every step, decisions are taken and it is regarded as the most crucial and significant function of the management.

Decision-making process refers to selecting the best amongst all the available different alternatives, it is supposed to be the act of making an effective choice. Before taking any decision, the availablealternatives are evaluated on the basis of their advantages and disadvantages(Minsky, 2015).

Influencing and Making Decisions Harvard Case Solution & Analysis

Observation-deductive Method

There are many mental activities which begin with observation. I used to utilize my observation to spot the issue, observation is a broad phenomenon but often society, people and written material has defined observation as the process of information seeking.

For example, once I asked myself if I have 100 million dollars, how I would invest it. Without wasting a minute, I started searching news about the market, as well, I have evaluated the comments of the financial analysts which have provided most of the basic information or ideas. Then, the deductive process tends to be started, it is defined as the process of reasoning from one or more than one statements in order to reach a logically certain conclusion(Sternberg, 2009).

For sure, I have picked one information piece that is, where are the interest rates to increase, there are more people who would desire to invest in the market afterwards, the demand of the US dollar would most probably be increased and conversely, the exchange rate would also be increased. It is rather acautious method which is followed while making a decision. So personally, when it comes to taking important decisions regarding investment decisions or to choose a university for pursuing studies and when the time is most likely abundant, I would prefer to choose observation-deductive method.

The strength of this process is so obvious for the information, if correct and logic, so it can be stated that the conclusion drawn would be correct as well. So through this method, the uncertainty can be reduced to some extent. The issued based on the real life are tends to be not so simple, when there is an urgent situation which requires quick decision, this methods tend to fail towork accurately. Secondly, when there is inadequate information is given, the logical analysis would more likely be based on nothing. Thirdly, when one is using observation deductive method, the neutrality and truth must be givenrespect................

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