Decision Making in Difficult Times

As things get more difficult in the external environment, people are faced with more choices and decision points. One set of people try to delay decisions with the hope that things would get better and the decision point itself could become redundant. Most people fall under this category – consciously or unconsciously.

A few others tend to get disturbed and restless because of the turbulence and its related decision points. This group gets emotional and becomes too involved with the problems around the decision. Though many in this group could have objectively identified opportunities and potential upside in these trying moments, they succumb to their emotional bearings and environmental influencers. Most in this group tend to make safe bets and go back to doing what provides them with greatest security.

A relatively small set utilize the turbulence or shake-outs by analyzing the decision points objectively. These individuals patiently assess the changes in the environment against their inherent strengths, and try to find ways to improve and capitalize on upcoming opportunities. They adapt and prepare themselves to handle the interim period; so that they can sustain so as to tap into opportunities that may open up after the shake out. At the other end in this spectrum there are those who only prepare themselves for cashing once the turbulence settles. And many a times they are not there to see the calm.

In today’s circumstance one can see individuals and companies falling into any of the above three categories of response. Each of these responses has its own strengths and pitfalls. It is important for one to understand the response and associated fall-outs. For which is the right one – only time will tell!

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