Making Decision

           

Source : http://www.naijapreneur.com/wp-content/uploads/2014/07/decision-making-for-entrepreneurs.jpg

          

            The first group  was explained about “Making Decision”. They explained that making decision is really important for us because it can help us to do something. The dicision making process are identify the problem, gather information and list possible alternatives, consider consequences of each alternatives, select the best course of action, and evaluate the result. For example, I already finished my study in senior high school so I want to continue my study. I must prepare some university that must be accordance with university that I want.  After that I must choose the best university and take the consequences. They explained the factors that can influence a decision including values, peers, habits, feelings (love, anger, frustation, ambivalance, rejection), family, risks and consequences, and age. They also explained the common decision making strategies, include spontaneity; compliance; procrastination; agognizing; intention; desire; avoidance; security; and synthesis. 

            Not only that, they explained about the economic influences on decision making. They said that the economic factors may influence personal and financial decision, such as consumer prices, consumer spending (demand for goods and sevices), gross domestic product (GDP), housing starts, interest rates (the cost of borrowing money), money supply, stock market index, and unemployment. They said there also have the risks associated with decision making. The following are common risks related to personal and financial decision making, such as personal risks, inflation risk, interest-rate risk, income risk, liquidity risk. The opportunity costs and time value of money, include opportunity cost, personal opportunity costs, financial opportunity costs, and time value of money.

            There also have a question that was gave by the audience is if  a manager must determine the decision, but the manager have some problem or not in a good mood so what should she/ he do? One of them said that if you are a manager and at that time you was badmood so you must work professionally so you must forget the problem and choose to make decision of your work. Don’tintervene  personal affairs or problem with your job.