Researching A Business Decision Essay

514 words - 2 pages

The benefits of researching a business decision rather that making an intuitive or "gut"decision is the amount of critical information gained to assist in the decision process. Itis important to have a broad spectrum of information regarding all of the variables in anygiven situation. In order to make informed rational decisions one should be aware of thepros, the cons, the cost, and the consequence before jumping into a committed contractor decision. Researching also helps the decision maker see history or previousperformance of the organization or topic that he or she is researching. Viewing thehistory of a situation can sometimes help to predict the future or future needs.Business decisions, much like business relationships, are different from those in ourpersonal lives. In our personal lives, we rely heavily on instincts and emotions, butbusiness relationships and decisions must remove those types of natural reactions.Business is something that is conducted with people that you do not necessarily choose,and the decisions that are made in that environment must be made with an educatedfoundation on the subject. Reactionary decision making is a dangerous approach,because if wrong, often times something is lost, be it a customer, or a businessrelationship. Business research ensures that the decision maker has taken theappropriate steps to investigate the subject matter, and in turn make a decision based onfacts, and hopefully with that information, the correct decision is made.By researching, you are gaining insight and knowledge. You are educating yourself withthe pros and the cons and therefore, taking the "emotional" side out of making adecision. You can make a decision...

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