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Intuitive and Analytical Approaches to Decision Making
Decision-making lies at the foundation of every business and management opportunity. The approach to choosing what to do next can either lead to better results or put the organization and its workers at risk of failure. Thus, it is essential to look at the different approaches to decision-making and see whether they can be used separately or together. Two of the main distinct strategies are intuitive and analytical decisions. The first relies on ones experience and feelings about the situation the decision is often made without a deep exploration of the subject in the moment (Hodgkinson & Sadler-Smith, 2018). In contrast, analytical decision-making is based on breaking down the issue and approaching the situation from the research point of view. Although the two types seem completely opposed to one another, each has its strengths and drawbacks that make the combination of the two the most reliable approach to strategic management.
The first reason why each of the two approaches does not work separately is the issue of individual experience. On the one hand, intuitive decisions are often based on a professionals in-depth knowledge of the subject, which helps them make quick choices and not hesitate (Abubakar et al., 2019). However, such an approach is ineffective in new fields or for new workers who do not possess the necessary skills. Similarly, the use of the analytical decision-making style may dismiss previous experience, taking more time and resources to make a decision that could potentially be resolved quickly (Okoli & Watt, 2018). Here, one can overcome this issue by looking at both personal experience and available knowledge.
Second, as the two decisions require different resources and time frames, picking one over another in every situation may lower the effectiveness of strategic management. For instance, dismissing the value of intuitive choices in scenarios that are well-known to the professionals in the business means that each small decision must be reviewed thoroughly every time. The efficiency of such management is likely to be low, as too much time is devoted to making small or previously reviewed choices (Okoli & Watt, 2018). Nevertheless, overreliance on intuition may lead to stagnation, where each problem is tackled without innovation based on deeper analysis. Depending on the issues novelty and complexity, using both strategies can greatly increase business efficiency.
The final reason why a one-sided approach is ineffective is linked to the different types of decisions that managers must make. In some cases, the creativity of a solution is key to the projects success (Hodgkinson & Sadler-Smith, 2018). Here, analytical decision-making may not deliver the same results as a creative professionals intuition. At the same time, such activities as company assessment require an analytical strategy to produce a standardized and well-structured system. Thus, both options offer management a way of solving a problem, and they should be used together to tackle complex issues.
Overall, strategic management requires one to show a degree of creativity and intuition while also using analysis as the basis for planning and evaluation. Combining the two styles or choosing one over the other for certain situations creates flexibility in decision-making. One can utilize the strength of each approach while reducing the effect of their potential drawbacks. The need to account for experience and current knowledge, the issue of efficiency, and the complex nature of decision-making are among the major reasons why such conversion is necessary for success.
References
Abubakar, A. M., Elrehail, H., Alatailat, M. A., & Elçi, A. (2019). Knowledge management, decision-making style and organizational performance. Journal of Innovation & Knowledge, 4(2), 104-114. Web.
Hodgkinson, G. P., & Sadler-Smith, E. (2018). The dynamics of intuition and analysis in managerial and organizational decision making. Academy of Management Perspectives, 32(4), 473-492. Web.
Okoli, J., & Watt, J. (2018). Crisis decision-making: The overlap between intuitive and analytical strategies. Management Decision, 56(5), 1122-1134. Web.
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