Decision Making Process | How to make a decision?

We have to make many decisions in our lives. Many times it happens that the matter gets stuck between any two things. We are unable to take the right decision between two options and the matter remains stuck there.

In such a situation, the question comes

What can be the way to make the right decision?  

How to make the right decision?

What is the decision-making process?

Now, look at Shyam’s problem. His mind was not engaged in any work for many days.

When he was sitting very sad in his office, seeing his sadness, a friend of his office asked, “Shyam, what’s the matter?” You look so sad. “

Shyam replied, “What should I say, friend!” I live in a rented house and am thinking that I should buy my own house. “

His friend said, “That’s good.” What’s the problem with this? “

Shyam said, “I am not able to decide whether to stay in a rented house or get a new house for myself?”

Now here Shyam is caught between two things. He has two options. The first is that he continues to live in a rented house. And another option is to buy your own house.

Shyam is unable to decide whether to do so would be the right decision for him. Staying on rent or getting a new home?

Friends, many similar questions or problems keep coming up. Some problems are minor but some are so big that if the right decision is not taken, life can be ruined.

Someone thinks: Should I do jobs or do business?

Someone thinks about their career: Whether to do an MBA or MCA?

Should I invest in Mutual Fund or invest in Real Estate?

You will also have some questions about which you are not able to make the right decision.

So now the question comes, how to make the right decision? (How to make Right Decision)

Is there a way to make the right decision? (Decision Making Process)

Yes! There is a way by which such decisions can be taken correctly. There is a way in which we can make a decision that benefits us.

Let us know what is that way of decision making?

So, first of all, you understand why we are not able to take the right decision?

Why are we stuck between two things or options?

This happens because the two things or options that we have to decide between, both those things have some advantages and both things also have some disadvantages.

In such a situation, we sometimes think of the benefit of the first thing and sometimes think of the benefit of the second thing. Apart from this, we sometimes think of the loss of the first thing and sometimes think of the loss of the second thing.

And they are unable to take the right decision in this thinking. Think if both things do not have their advantages and disadvantages, then it will be very easy to make decisions.

See an Example

Let me give you an example. If you want to work and you have got job offers from two companies. The first company is talking about giving you ₹70000 every month, far away from your home and not giving good facilities.

While the other company is talking about giving you ₹50000 every month, if you are near your home and are giving a lot of facilities for you, then what will be your decision?

It is a simple matter that you will choose a job with ₹70000 because you have the advantage in this job, whereas you will not even think about a ₹50000 job because your loss in this job is a loss.

Now let’s talk about making decisions whose options have both advantages and disadvantages hidden.

Right Way to Decision Making here is that you take a diary and a pen and write in it the advantages and disadvantages of both options. This is the decision-making process.

First, you take the first thing or option and on a page draw a vertical line in the middle and write its advantages on its left side and its disadvantages on the right. Similarly, write the advantages and disadvantages of another thing or option on another page.

Now count the advantages and disadvantages of both. Now choose the thing or option which has more advantages and fewer disadvantages. This will be the best and right way to make your decision.

Come on guys; let me give you an example. Here we take the problem of Shyam. He is not able to decide whether to take his house or stay in a rented house?

Let me tell you that Shyam is from a village and the city he is working in is very far away and the company he is working in is only in that city and he has no branch anywhere else. He is also fully satisfied with his job.

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Executing the decision-making process

Shyam has two options. The first is that he stays at the rented house and the second that he buys his new house. Let’s first talk about the option and see its advantages and disadvantages –

Benefits of living in a rental house

1. Shyam pays 10 thousand rents every month, in which he gives about 14 to 15 thousand months by spending electricity etc. He will need at least 40 lakhs to get a new house, which is too much.
2. If he ever has any problem with the environment around the house, then he can leave the rented house whenever he wants and rent another house.

Disadvantages of living in a rental house

1. Shyam gives 14 to 15 thousand as rent every month, which is a huge expense for him. He cannot escape it even if he wants to.
2. On the day of the landlord, there is interference in the matter.
3. The part of the house in which they live is limited.
4. If you want to make any changes inside the house, you cannot.
5. Shyam will be sorry to stay on rent for life while there is another option.
6. Every year the landlord pays the rent big.

Let us now talk about the second option of Shyam and its advantages and disadvantages –

Benefits of buying a new home

1. If Shyam takes a new house, he can make some money from his expenses and take a loan from the rest of the bank, whose EMI will be almost equal to his rental expenses.
2. We do not get any return of rental rupees; this is a cost while paying almost the same EMI, Shyam will get a house return in the future.
3. When Shyam has to do a full life job in the same company and the same city, then his house will be the best.
4. He can buy a house near his office which has many benefits.
5. Your house, your rules, no mess, and no mess.
6. Whenever you want, anyone can make big or small changes in the house.
7. There is no hassle of increasing the rent and EMI is almost always the same.
8. There will come a time when that house will be completely own because by then EMI will be complete.

Disadvantages of buying a new house of Shyam

1. If the surrounding environment gets disturbed, then it cannot change the house.
2. While taking home, he will have to spend some money from himself or else EMI can be much more than the rental amount.

Conclusion

Now let us see what decision Shyam should take?

It is very clear that Shyam will get many benefits from buying a house and the disadvantages are very small, while the benefits of living in a rental house will be very less and the disadvantages will be more, then the decision is clear that Shyam will definitely buy a new house and it will be a right decision.

If you have a dilemma about something and how to make the right decision? If you are thinking this, then you too can adopt this correct decision-making method.

I promise you that your decision will be right after going through this decision-making process.  So what is the delay, pick up a copy and a pen and start to make the right decision using this decision-making process and to get success in every aspect of life by taking the right decision.

Best wishes for your success.