Critical Thinking and Managerial Decision Making

Contents

Introduction.

Theoretical Review..

Practical Application.

Self-knowledge and Self-development

Learning for Future.

Conclusion.

References.

Introduction to Improving Decision Making in Complexity Environment

It is true to say that decisions are vital for solving issues, undertaking the situations, managing crises, and foreseeable managing conflicts. Decision making refers to the procedure of monitoring available choices and choosing an alternative course of action suitably as per the situation (Ghattas, Soffer and Peleg 2014). Moreover, critical thinking enables a person in an organization to better evaluate the information, individuals, data, and other aspects. It can be said that critical thinking is one of the usual decision-making techniques in the business (Dwyer, Boswell, and Elliott 2015). This essay is set to reflect on my learning for the topics named self-awareness, reflection & critical thinking; sense-making in the real world; evidence-based management; and decision complexity & problem-solving.

Theoretical Review

Critical thinking is an essential component for decision making as it increases the decision-making model to a level of cognizant and careful choice and enhances the vulnerability of decisions to cause and judgment (Turan, Fidan, and Yıldıran 2019). It can be said that the self-awareness concept is crucial for critical thinking and decision making. Self-awareness refers to knowing their feelings, likings, character, and comprehending how such factors impact a person’s judgment, decisions, and connections with others (Showry and Manasa 2014). I select this concept from the topics as the learning of the self-awareness concept enables me to perform with the genuineness and persuasion that quality requires. Moreover, I need to be self-aware as it further assists me to build my self-confidence; self-assessment; and emotional self-awareness. I believe that reflective practice is one of the means via which I can enhance my self-awareness using a structured analytical procedure. It is important for me because a highly confident and emotional individual can be able to make better decisions regarding anything.

Evidence-based management is one of the systematic and considered approaches to decision making. This approach enables managers, specialists, and other practitioners to overcome weaknesses via the usage of decision aids and outlines to assist better quality choices. Furthermore, it is the science learned the practice of management that is about utilizing technical knowledge to inform the decision of managers and the nature comment content and procedures of decision-making in the company (Stonebraker and Howard 2018). It approaches is of great relevance to me as I want to become a human resource professional and this kind of decision making helps me creating effective practices in numerous aspects like compensation, change management, hiring, and so on. Besides, it will help me in generating informed and intelligent perspectives, decisions, and strategies within the business.

Every day managers have to deal with the complex situations and problems for which they, as the decision-makers have to progressively depend upon their judgment and intuition. Managers must have the ability to comprehend and discover complex circumstances, take note of human additive factors, plan decision processes, and strategies for impacting complex situations (Gorzeń-Mitka and Okręglicka 2014). The concept of decision complexity and problem-solving is relevant for me to learn as I want to consider complex situations as a challenge to me so that I can be able to incorporate logical processes and perceptions in the decision-making process. Furthermore, problem-solving is equally important for the complex decisions for the better decisions that entail problem identification, solution generation, solution evaluation, and implementation of the chosen solution (Epishin and Bogacheva 2020). The decision matrix is also a vital aspect of the problem-solution generation and used in the evaluation. It is a chart that enables a person to methodically recognize, evaluate, and rate the strength of association between the sets of information (Dabbagh and Yousefi 2019).

Furthermore, I choose the topic as sense-making in the real-world to reflect upon my learning and its significance to me. The sense-making indicates how individuals structure the unknown to be capable to perform in that. The decision-makers or leaders at work get facilitated by this approach to have a better grip on what is going on in their surroundings, and hence enabling other supervision actions like relating, inventing, and visioning (Chater and Loewenstein 2016).

Practical Application

In regards to my current interpersonal relationships and professional workplace experiences, I would like to say that all the above concepts help me to make effective decisions at all times. I am a self-aware person who knows his strengths and weaknesses, personalities, values, habits, and drives. The self-awareness of mine assists me in enhancing my judgment strength and aids me in recognizing prospects for professional development and personal growth. This concept made me learn how others perceive my attitude and reaction to them. Additionally, it facilitates me to know myself better far to control my feelings and behaviours, and hence it enhances my interpersonal associations (Mertens 2017). At my workplace, I usually use an evidence-based approach while taking decisions regarding numerous policies of human resources. It enables me to go through available study evidence and learned by practical evidence from the relevant area. Furthermore, learning the concept of sense-making made me understand to learn about altering markets, client migration, and novel technologies at the workplace. I believe that it is the much-required skills that one must-have for effective decisions at the workplace. It is because it is needed at the time when the environment is constantly changing and presenting the business with the surprises for which it is not prepared. This learning of mine about sense-making in the real-world allows me to inform my decision-making by leaning the novel information and change my actions invaluable manner (Chater and Loewenstein 2016). Moreover, my interpersonal relations become robust and strong while connecting with numerous people in search of novel information in regards to changing the environment. Additionally, I apply the principle of critical thinking at my workplace to avoid the complexity in making decisions. While taking any decision at my work, I usually follow cause and reason as the basis for effective decision-making (Rodzalan and Mohamed Saat 2015). I developed the skills of the critical thinker with my practice and experience till now and I never resisted learning the things.

Self-Knowledge and Self-Development

My results of the self-assessment of decision-making style demonstrate that I score highest in E that means I am a spontaneous decision-maker. It further means that I make vital decisions very promptly and without any real concerns and issues. I carry a strong aspiration and a sense of immediacy to accomplish the decision-making as soon as possible. I believe that time is considered as a limited corporate resource that makes decision speed an essential assumption in the company's decision-making. With this style, I can better handle the issues related to people management at work that need speedy decisions. Moreover, I also believe that decision speed attained by this style can be a means of competitive advantage in regards to succeeding experiential instructions of the quest for market innovation. It also improves my decision quality along with the speed of making choices. Furthermore, I score the least in D meaning that I do not possess characteristics of avoidant decision-making style. Besides, I always come forward to take all decisions irrespective of how important or unimportant they are. While I am good at taking spontaneous decisions but I am lacking in certain aspects like systematic decision-making. I need to develop certain skills so that I can collect relevant information first before moving forward towards making decisions for the company. Moreover, there is a need of controlling my sentiments and emotions for taking effective decisions. However, I find difficulty in a group decision making as all the members have their perceptions and insights. Thus, there may be conflicting conditions when the members disagree with others. As an HR professional, I need to collect relevant facts and figures to support my decisions. These may require using performance data of workers to make decisions, ensure that data is current. I have to use an evidence-based approach more effectively to support effective choice sat work. Furthermore, I will improve myself in managing conflicting situations in group decision making. It will help in identifying the difference between losing and winning conduction.

Learning for Future

There is no doubt that learning of all these concepts related to decision making, help me in developing myself for the forthcoming. In my future and career, I will use my learning and understanding about the essential aspects like critical thinking, self-awareness, self-reflection, evidence-based approach, and sense-making needed to make the decisions effectively. Furthermore, I will use the four sources named as corporate data, professional expertise, stakeholder value, and insights from scientific study to support my decisions at work. Decisions are indeed challenging due to practical issues like lack of time, money, and bureaucratic culture. Moreover, these are typically also due to certain suppositions about us and decisions. However, if one can carve out some time for reflection and understand of the suppositions running behind the background of his decision making, then he will be better positioned to take effective decisions. Keeping this thing in mind, I will always carve out time for me for reflection and self-awareness so that my decisions are effective always. I will build my innovative ideas and solutions to difficult issues using my reasoning and logic that I learned from the critical thinking concept. I will use my skills to understand the broader implications that business decisions may have on the aspects of the business. Furthermore, I will use self-awareness skills as a leader in the future. It will help me to better engage with clients and workers by having an understanding of my personality, weaknesses, strengths, and sentiments. In the future, I will focus on fostering open communication, by being objective, and using 360 assessments as a leader for the betterment of employees and the company as a whole.

Conclusion on Improving Decision Making in Complexity Environment

From the above reflective essay on my learning of four topics relating to managerial decision making, it can be concluded that decision making is the most essential factor leading to corporate output and workplace satisfaction in the contemporary times. The self-awareness concept enables me to perform with the genuineness and persuasion that quality requires. Moreover, I need to be self-aware as it further assists me to build my self-confidence; self-assessment; and emotional self-awareness. It can also be inferred that I possess a spontaneous decision-making style as per the self-assessment test. With this style, I can better handle the issues related to people management at work that need speedy decisions. Moreover, I also believe that decision speed attained by this style can be a means of competitive advantage in regards to succeeding experiential instructions of the quest for market innovation. The self-awareness of mine assists me in enhancing my judgment strength and aids me in recognizing prospects for professional development and personal growth. This concept made me learn how others perceive my attitude and reaction to them

References for Improving Decision Making in Complexity Environment

Chater, N., and Loewenstein, G.2016. The under-appreciated drive for sense-making. Journal of Economic Behavior & Organization126, pp.137-154.

Dabbagh, R., and Yousefi, S.2019. A hybrid decision-making approach based on FCM and MOORA for occupational health and safety risk analysis. Journal of safety research71, pp.111-123.Dwyer, C.P., Boswell, A., and Elliott, M.A.2015. An evaluation of critical thinking competencies in business settings. Journal of Education for Business90(5), pp.260-269.

Epishin, V., and Bogacheva, N.2020. Tolerance for Uncertainty and Patterns of Decision-Making in Complex Problem-Solving Strategies. Multimodal Technologies and Interaction4(3), p.58.

Ghattas, J., Soffer, P., and Peleg, M.2014. Improving business process decision making based on experience. Decision Support Systems59, pp.93-107.

Gorzeń-Mitka, I. and Okręglicka, M.2014. Improving decision making in complexity environment. Procedia Economics and Finance16, pp.402-409.

Mertens, D.M.2017. Transformative research: personal and societal. International Journal for Transformative Research4(1), pp.18-24.

Rodzalan, S.A., and Mohamed Saat, M.2015. The perception of critical thinking and problem-solving skills among Malaysian undergraduate students. Procedia-Social and Behavioral Sciences172, pp.725-732.

Showry, M. and Manasa, K.V.L. 2014. Self-awareness-key to effective leadership. IUP Journal of Soft Skills8(1), p.15.

Stonebraker, I. and Howard, H.A. 2018. Evidence-based decision-making: awareness, process, and practice in the management classroom. The Journal of Academic Librarianship44(1), pp.113-117.

Turan, U., Fidan, Y. and Yıldıran, C. 2019. Critical Thinking as a Qualified Decision-Making Tool. Journal of History Culture and Art Research8(4), pp.1-18.

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