Decision Modeling – Article Example
Intuition and Decision Making Intuitive decision making is a person’s ability to make decision unknowingly or subconsciously without a proper reasoning or logic. Usually, in business world, the decisions are more often taken by mangers and strategic leaders based on intuition. This is not apt as the gut feeling cannot be reliable on all circumstances. While making decision on intuition, the person does not have real understanding from where the facts and information for the basis of the decision has arrived. So as Hayashi says, intuition should not be the criteria on which the business leaders need to make decision. Business decision should be made, taking into account many facts like survey conducted, information gathered from other managerial heads, competitors business functioning and knowledge earned from business experiences
According to (Hayashi)“Over the years, various management studies have found that executives routinely rely on their intuition to solve complex problems with logical methods”. Intuition is not a faculty which can be trusted and used in a business concern. More or less it can be used in your everyday life where there is not much risk attached. In real sense, in business world there is no place for intuition, but we can slightly apply intuition when it comes to the matter of marketing a product. When we market a product, we can match our sensory perception with that of the market segment. Our intuition can tell us that this advertisement campaign is going to be effective. This is because along with the intuition we have our sense of appeal which will help in gauging the popularity of the advertisement campaign.
Hayashi, A. M. (2001, February). When to Trust Your Gut. In aldorf.nexlearn.com. Retrieved June 3, 2012, from http://waldorf.nexlearn.com/harvard/dm/c1tools/when_to_trust_your_gut.pdf