To do? Not to do?
What to do?
When to do?
Why to do?
You must have faced this type of situation, many times.
Entrepreneurs often have to take that many decisions, in a day and every decision is going to define the future of their startup. Neither an entrepreneur can avoid, or delay or bypass the decision.
Let us understand, What is a Decision?
The decision is the act or process of deciding. It is the determination arrived at after consideration.
The entire managerial process is based on decisions. Decisions are needed both for tackling the problems as well as for taking maximum advantage of the opportunities available. Correct decisions reduce complexities, uncertainties, and diversities of the organizational environments.
“Whatever a manager does he does through making decisions.” - Peter. F. Drucker
All matters relating to planning, organizing, direction, coordination, and control are settled by the managers through decisions that are executed into practice by the operators of the enterprise. Objectives, goals, strategies, policies, and organizational designs are all to be decided upon in order to regulate the performance of the business.
As an entrepreneur, you have to make difficult decisions on a daily basis. Those decisions can make or break the future of your business – so, if you don't have the right decision-making process, you'll put your business at risk. ... So, it's important to get a good decision-making process down.
Whenever you see a successful business, someone once made a courageous decision. - Peter. F. Drucker