Commgmt 1001 Introduction To Management Assessment Answers

Art of making good decision is the foundation for time and life management skills. In today’s’ fast pacing world, life of people has become more dynamic and less structured. There is a growing recognition of intuition as a powerful decision making tool. The paper deals with the role of intuition in decision-making.

Every person for once in his or her lifetime has come across difficult or critical situation. It is often heard from an experienced decision maker that they could directly recognise the best way to get through the trickiest situation. These experts have made decision from their intuition instead of deriving lengthy chain of logic. When intuition is used in making decision, the process is dominate by the subconscious mind with different fragments emerging in parallel, while the conscious mind is busy formulating the logic (Butler et al., 2014).

Intuition plays a great role in decision making in situations where a rapid response is required with least time given for complete rationale analysis. Intuition is required when there is a fast-paced change of the factors based on which the whole analysis was based. Intuition is needed when the problem is poorly structured and it is hard to articulate in unambiguous way to take into account the factor and the rules. Intuition plays and effective role in decision making in situation when there is no precedent and one has to deal with the conflicting information (Miles & Sadler-Smith, 2014). While making decision in one of the above-mentioned situation the subconscious mind process the problem and links it with various patterns of the past experiences. The subconscious mind then projects the new problem on previous experiences and delivers a message of wisdom instantly.

Intuition in any management process (business, health care, academics, or personal relationships) is a strategic tool to make logical, subjective, and systematic approach for making major organisational decisions. It gives a leadership advantage as good decisions leads to building of trust and strong relationship with the business subordinates. Business managers of popular organisation such as Apple Inc are known to be a good and bold leader for knowing how to trust intuition for developing brilliant strategies and solving a problem. It is evident from the words of Bill Gates “Often you have to rely on intuition” (Artinger et al., 2015).

Integrating intuition is necessary in decision making in business to gain competitive advantage with positive outcomes to sustain in market. For example, while starting new business one must perform SWOT and PESTEL analysis, economic analysis, and competitor and stakeholder analysis of the target market. Strategic management using intuitive analysis help gain positive financial implications and directs the organisation to attain goals and objectives. Integrative thinking helps the leaders to effectively handle risk and still win. Intuitive analysis in strategic management supports the workforce in any organization to stay motivated, committed and ensures place for morality. Stress free environment can be created by developing stress free strategise at workplace. This process includes use of positive emotions and feelings to resolve conflicts. Negative emotion and attitude will affect the organisation negatively by making inappropriate decisions and losing balance of business. Such strategic decisions by thinking and rethinking lead to effective time management and enhance accuracy in business activities. The barriers to integration of intuition however, may be lack of understanding of intuition and right time of using this tool leading to failure in competitive market (Sadler-Smith, 2016).

In conclusion, intuition plays a great role in making decisions in management process.

References:

Artinger, F., Petersen, M., Gigerenzer, G., & Weibler, J. (2015). Heuristics as adaptive decision strategies in management. Journal of Organizational Behavior, 36(S1).

Butler, J. V., Guiso, L., & Jappelli, T. (2014). The role of intuition and reasoning in driving aversion to risk and ambiguity. Theory and decision, 77(4), 455-484.

Miles, A., & Sadler-Smith, E. (2014). “With recruitment I always feel I need to listen to my gut”: the role of intuition in employee selection. Personnel Review, 43(4), 606-627.

Sadler-Smith, E. (2016). The role of intuition in entrepreneurship and business venturing decisions. European Journal of Work and Organizational Psychology, 25(2), 212-225.