Researching a business decision

Essay by agakutynaA+, March 2006

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The benefits of researching a business decision rather that making an intuitive or "gut"

decision is the amount of critical information gained to assist in the decision process. It

is important to have a broad spectrum of information regarding all of the variables in any

given situation. In order to make informed rational decisions one should be aware of the

pros, the cons, the cost, and the consequence before jumping into a committed contract

or decision. Researching also helps the decision maker see history or previous

performance of the organization or topic that he or she is researching. Viewing the

history of a situation can sometimes help to predict the future or future needs.

Business decisions, much like business relationships, are different from those in our

personal lives. In our personal lives, we rely heavily on instincts and emotions, but

business relationships and decisions must remove those types of natural reactions.

Business is something that is conducted with people that you do not necessarily choose,

and the decisions that are made in that environment must be made with an educated

foundation on the subject. Reactionary decision making is a dangerous approach,

because if wrong, often times something is lost, be it a customer, or a business

relationship. Business research ensures that the decision maker has taken the

appropriate steps to investigate the subject matter, and in turn make a decision based on

facts, and hopefully with that information, the correct decision is made.

By researching, you are gaining insight and knowledge. You are educating yourself with

the pros and the cons and therefore, taking the "emotional" side out of making a

decision. You can make a decision based on sound facts and if you decide to let the

emotional side step, at least you know the facts.

To achieve...