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              The Invention of the Shopping Cart and Its Psychological Impact on Consumer Behaviour

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              Organizational structures  shape company’s value creation

              Organizational structures  shape company’s value creation

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              What is Asset Specificity?

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                      The Story Behind the song “Khoya Khoya Chand” from Film Kala Bazar

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                      Why label your decision ‘good’ or ‘bad’?

                      Dr Vidya Hattangadi by Dr Vidya Hattangadi
                      September 26, 2022
                      in GENERAL
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                      Why label your decision ‘good’ or ‘bad’?

                      label1

                      It’s a shocking fact but according to multiple sources, on an average an adult makes about 35,000 decisions in a day. Young children make about 3,000 decisions each day. The decisions diverge from which dress to wear, what to eat for lunch, what to cook, whether to go in for a haircut, whether to go for voting, whether to continue sleeping, whether to say hello to someone on the road who is friendly or not so friendly etc, etc…. these are common decisions besides the serious issues on which we take decisions almost every moment in a day. However, there is no accuracy in each decision making of ours. For many of us decision making seems more of a challenge than it should be, for many of our decisions we rely on somebody for their opinions.

                      When we look back, I am sure, we feel there are so many decisions we made are not the correct decisions. Let’s take a simple example, your recent visit to restaurant for dinner will make you think whether your menu choice was right or not, was it the best decision? Could you have something new on the menu? Think of all those business decisions we need to make. They are more complex and more puzzling. It’s not that we don’t want to decide, or that we are intentionally being difficult about an issue. Sometimes, decision-making is just really, really challenging, even when it seems like it’s about something totally superfluous. We find loads of people who shy away from making decisions; it is an issue for many people. Let me tell you, it is a glaring fact that more and more people want shy away from making decisions than ever before.

                      Recently, a lot of research has focused on a certain mental limitation, which has to do with our ability to use a mental trait known as executive function. When we focus on a specific task for an extended period of time, mind gets confused about how to implement the task; it’s like if I wanted to eat a burger and I instead ate salad, I am flexing my executive function muscles. Both thought processes require conscious effort; one needs to resist the temptation to let his/her mind wander. However, that use of executive function, which is a talent we all rely on throughout the day draws upon a single resource of limited capacity in the brain. When this resource is exhausted by one activity, our mental capacity may be strictly hindered in another, seemingly unrelated activity. And this process of thinking and making decisions goes on and on.

                      The skill of good decision-making has become increasingly important. We have an abundance of choices, both with the simple things in life such as ordering from a menu, where to go for a haircut, which style of suit to stitch, which perfume brand to buy to the serious things in life such as choosing your career, health treatment, or whom to marry. When making a tough personal or professional decision, I think the best advice is ‘Be TRUE to yourself.

                      label2

                      Before you know when to trust your gut, you have to know yourself well enough to understand where on the decision-making scale you fall. On one end of the spectrum, you have the highly intuitive people, and on the other are the intensely analytical people. It seems, Sam Walton used to take a lot of decisions based on his gut feelings: on one such occasion, Walton’s decision to hold Saturday morning all-employee meetings which led to a culture of rapid information and decision making, which in turn created one of the biggest companies in the world. Similarly, Jack Welch’s decision at General Electric (GE) to fully fund a first-in-class training center at Crotonville, led to the development of hundreds of great leaders who practiced the “GE Way”. Henry Ford was a quick decision maker – he is famously known for his decision making power. Henry Ford’s decision to double the wages of his workers enabled him to attract the talent he needed, and helped insure a class of worker who could afford the very products they were building.

                      Under the dynamic leadership of Indira Gandhi, India’s voice was heard with respect in various international organizations and forums. She took certain decisions keeping in view the prevalent circumstances that resulted in raising the stature of India at the international level. She had no articulated world vision but had observed her father identifying India’s national interest with independent decision-making in international affairs, economic development at home and the exclusion of India and its neighborhood in Southern Asia from either of superpower’s sphere of influence. Her decisions were pragmatic, her dealings with foreign leaders tough.  The truth is under her leadership, India started progressing in many areas. Indira Gandhi was a quick decision maker.

                      label3

                      Our emotions help us decide what’s important to us, they prompt us  to take some action, they guide us toward an aspect of what needs to be exposed and what needs to be healed of self, they also guide us when we are out of balance so that we can bring back ourselves to center. Friends, each decision of ours need not be ‘correct’. In life’s journey, we go through the thick and thin, with each good or bad experience. Some choices may lead to more painful lessons than others, but that doesn’t mean we should not make decisions. I have seen people who flip a coin to make decisions as in ‘yes’ or ‘no,’ chits with ‘yes’, ‘no’ scribbled on them, seeing a soothsayer for his advice and some more weird things. Life involves some risks. Flip the coin and see where it leads you.

                      I believe, it’s better to trust our intuition because sometimes our intuition guides us toward those things we fear the most so that we can push past them and become stronger as a result. The next time you feel fear, embrace it, inspect it, and if guided to do so, move boldly toward it. Try it!

                      Tags: decision makingDr. Vidya Hattangadiexecutive function of brainhuman resourceintuition.Managementright decisionWhy label your decision ‘good’ or ‘bad’?wrong decision
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                      Dr Vidya Hattangadi

                      Dr Vidya Hattangadi

                      Dr. Vidya Hattangadi is an accomplished academician, researcher, and thought leader with over four decades of combined experience 20 years in managerial roles in industry and 24 years in management education. She holds a PhD in Marketing Management from Savitribai Phule Pune University and a D.Litt. from the University of Mumbai for her post-doctoral published work. She is a prolific writer and blogger, Dr. Hattangadi runs the widely read blog www.drvidyahattangadi.com, which enjoys strong organic traffic and engages readers across a broad spectrum of subjects, including management, leadership, psychology, social trends, music, current affairs, and politics and psychology. Her blog is 12 years old. Her experience of combining knowledge of industry work with an academic background creates a powerful, "pracademic" profile that bridges the gap between theoretical knowledge and practical application. This hybrid approach has made her a powerful Professor in the classrooms and she has produced graduates who are not just knowledgeable, but industry-ready. She worked for Maratha Mandir’s Babasaheb Gawde Institute of Management Studies as Director, Research Head and Professor. She has written a fortnightly column for The Financial Express from 2017 to 2021 and has contributed extensively to leading publications such as The Hindu, Free Press Journal, and The Economic Times. Her articles are known for their analytical depth, clarity, and relevance to contemporary issues. Dr. Hattangadi has successfully guided 35 PhD scholars in Management Studies across institutions such as the University of Mumbai, SNDT Women’s University, and Yashwantrao Chavan Maharashtra Open University (YCMOU) and Guglielmo Unimarconi Italian University. Currently, she is working on her YouTube channel "Vidya's Vidya" mentoring doctoral researchers in the areas of Finance, Strategic Management, Organizational Behaviour, Human Resource Management, and Marketing Management. She is an accomplished author, she has written books on Strategic Management, Buyer Behaviour, International Business and Entrepreneurship Management, Faith Economy, contributed chapters to four edited volumes of books, and published over 350 research papers in national and international journals. Her scholarly work has strong visibility and impact, reflected in her robust presence on Google Scholar, Research Gate, Vidwan etc. Her research in all fields of management studies is truly ground-breaking. The rigor and depth of her knowledge have set a new standard in our field of management studies.

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