BICOL UNIVERSITY

GRADUATE SCHOOL
LEGAZPI CITY

Name: GRACE R. CAMPOS Year & Course: 2ND YR EDD ELM

Course Code and Description: EDD ELM 305 Administrative & Supervisory Management
Professor: DR. REINA HABALO

ACTIVITY 5

1. What do you see as the main difference between a successful and an

unsuccessful decision? How much does luck versus skill have to do with it?

Most people, I believe, would define a successful decision as one that results
in a successful outcome. That's perplexing because driving yourself home safely after a
night of heavy drinking is an example of a successful decision. Even if the outcome was
favorable, that was a poor decision. Similarly, you could mortgage your home to purchase
lottery tickets and win a large sum of money. Good outcome from a bad decision. In other
words, there is a critical distinction between how we evaluate the decision-making
process and how we evaluate the outcome that results. As much as we would like to learn
how to make consistently successful decisions, or even more consistently, that is a fool's
errand, as your second question anticipates.

Almost all interesting real-world decisions involve uncertainties, and no matter

how hard we try to understand and incorporate them into a good decision-making
process, the outcome will be influenced in part by chance. Luck will always play a role,
but not in the way that most people think of it. Many people mistake "luck" for having a
higher risk tolerance combined with personal resilience. Look for opportunities, take risks,
capitalize on your victories, and most importantly, learn from and don't be discouraged by
your losses and mistakes. The growth mindset is very popular right now. The key idea
here is that you can create your own luck by being more open to opportunities.

I believe that our luck may be bad, that things may not work out no matter how
hard we work, and that we may continue to fail, but that one day we may be in the right
place and at the right time. All successful people fail and experience depression, but they
continue to work. Every successful decision was made by making bad decisions in the
past, implying that our experience is crucial in making successful decisions. Everyone
thinks that a skilled person is lucky, but he may have been working hard since the
beginning of his life, not knowing what he is doing.
 2. Research has shown that over half of the decisions made within
organizations fail. Does this surprise you? Why or why not?

No, this is not surprising, as there are many reasons that can explain why
organizations fail. Organizations are consisting of individuals or staff members who share
the same set of goals, skill sets, work procedures, etc. For the sake of their group as well
as the survival and success of the organizations, these employees must make wise and
sensible decisions. Decision-making groups will need to consider various viewpoints to
reach wise conclusions. Decisions made by groups will have both positive and negative
effects on many individuals, including everyone in the group, the organization, clients,
etc., in contrast to personal decisions that may only affect one person, i.e., the decision-
maker and some others.

In an organization, a lack of planning leads to failure. Many organizations fail

because they fail to establish a clear plan of the goals, they want the organization to
achieve. Improper decision–making structure can be attributed to this. A centralized
organizational structure allows for all decisions to be taken at the corporate level in many
firms. The corporate office could not, however, have all the information and
comprehension that a division manager would. This can therefore result in the wrong
initiatives being pursued or in managers receiving insufficient support, both of which have
an impact on the organization’s goals. Unexpected circumstances can also contribute to
an organization's failure. Accidents, natural disasters, pandemics, and similar events
have a substantial impact on an organization's failure.

Thus, group decisions include higher levels of risk. A proper decision-making

procedure must be followed, leaving no possibility for error, dispute, or instability.
Depending on how well the procedures are run and how well the final choice is made,
decision-making is one of the key processes in an organization that can result in profits
as well as failures and losses for the business.