Management with Humour Lect. 2

Decision making and Choice.

A problem may exist but it is not a problem unless you are aware of it.
Also, you choose what problems you have in life. You yourself decided if something is going to be a problem to you.
Ask yourselves, " Can I live with the problem?".
If you can, then it is no longer a problem.

After analyzing the situation and having decided on an alternative to resolve the problem,
things do not end here. A manager has to make sure everything goes according to the new plan and do follow-ups.
Evaluate the outcome. Was the plan effective? Has the problem been solved?
If it is not, new measures need to be taken to solve the problem.
This is especially important today with the ever changing world.
Situations are ever changing and so are the problems. A manager has to follow-up regularly with consistency.
If a manager is inconsistent, his subordinates will have problem following his lead.

Just like treating an illness, solution to a problem has to address the root of the problem and not just the "symptoms".
Addressing the problem only on the surface is only a short term solution.

Dwelling too much on trying to get the best solution, you will realize every solution has it's problems and end up not being able to decide.
Every solution brings with it a seed of the future problem.
Problems will keep appearing.
That is why we need a manager.
Very often, there is no 'Best' solution/outcome for a problem.
The manager has to decided if it is "good enough" and "can I live with the problem?".
Not "giving up" and pull out of a situation early enough because you do not want to waste all the effort that has been put in can result even more lost.
Just like in the stock market, people decide to buy-in even more instead of selling, when then prices are dropping.They do so because they do not wish to lost the money they have invested by selling off their position at a lower price.
Very often, this kind of mentality causes them to go bankrupt.