What role does intuition play in effective decision making?

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Expert Solution

Intuition plays a significant role in effective decision making. It is not always possible to approach the decision making process in a rational manner. In certain cases when decision making makes use of intuition it helps the decision maker to avoid any prejudices . The rational decision making process, in certain cases and in certain situations, can lead the decision maker into taking too much precautions. This can, in turn, lead them to taking decisions that are sub-optimal or not optimal. On the other hand use of intuition can help the decision makers to make decisions that are partly informed decisions and that are partly based on their intuitions. This does not make them fully risk averse and pushes them to take reasonable risks. Such a decision making process will most likely ensure that decision makers are taking the best possible decision, given the prevailing situation and circumstances.

It should be noted that intuition is not contrary to reason. Rather, intuition is something which does not belong to the province of reason. Intuition does involve reasoning and is not blind guessing and is not devoid of rationality. Many decisions based on intuition can be logical as well as well-founded. Intuition can allow the decision makers to synthesize isolated pieces of data as well as isolated pieces of experiences and form them into one complete and integrated picture.

Thus it is safe to say that intuition plays a significant role in effective decision making and can be a holistic perception of reality that crosses the rational way of thinking and the rational way of knowing.

keosha answered 1 year ago

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