Decisions affect people in an organization collectively. Application of information cascade helps managers to decide without considering personal knowledge on the issues affecting a firm (Hoch & Wharton School, 2004). Recognizing and evading personal knowledge helps in promoting effective decision-making in a company. A comprehension of stakeholders' needs and interests assists in defining the intended decisions. Further, it helps to select participants in the decision-making process in a company (Moran, 2015). Stakeholders with an excellent comprehension of organizational issues and requirements help in promoting effective decisions and successful implementation of significant decisions to ensure satisfactory outcomes of the firm.
I experienced a challenge when one employee exhibited ill-health conditions resulting in reduced organizational performance. Mrs. Stanley's ill-health condition required expensive medical service; however, she opposed my decision to seek medical assistance at the adjacent health institution. She did not consider attending a private hospital because the health institution offers expensive medical policies. Accordingly, high deductible policies discourage people or employees from using costly healthcare or medical services.
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However, the engagement of employees in making decisions helps in promoting a collective responsibility in ensuring effective healthcare services. Ensuring effective decision-making requires recognition and definition of the intended decisions in a firm. I explained the significance of developing a collective responsibility for promoting the well-being of employees through minimum salary deduction monthly. Though multiple organizations offer medical cover, collective responsibility in my firm promotes instant medical assistance through immediate referral to the health institution for adequate healthcare service. Lack of employee engagement may result in immediate decision-making; however, minimal acceptance of the collective healthcare responsibility would affect the successful implementation of the decision in my firm (Hester & Adams, 2017). Consequently, engaging workers in making healthcare decisions promoted the unanimous decision of implementing the collective healthcare initiative in my firm.
Finally, acknowledging and avoiding personal knowledge promotes effective decision-making in an organization. Understanding the needs and interests of stakeholders enhances a firm's decision-making process. Lastly, moderate deductible policies encourage employees to use various services, for example, healthcare services.
References
Hester, P. T., & Adams, K. M. G. (2017). Systemic Decision Making: Fundamentals for Addressing Problems and Messes . Springer.
Hoch, S. J., & Wharton School. (2004). Wharton on making decisions . Hoboken, N.J: Wiley.
Moran, A. (2015). Managing Agile: Strategy, implementation, organization and people . Springer.
