Describe a decision-making scenario using your business experience, personal decision making or cited journal article; include an example of the decision-making process, describe the risk, and whether persuasion was used. What were the social heuristics?

I recently faced a decision-making scenario in my professional life when deciding whether to pursue an opportunity to work part-time remotely. On one hand, I was presented with the potential benefits such as increased flexibility in terms of hours worked and location which would offer me a better work/life balance. On the other hand, I also had some reservations about this option since I was uncertain if I would be able to effectively manage my workload or maintain motivation while working outside of an office environment.

In order to evaluate the situation more objectively, I developed a decision matrix comprising of four criteria – cost, impact on others, likelihood of success and risk. This step helped me identify and quantify key factors so that I could compare each option against these parameters more accurately. The next stage involved using persuasive tactics by weighing up pros and cons associated with each choice as well as soliciting feedback from friends who had past experience with similar situations for further insight.

The social heuristics used during this process included anchoring (utilizing past knowledge or experiences when making decisions), availability bias (using recent information at hand instead of looking at long term implications) and groupthink (tending towards options favored by those you are closest). By applying these heuristics in combination with persuasion techniques, it allowed me to make a more informed judgement regarding which path would be best suited for myself given the particular circumstances.