Intuition Decision Making

How Intuition Decision Making effects a business

What is intuition decision making?

A decision-making process where managers rely on their gut instinct or hunches instead of data.

What is one advantage of intuition decision making?

Decisions can be made quickly without the need to collect and analyze data.

What is another advantage of intuition decision making?

Some managers may have accurate gut feelings and hunches due to years of experience.

What is a disadvantage of intuition decision making in new situations?

Mistakes can be made when there is insufficient experience to inform accurate intuition.

What can intuition decision making lead to if data is not considered?

Decisions may be made for illogical reasons.

When might intuition decision making be appropriate?

When data is unavailable or lacks reliability, making scientific decision making unusable.

Who is more likely to use intuition decision making?

Experienced managers, as they can draw upon their prior experience.

What risk is associated with intuition decision making?

It carries greater risk since it does not take data into account, and may only be suitable for risk-tolerant businesses.