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Value based decision making

All of us have to make decisions every day. Some decisions are relatively straightforward and simple: Is this report ready to send to my professor now? Others are quite complex: What kind of person would I want for a spouse?

Simple decisions usually need a simple decision-making process. But difficult decisions typically involve issues like these:

Uncertainty – Many facts may not be known.
Complexity – You have to consider many interrelated factors.
High-risk consequences – The impact of the decision may be significant.
Alternatives – Each has its own set of uncertainties and consequences.
Interpersonal issues – It can be difficult to predict how other people will react.

With these difficulties in mind, the best way to make a complex decision is to use an effective process. Clear processes usually lead to consistent, high-quality results, and they can improve the quality of almost everything we do. In this article, we outline a process that will help improve the quality of your decisions.

How Values Help You

Values exist, whether you recognize them or not. Life can be much easier when you acknowledge your values – and when you make plans and decisions that honor them.
If you value family, but you have to work 70-hour weeks in your job, will you feel internal stress and conflict? And if you don’t value competition, and you work in a highly competitive sales environment, are you likely to be satisfied with your job?

In these types of situations, understanding your values can really help. So, take the time to understand the real priorities in your life, and you’ll be able to determine the best direction for you and your life goals.

Defining Your Values

When you define your values, you discover what’s truly important to you. A good way of starting to do this is to look back on your life – to identify when you felt really good, and really confident that you were making good choices.

Step 1: Identify the times when you were happiest

Find examples from both your career and personal life. This will ensure some balance in your answers.
What were you doing?
Were you with other people? Who?
What other factors contributed to your happiness?

Step 2: Identify the times when you were most proud

Use examples from your career and personal life.
Why were you proud?
Did other people share your pride? Who?
What other factors contributed to your feelings of pride?

Step 3: Identify the times when you were most fulfilled and satisfied

Again, use both work and personal examples.
What need or desire was fulfilled?
How and why did the experience give your life meaning?
What other factors contributed to your feelings of fulfillment?

Step 4: Determine your top values, based on your experiences of happiness, pride, and fulfillment

Why is each experience truly important and memorable? Use the following list of common personal values to help you get started – and aim for about 10 top values. (As you work through, you may find that some of these naturally combine. For instance, if you value philanthropy, community, and generosity, you might say that service to others is one of your top values.)

Step 5: Prioritize your top values

This step is probably the most difficult, because you’ll have to look deep inside yourself. It’s also the most important step, because, when making a decision, you’ll have to choose between solutions that may satisfy different values. This is when you must know which value is more important to you. Write down your top values, not in any particular order. Look at the first two values and ask yourself, “If I could satisfy only one of these, which would I choose?” It might help to visualize a situation in which you would have to make that choice. For example, if you compare the values of service and stability, imagine that you must decide whether to sell your house and move to another country to do valuable foreign aid work, or keep your house and volunteer to do charity work closer to home. Keep working through the list, by comparing each value with each other value, until your list is in the correct order.

Step 6: Reaffirm your values

Check your top-priority values, and make sure they fit with your life and your vision for yourself.
Do these values make you feel good about yourself?
Are you proud of your top three values?
Would you be comfortable and proud to tell your values to people you respect and admire?
Do these values represent things you would support, even if your choice isn’t popular, and it puts you in the minority?

When you consider your values in decision making, you can be sure to keep your sense of integrity and what you know is right, and approach decisions with confidence and clarity. You’ll also know that what you’re doing is best for your current and future happiness and satisfaction. a href=”http://www.mindtools.com/pages/article/newTED_85.htm”>Sorce info

Making value-based choices may not always be easy. However, making a choice that you know is right is a lot less difficult in the long run.

Mind Tools – web resource portal

Decision matrix for college students

Positive compromise: a new perspective for career psychology

Maximizing versus satisficing: happiness is a matter of choice