Decisions making process…is it facts or intuitions? Part 2

An example where decision making process should have been based on facts and lessons from history is the current conflict in Iraq. From what we know today, it is obvious that the decision to go to war was not based on facts and history lessons learned from that region of the world, the decision was based mostly in intuitions and hopes that everything will just work out fine.
I think it’s not practical to develop a single decision making methodology, because people will always use their intuitions, believes and the sense of adventure to make decision. They will not follow a single pattern to reach the best decision.

Even if we developed the best decision making methodology and everyone in the management team adapted that approach, what assurance we got that the decision we made based on our decision making methodology is actually is the best decision. When we invest in the stock market, we tend to get our investment advices from the best stock traders around but then why people lose billion of dollars when stock market crashes.

I am not suggesting that we don’t develop a decision making process, good life needs good planning which is based on good decisions, but what I am trying to conclude is that: decision will be made using many factors and people will see the outcomes of their decisions, either good outcome or otherwise, but the results of the outcome doesn’t always mean that we got full control of the factors that led to the outcome, there are many other factors that we can not include in our decision making process, because in many instances we are not even aware of the presence of these factors. Just like the example of the stock market crash, who would have thought the market will crash, that factor was not taking into considerations when an investor deiced to invest in the stock market, because no one ever thought that factor ever existed.