A two word answer "(Right) Decision Making”.
I will give one of my experiences to illustrate the idea of decision making. In one of my exams in the course "Operations Management" a section of the question paper contained multiple choice questions.
For one of the questions none of the choices is answer. I wasted my time on it trying to fit one of the answers. After realising that I spent a lot of time I convinced myself that option(d) is the nearest and marked it. When I checked the evaluated paper I got zero marks for the question. I asked the professor. He told that none of the choices is answer. Then I said "(Yippee) Give me the marks”. He replied back, “Why, because you marked some option? You are not studying management to make some decision. You got to take right decision. When none of the options available is the right answer you should not go for any option. Learn to make appropriate decisions. This is the penalty for not making right decision”.
My education taught me many concepts, frameworks and models. It never taught me,” Understanding the problem and addressing it”. I always loaded my gun with all those concepts, frameworks and models. Let us call them bullets. Whenever I found a problem I shot at it continuously with a hope that one or the other bullet might hit. I hope that I unlearn this by the end of my MBA course.
There is nothing like “Yes and No” or “No right answer, No wrong answer”. I don’t buy this school of thought. For any problem there is one solution. It might be that you haven’t yet identified that one solution.
Why waste so many bullets? Take time to aim the target and hit it with the right bullet!