Assignment 1
Basically, people do delay a decision because they want to do the things right (Decision Making Confidence), and it is much more important to do the right thing (Drucker, 2000). People may feel that the future is uncertain, and they should not hurry to make a decision, otherwise, it may leading them to an unexpected negative consequences, therefore, they do delay a decision because they have enough time to evaluate the decision, as well as analysis the information that they had collected. Thus, the probability of regret can be minimize, and avoid sunk costs as well.
Besides that, Fear considered as one of the most important reason for people do delay a decision when they know it is the right thing for them (Quora). Fear is a normal psychological effect for every single human being. People may fear to make a decision because they fear to make wrong decision. Wrong decision are made can bring them huge and unexpected negative effects, hence, people avoiding and delaying to make decision because fear of unexpected effect.
Benefits of delaying a decision
Firstly, the most important benefit is the probabilities of getting the positive consequences are high. Since the time is ample, we have the time to collect the information from various aspects, valuing and analyzing on the decisions can be done with efficiency before implement the decision. Thence, the probability of making a successful decision is high.
Secondly, delaying a decision able to avoid sunk costs. Sunk Cost is a cost that has already been incurred and thus cannot be recovered. In order to reduce sunk cost, decision maker have to make the decision carefully especially the decision which can bring a huge influence towards the maker. Being delay a decision, decision maker has a lot of time to think about the consequences of a decision which could probably happen, then choose the best decision