Good decisions, bad decisions, and right decisions

Mon, 01/28/2019 - 16:14
Author: Dr. Dimitrios P. Charalampidis, Academic Director, New York College Thessaloniki


Decisions have the distinctive feature that they are made in the present but evaluated in the future: good decisions achieve desired outcomes while bad ones do not. Since future is uncertain, it is almost impossible to know a priori if a decision is a good or bad one, especially when conditions change rapidly like they do at present.

Although people cannot know a priori if a decision is a good or bad one, they can make sure decisions are right, i.e. adapted to desired outcomes and the context within which they are made. Decision makers may set desired outcomes at will, but context is out of their “jurisdiction”. Consequently, they must first understand it before incorporating it into the decision-making process and, to do so, knowledge, experience, and perceptive ability are necessary.

Students of Business Administration and related fields at New York College Educational Group have the chance to acquire knowledge from scientists with substantial research and teaching work, learn about the experiences of long-standing business professionals and, in this way, formulate the perceptive ability that will make them capable of dealing with challenges in their professional and personal career. Providing the skills necessary for right decision-making is the ethical “contract” everyone at New York College Educational Group signs with all and each of the students. Only in this way can we guarantee that, for the last 30 years, studying at New York College is the best choice for future decision makers.