The Impact of Emotions on Decision Making

The Impact of Emotions on Decision Making

EQ-Emotional Intelligence

Tunisia I.E. Al-Salahuddin

CSU Global

ORG525 - 1: Leadership and Decision Theory

1/10/2015

Summary: This discussion paper will focus on the impact that emotions and moods have on decision making. Additionally, the module highlights biases in decision making. I will elaborate a bit on the attributes of EQ which are: Self-awareness, self-management, awareness of others, empathy, and relationship management. Psychology Today stated that, “Emotional intelligence is the ability to identify and manage your own emotions and the emotions of others. It is generally said to include 3 skills:

1. Emotional awareness, including the ability to identify your own emotions and those of others;

2. The ability to harness emotions and apply them to tasks like thinking and problems solving;

3. The ability to manage emotions, including the ability to regulate your own emotions, and the ability to cheer up or calm down another person.

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Under the collegiate direction of Dr. Walter McCollum an Associate Professor of Business at CSU-Global, Colorado State University Global Campus and an Associate Professor of Business at University of the District of Columbia.

Introduction

Emotional Intelligence is extremely important when it comes to making wise business decisions. Knowing how to control your emotions and when to deploy particular emotions depending on the organizations situation is a must. Emotional attributes along with understanding how these attributes will influence the outcome of your business decisions is essential. When an entrepreneur or CEO of any business is about to make a substantial business decision using your emotional business intelligence is important. Business emotional intelligence or attributes are extremely different than personal life emotional intelligence the two may cross path, but at all cost leaving your business emotions separate from personal. However this does not mean leave empathy on the bench. In business and out of business always keep empathy as a needed internal instrument like understanding.

Thesis Statement

Even when your co-worker makes a mistake their needs to be business empathy there, but also the understanding that thing will be rectified, and task will be completed. Irene Becker the journal writer of ‘Smart and Fast Are Not Enough: The Need for Better EQ-The 3Q edge,’ stated “It’s the human ability to align instincts, emotions, and thoughts that gives you the capacity to increase your emotional intelligence.

The Impact of Emotions on Decision Making

Embodying EQ Attributes

Being able to grasp the concept and emotional attributes of Emotional Intelligence and Qualities is extremely important. By doing this it shows a sense of business maturity and also a sense of business control of your emotions when making big business decisions. The attributes will help you alleviate the stress of the unknown and make an emotional line between using your personal emotions to make decisions, also by using the business mindset in conjunction with EQ attributes. Embodying these attributes means that you understand not just through emotions, but also through knowledge. Understanding ‘Emotional Intelligence’ raises your success level a bit higher, “In a follow-up study Goleman (1998) noted the very best corporate leaders, while

diverse in their leadership styles, share in common the characteristics of self-awareness, self-regulation, motivation, empathy and social skill” (Hess, 2011).

Creating a Plan to Increase: Motivation, Satisfaction, and Performance in the Workplace

What the leader and worker alike are looking for is success. It should be a requirement by all employers within your organization is for employees to take a mandatory EQ class. In this class coaching will be part of the structure. When the employees take this class they will make a plan for potential growth and how to embody the EQ attributes in order to achieve their goals. The EQ coaching class would encompass the following topics:

· What is the aim of the company

· What is the aim of the individual

· Knowing your attributes

· Empathy

· Knowing when to separate emotions from business decisions.

“In a study of workers at all levels, the single most important factor that distinguished star

performers was EQ, as Daniel Goleman reports in Working with Emotional Intelligence. Of all the strengths required for excellence, 67% are emotional competencies” (Becker, 2015).

Self-Awareness

Being aware of your business strengths is necessary. All great business leaders and professionals know their business strengths and weaknesses and should stay away from their weaknesses until they are educated enough to handle them with the proper EQ attributes

Self-Management

Just like there is time management there is also self-management or what I would call self-check to make sure all your ‘T’ are crossed and ‘I’ dotted properly.

Awareness of Others

Leaders and workers need to be aware of others meaning; they should always be aware of others feelings in a business sense. Adding salt to a sore is the worst thing one could do within business. Having the wrong attitude in a business setting can cause conflict and tension. Your attitude determines your altitude. Insult to injury when working will not solve the business problem, but mollifying the problem through excellent group collaboration and group dynamics. Become the peacemaker for business sake!

Empathy

Empathy does not mean I feel your pain, but rather it states I do understand now how can the organization work in a unified manner to complete the job. Even when your co-worker makes a mistake their needs to be business empathy there, but also the understanding that thing will be rectified and task will be completed. Irene Becker the journal writer of ‘Smart and Fast Are Not Enough: The Need for Better EQ-The 3Q edge,’ stated “It’s the human ability to align instincts, emotions, and thoughts that gives you the capacity to increase your emotional intelligence. And it’s the ability to use the changes, challenges, and even crucibles you face to develop self-awareness that can help you lead better, communicate better, and succeed in your life and career” (2015).

Relationship Management

Your communiqué within your organization is also a top 10. Often times companies will participate in classes that teach employees the art of communication and collaboration properly. Keeping a healthy relationship with your management team is key to guarantee that all workers are on the same page. I always refer to the group, “Earth Wind and Fire” when it comes to excellent collaboration and how in sync they are as a team. Well the same should be within organizations. Teams and groups should be put together based off cohesiveness and even chemistry. In organizations instead of just firing of letting a star player go the PMS team should always find ways to remedy the pressure within the office “Leaders using EQ tend to encourage cooperation and collaboration in the workforce. They build meaningful connections with their subordinates, which often lead to better decisions and outcomes for their organization” (CSU Global, 2014).

Advantages and Disadvantages of the Plan

The advantages of the plan are:

· Excellent employee collaboration

· Teach self-discipline within the business where colleagues will have an understanding on how to control their emotions within business.

· How to collaborate successfully

· How to understand other co-workers needs and yours

· How not to be bias when making business decisions. Business is business and bringing the racisms and bias opinions into a business setting will make the business fail miserably.

Robert Wolf an author for the Harvard Business Review stated, “By acknowledging and shedding light on these sources of distortion we can strengthen the relevance and reliability of our decision-making strategies and assessment of potential risk manifesting from these decisions. We not only have to consider our own human biases, but also those of our audience, our team, and our competitors” (2012). Many of the advantages of the plan will create an overall atmosphere of success and interconnected workers.

The only downfall I can even forecast that would take place while trying to develop and implement the plan is the nay sayers or those workers that do not want to participate in a higher Emotional Intelligence plan for the betterment of the organization, team, and group of individuals. This attitude by employees should not be tolerated, but the needed classes to ensure success needs to be mandatory for all whom are employed.

Conclusion

Using the EQ system of Emotional Intelligence is something that major corporations along with small businesses need to participate in to help develop employees, create capital success, ensure a climate of unification amongst co-workers, and ensure that employees are mature within their emotional business mindset. Being able to employ these attributes will also bring companies into the millennium of showing workers how to be passionate about their work and others around you, and how not to disregard your co-workers talents of delivery and execution as a reliable part of the team.

References

Emotional Intelligence. (n.d.). Retrieved January 10, 2015, from http://www.psychologytoday.com/basics/emotional-intelligence

Hess, J. D., & Bacigalupo, A. C. (2011). Enhancing decisions and decision-making processes through the application of emotional intelligence skills. Management Decision, 49(5), 710-721. doi:http://dx.doi.org/10.1108/00251741111130805

How Emotions Fuel Good Decisions - HBR. (2007, December 3). Retrieved January 10, 2015, from https://hbr.org/2007/12/how-emotions-fuel-good-decisio/

Module 5: Interactive Lecture. (2015). In Module 5: Managing Biases and Emotional Influences in Decision Making. Greenwood Village, CO: CSU Global.

Smart and Fast Are Not Enough: The Need for Better EQ. (n.d.). Retrieved January 10, 2015, from http://justcoachit.com/blog/2011/08/10/smart-and-fast-are-not-enough-the-need-for- better- eq/Wolf,

R. (2012). Decision Making. In How to Minimize Your Biases When Making Decisions. Boston: Harvard Business Review.

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