What is the definition of a good business decision? What is the definition of a bad business decision? I recently found myself thinking about these two questions and decided to put my thoughts down on paper.

A business decision often surfaces as a result of actions taken that stem from input—input from an outside source. In other words, something beyond your immediate control enters the picture, and you are faced with several viable options. Selecting the appropriate response often defines a stressful decision. What to do? Should you do anything at all? What if you make a judgment error? Time is running out. Pull the trigger. Make a decision.