Good decision-making is a choice between different actions, including the option of doing nothing, says Normand St. Pierre, professor of decision-support systems at The Ohio State University.

Over the years, Mr. St. Pierre has outlined five criteria that he believes exemplify the characteristics of an excellent decision-maker:

  • Knows when to make a decision.
  • Knows when there is sufficient information to make a decision.
  • Understands that a good decision does not always guarantee a good outcome.
  • Makes decisions with favorable outcomes more frequently than not.
  • Knows the difference between a trivial decision and an important one.