Decision making can be risky. Everyone makes wrong decisions sometimes, regardless of their education and experience, because no one can completely and accurately predict the future.
Human nature is often the culprit. We want to believe everything will be fine; when it isn’t we may blame nature or others rather than realize that we need to improve our decision-making skills and risk assessment.
Decision making always involves uncertainty. The better we can deal with uncertainty, assess the likelihood of future events, and learn from past mistakes, the better decision makers we will be. Good managers know that they must consider both the present and the future, not sacrificing long-term welfare for short-term profits.