Procrastination in decision making and its possible effects on potential profits

The objective of this study is to examine the effects of procrastination in decision making on potential profits. In addition, this study also examines the causes of procrastination in decision making. The current study is purely a theoretical analysis where multiple regression model is employed. In addition, partial derivative techniques have been applied for evaluating the effects of each of the explanatory variables individually. The findings suggest that procrastination in the decision making results from delaying decisions, laziness and having no active plans for the individual or for the firm or for the state, lack of future vision or no future strategy, lack of coordination with the employees and other stakeholders, lack of decision-making skills, knowledge and expertise, lack of understanding about the market and lack of improving the quality of the product accordingly, all of which contribute to the decrease in profits. This is perhaps one of the latest attempts to model the role of procrastination in decision making and its effects on potential profits. This study will be useful to policy makers, decision makers, research scholars, and academicians across the globe.