Other organizations in the U.S., Canada, Europe and Australia that issue prostate cancer screening guidelines have also issued statements calling for informed or shared decision making.

CNN: Screening for prostate cancer? Patients should decide

Even when critical decision making documents (tax returns, paystubs, bank statements), are secured early in the game, there is one significant asterisk that prevents mortgage pre-approval from being what everybody wants it to be.

FORBES: The Mortgage Pre-Approval Con

Even when critical decision making documents (tax returns, paystubs, bank statements), are secured early in the game, there is one significant asterisk that prevents mortgage pre-approval from being what everybody wants it to be, and here is where the con comes in.

FORBES: Why Getting Pre-Approved For A Mortgage Is A Sham

Around age 10, parents might let children know they have modest custodial accounts in their names, show them the statements and get them involved with the investment decision-making process, says Thomas Henske, partner at Lenox Advisors Inc. in New York.

WSJ: Telling Kids How Much They Will Inherit Can Be Tricky for Parents

Just as organizations need mission statements to spell out their overall goals and guide their decision-making, so too do individuals.

FORBES: The Seven Habits of Highly Effective Changemakers

Obama, who's been called naive for some of his recent foreign policy statements, said a lengthy tenure in Washington is no guarantee of good decision-making.

NPR: Democratic Presidential Hopefuls Debate in Iowa