In Leadership Competencies
Improving The Decision Making Process

Improving The Decision Making Process

Now that we’ve covered visioning and innovative thinking, futuristic thinking, planning skills, and specifics of analytical and critical thinking skills, hopefully you’ve developed or are developing strategic plans for the upcoming year. Now, it’s time to decide which plan has the biggest impact on your business.

Decision Making

Decision making is something that happens every day no matter if you’re a business owner, leader, or employee. Being the leader, you are accustomed to making tough decisions. Making the decision to implement new strategies, ideally is done using diligent research and thought, with the company’s short and long term goals in mind.

Here are a few tips to help you fortify your decision-making process:

  • Practice self-care- As a leader, thinking through important decisions requires you to be well rested, clear-headed, and have the energy and motivation to dedicate to this important task.
  • Take your time- Making sound decision requires thinking clearly and logically, which takes time.  When you are in a rush to make important decisions, you may jump to quick conclusions that can be filled with biases, rather than carefully thinking through the facts and information.
  • Seek Different Perspectives- Often leaders become so entrenched in a situation they develop tunnel vision. Reviewing your business strategy with those closest to you, such as your employees, your peers and your leader makes good business sense. Also, if possible seek 3rd party expertise and input. Perhaps this is an industry expert or someone in your own personal network.
  • Practice Openness–  When making important decisions, it is helpful to stay open to the facts and potential outcomes. Even those outcomes you don’t want or like. This mindset can help you avoid making decision that “feel” good in the moment but don’t have the longer lasting impact you desire to have.
  • Double Check- Make sure your plan isn’t a band-aid. It should be a holistic solution that gets to the root of business issues. Make sure the data you use to develop your plan is accurate. If it is, then consider if the data sufficiently supports your plan. Lastly, ask yourself if the plan reflects the mission and core values of your business.

The decision to move forward with your strategic plan needs to consider every aspect of your business. Next, consider if the decision is made with the right people, accomplishes the right goals, and has an effective method of measuring and monitoring the results. If you’d like to discuss ways to strengthen the decision-making process in your business, contact me.

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