Tuesday, April 2, 2019

Strategic Decision-Making Part 3

Barriers to good decision-making include: 
  • Jumping into the decision
    • Fix: Stop and frame the decision   Think about what is involved.
  • Shortsighted shortcuts
    • Fix: Don’t rely on rules of thumb that anchor your thinking and decision-making.
  • Shooting from the hip
    • Fix: Follow a systematic process.
  • Lack of frame control
    • Fix: Do not be unduly influenced by others; consciously define your own frame.
  • Frame blindness
    • Fix: Frame the problem correctly to ensure that your mental framework is not causing you to overlook issues.
  • Ignoring feedback
    • Fix: Actively seek and analyze feedback on past experiences in reality, not ego.
  • Group failure
    • Fix: Do not assume that a group of good people will always make a good decision; follow the process.
  • Over-confidence in your judgment
    • Fix: Collect information, analyze it, and ask questions
  • Not Keeping Track
    • Fix: Log and analyze all results from decisions taken, and learn from the experience to improve future decision-making
  • Failure to audit the decision-making process
    • Fix: Create an organized approach that allows mistakes to be highlighted and improvements to be evaluated consistently.

Remember that decision-making is a process that can be developed and learned.  Techniques are available and can be used qualitatively or quantitatively.  Barriers can block effective decisions.

No comments: