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.

Strategic Decision-Making Part 2

The outcome of the process should be a solution that allows the organization to succeed.

There are six criteria for an effective decision-making process:

• The focus is on what is important
• The process is logical and consistent
• It accounts for objective and subjective factors and uses both analytical and intuitive thinking
• It requires only as much information as is necessary to make the decision
• It encourages and guides information-gathering
• It is straightforward, flexible, and user-friendly

There are 8 elements involved in making a smart decision:

• Identifying the problem
• Identifying the objectives
• Identifying the alternatives
• Identifying the consequences
• Identifying the tradeoffs
• Working in the context of uncertainty
• Working in the context of risk tolerance
• Working in the context of linked decisions
• The Meta-Decision:
• understanding the problem
• identifying the basic nature of the decision to be made
• deciding which process will be used

There are 4 basic components that form the overall decision-making process: 

• Framing
• Realizing and understanding the boundaries that are set on the problem
• Defining reference points to gauge success or failure of the decision
• Defining the metrics for the process
• Gathering intelligence
• Coming to conclusions
• Learning from feedback 

Until next time...
 




Sheryl Tuchman, SPHR, SHRM-SCP
http://tools2succeed.com/

Strategic Decision-Making Part 1

Making a decision is selecting between two or more available options.  Decisions made in the organization can potentially impact all levels - strategic, tactical and operational.  Decisions are made on a continuous basis in the organization, and a review of decisions is not always part of the process.  Training on decision-making is often made available only to a restricted audience.  The ability to make and implement effective decisions is a business-critical skill as it can have a significant impact - either positive or negative - on the organization.

There are several fundamental assumptions associated with making decisions:   

• Making decisions is a life skill.
• Effective decision-making can be viewed as a process.
• This process can be learned and applied.  

The decision-making process takes into account:  

• Context
• Information
• People involved
• Techniques
• Solution choices and consequences

Until next time...

 




Sheryl Tuchman, SPHR, SHRM-SCP
http://tools2succeed.com/

Mentoring in the Workplace Part 1

Mentoring is a strategic approach to developing an employee (the mentoree) by pairing him/her with a more experienced employee (the mentor) who will teach, counsel, sponsor and encourage.

Conditions of Formal Mentoring 

• Goals established
• Outcomes measured
• Access open to all who qualify
• Mentors / Mentorees are paired
• Training and support is provided
• Mentoring time is limited
• Organization benefits directly   

Benefits of Formal Mentoring

• Links competency development and business strategy
• Ensures that skills are developed
• Involves company experts in the process
• Creates and promotes a learning and diverse culture
• Ensures that organization’s goals are supported

Until next time...






Sheryl Tuchman, SPHR, SHRM-SCP
http://tools2succeed.com/

Market-Driven Strategy

Although some industries are more stable than others, the organizations that flourish in the long-run are those who engage in continual strategic renewal.

Most businesses are internally driven, which means their strategy is driven by what they have done in the past.  The weakness is not anticipating changes in the marketplace and therefore failing to be adaptive and innovative.  Organizations that are customer-driven try to develop a strategy by "being close" and "listening" to the customer.  The consequence of trying to be too customer-driven is trying to be "all things to all people." 

Organizations that are market-driven make conscious choices about which markets they will serve and how they will add value to their customers.  They seek to differentiate themselves from their competitors by identifying the specific benefits they will or will not provide, and they organize around the delivery of these benefits.

A market-driven strategy is not the same as asking customers for their input and feedback.  It is based on making decisions about how the organization wants to compete.

We believe that it is through a market-driven strategy that you will best compete in the present and plan for your future.

Until next time...







Sheryl Tuchman, SPHR, SHRM-SCP
http://tools2succeed.com/