Leaders are under constant pressure to make decisions quickly and efficiently in today's constantly changing environment. However, with the ever-changing landscape in technology, innovation, and new business models, it is becoming increasingly difficult to always make the right decisions. Leaders need to be able to take into account all of the factors that go into making a decision and execute it rapidly.
There are a few things that leaders can do to make better decisions.
Choose a process and style that fits the situation
Leaders need to be aware of their own decision-making style and how it might fit (or not fit) the situation at hand. Some decision-making processes are more effective than others in certain situations.
For example, a leader who generally relies on logic and reason may find that a more intuitive, creative approach is needed in a particular situation.
Get input from others
Leaders should seek input from others, especially subject matter experts when making decisions. This can help them identify potential problems and obtain a variety of perspectives on the issue.
Consider the consequences
Leaders need to think about the potential consequences of their decisions before they make them. They should ask themselves what could go wrong and what the impact of their decision could be.
Be prepared to defend your decision
Leaders should be prepared to defend their decisions to others. Communicating the reasons behind the decision is imperative for sustaining an aligned vision and purpose.
Set a deadline
Leaders should set a deadline for when they want their decision to be implemented. This will help ensure the decision is reviewed against competing priorities and given the appropriate attention for implementation.
Leaders should be transparent with their team so everyone knows what is happening and why. This builds trust in the decision-making process.
Be open to feedback
Leaders should be open to feedback with their decision-making process so that they can continually improve it, especially in a constantly changing landscape. This ensures that their decision-making is always in the best interest for the organisation and its people.
Determine the worst-case scenario
Leaders should always be prepared for the worst-case scenario when making decisions and for any potential challenges that may arise, including a plan to mitigate them.
Follow your guiding values
All leaders should have a set of guiding principles when making decisions. These values should be based on the company’s mission, vision, and objectives. These principles should be used to review all decisions made by the leaders in the organisation.
Make a decision matrix
When faced with a difficult decision, it can be helpful to create a decision matrix to help organise the information and make the decision-making process more systematic.
Leaders need to make sure that they are taking the time to make thoughtful decisions with all the facts. They need to consider all of the options and make sure that they have their employee’s needs at the heart of everything they do. Leaders also need to be open to feedback and willing to change direction if they are presented with new information.
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