DecisionMaking

Decision Management – Is knowing that you’re right or wrong enough?

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No. 3 in the Getting Started series.
This article is a transcript (with slides) of the video.

If you’re a manager or executive then you earn your paycheck by making decisions. Most of us believe we’re good, if not excellent, decision makers. We base this assessment on several things, most of which equate to some measure of how often we’re right vs. wrong. Today I want to show you a different way of looking at decisions, one that I believe can help you assess what’s going on in your business.

Understanding Decisions intro slideDecision making is an important part of Competitive Thinking, and over time we will look at them from several different perspectives. Today I’d like to show you a framework that breaks business decisions into four major types and illustrates why they are important. I believe you can use this model to assess your decision-making and gain some valuable insight into what’s happening in your business.

Before we start keep in mind that this framework applies equally from line managers all the way up to senior executives. The details and scope of decisions may vary, but the underlying structure is the same.Read More »Decision Management – Is knowing that you’re right or wrong enough?