We make many decisions every single day, and for the most part, we barely think about what we do – more coffee? Go for a walk? What shall I do next? The problem is that when it comes to more complex questions, we may be inclined to quickly opt for what looks right, to go with our instincts.
Pause For Thought:
At present most organisations have to make decisions that require serious deliberation. So how do you make good decisions?
Assuming you have some time, you could:
- Gather good quality information around the issue
- Decide which are the most important factors
- Consider the pros and cons of each option
- Select the option that addresses the important factors while minimising the cons.
Comparing Apples and Pears:
I know someone who makes important decisions by creating a spreadsheet. All the important factors such as price, quality, reputation of supplier, etc. are listed along the top. Potential suppliers are listed down the side, and each factor is rated. She often finds that there is no perfect solution, but by being able to view things in a fairly objective way, she is confident of making good decisions.
Such a method isn’t going to work for all situations, particularly where there are a lot of unknowns. This is where logical decision-making falls down, it can’t account for unknowns and the unforeseeable, such as a pandemic.
If you can’t base a decision on good quality information, logically applied, then it makes sense to seek guidance from someone who has had to make decisions where there was no obvious solution.
Lacking a business mentor, it’s possible to find guidance in the many business books that are published every year. The barriers are deciding which book has the information you need, and finding the time to read and digest it’s information.
Our library of summarised business books is available on desktop or mobile devices via 4 or 8 page PDFs, or 20-minute audio files. The best business books are aligned with core topics such as leadership; management; sales; marketing, and many more.