Discover the steps for decision-making in your company and ensure sustainable growth
Every day, from the moment we wake up until we go to rest, we make decisions. What outfit will we wear? What do we want to consume? Or what route will we take to get around? These are questions we resolve in seconds or minutes, by making decisions.
The corporate world is also full of moments in which decision-making can change an organization’s course. A survey by the consultancy McKinsey Quarterly of 2,207 executives indicates that only 28% of the strategic decisions in their companies were successful, 60% said bad decisions were as frequent as good ones, and the remaining 12% said they were very successful decisions.
Sound decision-making can drive your company’s growth. Below are the essential steps to speed up this process:
1. An open attitude toward the unknown
Faced with an unknown or partially known situation, it is crucial to seek information, carry out a thorough analysis of the situation and evaluate its possible outcomes. This approach will let you see the future more clearly, despite the uncertainty.
2. Foster creativity
A dose of imagination can offer new approaches or alternatives for the most important decisions. For example, surprising your customers or implementing new work practices among your staff to keep them constantly motivated.
3. Manage the importance of decisions
It is essential to distinguish between situations that require your full attention and those that can be delegated. Strategic decisions should focus on creating innovative strategies that generate significant change in your brand or company.
4. Anticipate scenarios
Although no one has a crystal ball, it is beneficial to consider the possible consequences of decisions. Questions such as: What is the worst that can happen? Will it have a significant impact? Or what is the best possible outcome? are essential to clear up doubts and plan properly.
Decision-making is not an easy task, but by following these steps we can simplify both the trivial and the fundamental and urgent.
