The Complexity of Decision Making
Seven days a week and countless moments throughout each day, we find ourselves making decisions, some of which are pivotal to the health, safety and well-being of us, our families, friends, employers, employees, organizations and businesses. For instance, a sports aficionado choosing to stay up late to watch a football game can result in sleep deprivation, a lack of energy, motivation and patience to get tasks completed the next day. Every decision we make may negatively or positively affect us in all aspects of our lives whether personal or business.
“Most of us go about it the hard way, learning what not to do and creating wisdom going forward.” “Successful people, however, approach decisions differently; they have a methodical way of looking at choices.” ~ Mike Whitaker
As we know, some decisions are inconsequential, while others present greater risks. There are four things, also known as the H.I.V.E. that we should consider in order to categorize a decision as “good,” and not solely base it on the outcome(s) which can be so easy to do given the “hustle and bustle” of life.
1. Having a solid process in place
2. Identifying and exploring all viable options
3. Validating that key personnel is part of the decision-making process
4. Evidencing effective outcomes that are properly evaluated
First and foremost, having a solid process means that a criterion must be established to vet each decision. This includes but is not limited to the following: considering past and present experiences, getting other people’s perspectives, debating the advantages and disadvantages, testing options before rendering a final decision, and exercising your right to abolish a decision that is not beneficial for you and/or your business.
Secondly, identifying two to three viable options should be explored in all cases. Doing this allows you to adequately decide on the best option for your business. For example, based on the unfortunate circumstances of businesses being looted throughout the United States, certain businesses have boarded up their windows and doors and kept the same operating hours; however, other businesses have opted to reduce their operating hours and not secure their windows and doors, yet increase their security.
Arguably, businesses must always determine which staff are most suitable to make operational, financial or marketing/branding decisions that may impact the business. Is an executive staff person always the best staff to make these decisions, or should some things be voted on and decided by a committee? What if an executive staff person isn’t available and a decision must be made immediately? This is why businesses should have policies and procedures in place that clarify what actions should be followed to protect the business, staff and customers in unforeseen situations that may not be routine.
In order to ensure that sound decisions are made, we must take a moment to examine the entire process from start to finish and determine whether or not the evidence suggests that the best decision was made. What could be done better next time? What staff input is needed to improve business functions and operations?
You can greatly improve your decision making by applying the H.I.V.E. method and being disciplined in creating and revising your policies, procedures, and workflows. Please spend some time and read our other HIVE Connex blogs (access blogs by clicking here) that provide insight and informative content about: business planning, branding in the marketplace, public speaking, creating a social media presence, business communication practices, business ethics, how to generate profit margins, managing through unprecedented and challenging times, and finishing 2020 strong!
If you would like for HIVE Connex to support your business development or provide executive coaching and trainings, please do not hesitate to contact us at hiveconnex@gmail.com, or visit our website at www.hiveconnex.com. Additionally, feel free to contact us directly with any questions on this particular blog topic, or any of our other blog posts.
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