How Clear Decision Making enhances organizational Performance — Read Below.
Ever heard about the term coin of realms? Yes. Decisions are that one big part of businesses. Be it any level, you need to get started & move ahead, That’s how you make the big leap!
Every achievement, every failure, every opportunity taken or dropped is a result of decisions made by someone. Understanding intuition, factors like risk, alternatives, certainty are the ground basics of decisions. Now the question is: Who are these decision-makers? The answer is people with the right balance of emotional intelligence, critical thinking, and analytical mindset. I’ll tell you an example, Remember while going through every job description, you see keywords like analytical and problem-solving approach, it’s because organizations want problem solvers and typically, these are the traits of ones.
In many organizations, decision-making gets stuck, delayed because of existing loopholes. This ambiguity causes loose change which puts performance at stake. Doesn’t matter how big the company is, how clever the strategies are If you cannot make well-analyzed decisions quickly, and effectively, your business will lose the battle.
Taking good decisions and executing them quickly are the traits of fast pace companies. On performing surveys from 30 employees of different global level companies, only 10% agreed about their companies help businesses to beat competitors. The question is, what sets these top performers apart? It’s the people who do the right thing at right time. Quality, speed, and execution are the added enhancing factors. Companies score well at strategic decisions which are reflected in marketing, sales, and hiring talent. But the bars are raised only when an organization learns to critically operate product innovation, research, continuous development, and management of stakeholders.
Three key ways to Improve Decision Making in Organisations.
- Think Probabilistically: Thinking is where it all begins. Research shows even basic training in probability makes humans better forecasters and helps them to avoid cognitive biases. If one is not good with probability, there is hardly any better investment for optimizing decision-making. You can start with this course to begin. It will help to support your expression of uncertainty and ability to think numerically.
- Get Others Perspective: It’s always good to communicate and learn from peers, seniors, or even juniors. Openmindedness for thoughts and perspectives allows us to understand the situation in a better way. Some organizations have many levels of hierarchy and It’s okay if you are an introvert, extrovert, or ambivert. Only one protocol needs to be followed in every situation. Communication. You work with humans, they get you.
- To be less certain: The first rule of decision-making is to be less certain- about everything, literally! Being confident is always appreciated but only where you are correct. It’s not necessary to be right always, it is possible to control your ego and maintain confidence till a healthy level. Being overconfident never values the organizational practices, sometimes situations happen and we need to revisit the logic of the decision taken. To avoid such conditions, one should learn the tactics of management.
With experiences, come the best learnings. Reasons, why I believe these are appropriate ways to overcome decision-making issues, are listed below.
- Numbers help you to learn and understand things faster. Fast process means it saves time and Time is money.
- The probabilistic approach helps to analyze risks. Risk analysis is one of the crucial elements of decision-making.
- Being open to perspectives gives you a broader way of thinking. It helps to enhance decision making, create and innovate products in a better way.
- It's great if you are an individual contributor but Mentorship at every level of decision-making is important and proves to be helpful in maximum cases.
- Ego is the killer, it drowns people. Ask questions when you feel stuck and solve problems.
These are the best ways to make decisions in a more impactful and enhanced manner. I would love to know your thoughts in the comment section. Also, give it a clap if you like this article.