Deciding is a central requirement for leaders. The fear of making the wrong decision can prevent or delay important actions. Decision-making therefore means real responsibility. But not all decisions are the same - the range of decisions extends from quick operational decisions, for example in a crisis, to major strategic decisions. Because these decisions take place in very different contexts, they require different approaches and have different processes. How a decision is reached has a significant impact on its successful implementation. Understanding this is half the battle. This episode addresses the following questions:
What does decision-making mean in a corporate context? Why is it different from private decisions?
Is decision-making an innate talent or can it be learned? How do good decisions come about?
What techniques and tools can help in decision making? Should you trust your intuition?
For those who would like to delve further into this topic, here are some recommended readings:
Othmar Sutrich/Bernd Opp: Wie Organisationen gut entscheiden: Innovative Werkzeuge für Führungskräfte, Project Managers, Teams, and Companies (Haufe Verlag). A comprehensive, scientifically-based guide book (only in German).
Hinnen & Hinnen: Reframe it! 42 Tools and a Model to Master Complexity (Murmann Publishers). The book is not directly related to decision making, but shows how reframing can make complex issues better comprehensible and thus easier to decide.
Annie Duke: Thinking in bets. Making smarter decisions when you don't have all the facts. Another somewhat unusual and interesting approach to decision-making. Annie Duke was a professional poker player and advises companies on decision-making processes.
You can find a wealth of literature (relevant articles and books) also on the Harvard Business Review website.
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Tags: decision making, decision process, decision culture, leadership, management, coaching