Decision making is the arena across the art and science; gut feeling and data driven, confidence and humility.
Making a decision is one of the significant tasks for business leadership, however, the high ratio of strategic decisions have been made poorly and cause the catastrophic effect. How to avoid such decision pitfalls, to make effective decisions both strategically and tactically?
How to Achieve Decision Making Excellence? Making decision is one of the most significant tasks for leaders, managers and digital professionals today. There are strategic decisions, operational decisions, and tactical decisions. The reason decision making is often a difficult task because it is contextual and situational, it takes a unique individual to understand a situation and relate it to the present. There are many variables in complex decision making, there are tradeoffs you have to leverage, and there is no magic formula to follow. So what are some effective decision-making mentalities, which tools should you apply, and what processes are necessary to achieve decision making excellence?
Three Aspects in Making Effective Decisions At today’s digital new normal -uncertainty, complexity, velocity, and ambiguity, the capability to make effective decisions becomes a more crucial leadership competency. There is fuzziness in the decision because there is fuzziness in conflicting criteria. An effective decision can be defined as an action you take that is logically consistent with the alternative you perceive, the information you get and the preference you have.
“Digital Valley” Chapter IV Book Preview: Decision Wisdom The majority of leaders and professional spend a significant amount of time on making large or small decisions in the work and life. It takes wisdom, not just the intelligence to make effective decisions. There is fuzziness in the decisions because there is fuzziness in conflicting criteria. At the Digital Era, making data-based decisions means to leverage analytical thinking, advanced analytic tools, the human’s intuition, and add the “wisdom’ in the decision process to improve the overall effectiveness of decision making.
The CIO’s Digital Agenda XXXXX: Leveraging IT as a Business Decision Influencer: Fundamentally, the purpose of IT organization is to ensure the right information going to the right people at the right time and location in order to make the right decision. Indeed, IT is a key business decision influencer at information-explosion era, but more specifically, how does IT make an impact on the business decision, and how can IT improve business’s decision-making capabilities and effectiveness?
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