Sunday, November 13, 2016

How to Overcome Decision Fatigues

Decision fatigues can be overcome via identifying blind spots, pulling all resources, complementing the knowledge and filling insight gaps.

One significant effect of digitization is increased velocity, complexity, unpredictability, and ambiguity. Therefore, there is a need for a faster response to changes in business and industry based on effective and efficient decision making. In fact, decision-making is one of the most important activities for today’s digital leaders and professionals. Often people rush up to make so-so decisions or are too procrastinated to make timely decisions. Statistically, the high ratio of strategic decisions has been made poorly and cause the catastrophic effect. What are the root causes of those decision failures, and how to survive from decision fatigue and improve overall business decision effectiveness?

Cognitive blind spots: Due to the complexity of business problems today, collective decision making is a common practice in organizations today. To avoid cognitive blind spots, it’s best to bring a group of people together with the cognitive difference such as different backgrounds, capabilities, strengths etc, together in order to obtain such a way of divergent thinking for sparking creativity; convergent thinking for common understanding and critical thinking for identifying blind spots. It’s best for thinking in a multidimensional way to really hone in on the "why." Once you figure out what the true problems are, apply systems thinking for solving complex problems with creativity and flexibility. Because people who can see the bigger picture, abstract the insight from the overloading information, leverage the multitude of thought processes, and are not living the day-to-day activities, are needed to clear blind spots. Be consciously identify your decision blind spots by seeing around the corner and looking beneath the surface, listening, asking questions and pursue collective wisdom.

Silo thinking: In today's volatile economy, nothing impedes progress or causes decision fatigue more than protective silos which are simply a form of bureaucratic amorphous mass designed to preserve the status quo. “Silo” is due to a lack of sufficient resources or small thinking, most business managers and teams operate with an incomplete and relatively small view of the business ecosystem when they keep moving forward, they create the blind spots, or jump to the wrong conclusions. The managers today, especially senior leaders should have the ability to see the big picture, to complement the team’s viewpoint for bridging gaps and overcoming decision fatigue. Also, it's important to encourage teams to "think in bigger boxes," engage all employees in improving their processes, and create the expectation that collaboration and mutual respect are valued above everything else.

Unconscious bias: We all have the bias, especially unconscious bias, more or less, due to the cognitive difference, limited knowledge, and experience. It is one of the biggest barriers to improving decision maturity. From a business management perspective, the variation in decisions to be made vary tremendously across the developmental spectrum. Timelines and content play havoc with decisions to be made. Both intuition and analysis have the role in decision making. Check if there is a link between ‘bias’ and ‘perception’ in terms of how we make decisions and build trust. A great way to manage bias is to simply get it out in the open communication environment. In a collaborative decision atmosphere, let individuals embrace their bias by sharing it with others in a non-threatening context. This can help to enable the "wisdom of crowds" as a source of improved decision-making effectiveness and maturity.

Decision fatigues can be overcome via identifying blind spots, pulling all resources, complementing the knowledge and filling insight gaps. The digital decision-making style is to think fast and slow, think independently and critically, leverage multiple perspectives; analyze and synthesize for making the right decisions at the right time by the right people to solve the right problems.




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