Saturday, March 21, 2015

The "5W+1H" Decision Making Scenario

Decision Power is a mind-power|.

Either at the individual level or corporate level, people have to make decisions, large or small even at daily basis. The precursor to 'What is the decision' is 'Why do we need a decision', which is preceded by the framing question 'What is the problem that we need to solve.' And then technically, HOW to make better decisions, Who are the effective decision makers? Which decision style do you have, WHERE is the decision point, and the big WHEN - Can you make the right decisions? So the issue is: decision power is a mind-power. How to improve it?

The big “WHY” as the framing question is in the rigorous pursuit of its answers: One has to realize context, motivation, structure, and longevity. No one word is more powerful than "WHY" in pursuit of vision and solution to the problems. The first prerequisite is to recognize our own frame of reference prior to making any decision. If we do not recognize the lens through which we make sense of the world around us, we are unknowingly captive to our own predispositions. Achieving this awareness through serious self-reflection frees us from our habituated 'scripts,' and allows us to see new possible options before decisions are made.

Decision Power is a mind-power: Nature offers countless choices during life struggle. A selection among multiple available choices is a decision. Human knowledge is imperfect about multiple choices and the related outcomes. The Knowledge constraint is a paramount issue during the decision process. But decisions are needed at every moment of life; it cannot be postponed till the availability of complete knowledge. The deficiency of knowledge is overcome through decision power. Decision Power is a mind-power; it guides what to select from available choices, how to accommodate constraints, how to avoid distractions, and where to show firmness and flexibility. Decision power is knowledge-based, wisdom-driven, and character-oriented. Intuition is a vital element of decision power. Intuition makes time-space limitations irrelevant and compensates knowledge deficiency. The issue of issues is, How to improve Decision Power?

“What is the Decision” must sit between thought and action: Once you set the root problem to be solved, then the answers to the other questions will come out as you go through the problem-solving process. Once you make a decision, then you must take action - or you really have accomplished nothing towards solving the challenge that faces you and your organization. So the further questions are needed to keep track of actions and results: ‘Who is to take action?' 'How will we know the action is completed?' and 'What is the consequence of not taking action’? And the proper set of metrics will help present the tangible results via action taken, also make it possible to improve the future decision making.

“How to make decision” becomes more transparent and scientific: It takes strategic thinking in making a strategic decision, compared to the reflexive thinking in some routinely transactional decision making. In an organizational context, people should understand how they create value, besides daily tasks they evolve, encouraging people to give feedback or even co-making strategic decisions will motivate many people and make them feel more engaged with their work. Although intuition always takes a significant role in decision making, nowadays, decision making is more science than art, and the full life cycle of corporate information management is to ensure that decisions have been made by the right people at the right time. The big “HOW” of decision making becomes more transparent, logical and scientific, or simply emerge as the decision science.

A decision is needed when there is uncertainty. And yes, emotions and intuition still matter, but by following the logical scenario discussed above, decision making is more science than art, analytics based than the gut feeling. Think fast and think slow. Decision power is a mind power.


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