Wednesday, March 15, 2017

The Monthly “Decision Master” Book Tuning: Digital Decision-Making Pitfalls. Mar. 2017

There is fuzziness in the decision because there is fuzziness in conflicting criteria, and there are hidden barriers on the way.

Decision Masters refer to the digital leaders or professionals who can leverage multidimensional thought processes, information and intuition, take a step-wise scenario for making sound judgment or effective decisions consistently. Decision Masters also refer to the businesses or organizations that follow a set of well-defined principles, leverage fine-tuned decision processes, efficient information management system, decision frameworks, tools, and metrics to enable people across the organization making effective decisions collaboratively.

Digital Decision-Making Pitfalls

The New Book “Decision Master” Introduction Chapter IV: Decision Pitfalls? Making decisions is one of the significant tasks for digital leaders and professionals today. However, the high ratio of strategic decisions has been made poorly and even cause the catastrophic effect. What are key factors contributing to poor quality decision-making, where are the blind spots, and how to avoid potential decision-making pitfalls?

How to Overcome Decision Fatigues?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?

Three Effects, Three Decision-Making Pitfalls? The majority of leaders and professional spend a significant amount of time on making large or small decisions in the work and life. At today’s digital new normal with “VUCA” characteristics -Uncertainty, Complexity, Velocity, and Ambiguity, the capability to make effective decisions becomes a crucial leadership competency and professional capability. There is fuzziness in the decision because there is fuzziness in conflicting criteria, and there are hidden barriers on the way. Here are three effects which lead three potential pitfalls in decision-making?

How important is it to Identify Decision Bottlenecks? Either at the individual or corporate level, people have to make decisions, strategic or tactical, large or small even at daily basis. The business and the entire world become over-complex, hyper-competitive, unprecedented uncertain and ambiguous, what is the best scenario to make effective decisions, and how important is it to identify decision bottlenecks?.

Anti-Digital Mindset: Group Thinking and Abilene Paradox: Group Thinking or peer pressure is a term first used in 1972 by social psychologist Irving Janis that refers to a psychological phenomenon in which people strive for consensus within a group. In many cases, people will set aside their own personal beliefs or adopt the opinion of the rest of the group. In an Abilene paradox, a group of people collectively decide on a course of action that is counter to the preferences of many or all of the individuals in the group. You can see it at work when nobody wants to admit that the project is doomed, so they keep working on it, even though each person on the team knows it is futile. Why is it human nature to go along with what we believe the rest of the group wants to do without taking the time to actually check out if we are all taking a trip to Abilene?

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