3 Cardinal Sins Creating Bad Business Decisions
Making decisions is probably the most important factor that separates managers from more junior staff: careers are made, and broken, by the individual manager’s ability to make sound, reasoned and most importantly, correct decisions over a long period of time.
Nobody, however skilled they might be, can make the right decisions all of the time. Failure is something that we have to deal with and hopefully learn from.
There are three deadly blunders all managers are juggling with every day – by seeing them for what they are you should be able to use this knowledge to make better decisions.
- An unnatural sense of speed and rush to make the decision in the first place: seeing a problem and using the first solution that presents itself, rather than taking the time to consider alternatives and make a better quality decision. Always remember that problems and solutions never come as pairs and the threat posed by an unsolved problem or issue always makes managers nervous, hence the drive to implement a solution. The wrong solution!
- Poor use of resources: having a focus on the wrong issues or problems, especially where a hasty solution has been implemented and then we try to justify it by expensive evaluation or proofing. To avoid this look carefully into gathering as much intelligence as possible, who might block your approaches, who has a vested interest in the status quo and setting firm expectations about what is going to happen in terms of results.
- Poor use of managerial tactics: too often decisions are made without getting the participation and commitment of others who should be involved in finding the best solution, overt use of individual power to steamroller a decision through and just expecting everyone to follow blindly the decision that someone else has made.
Review carefully the steps you take when making decisions to avoid the cardinal sins above – better decisions mean better outcomes for you, your career and your organisation.
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