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Why

Decision-Making today builds on research showing that decisions fail half of the time. In business, the top casualties of a poor decision-making process are reputation, long-term growth, employee morale, productivity, revenue and profitability. Our goal is to promote more effective, ethical decision making.

Getting It Right

Winning Decisions“A good decision-making process will save time in the long run since you will make the right decision the first time.”

This is the rationale behind the book, “Winning Decisions” by J. Edward Russo and Paul J.H. Schoemaker. This is a great book to help people understand what they don’t know about decision-making. As the authors point out, there are three factors that determine outcomes including:

  1. Deciding (the thinking and decision process).
  2. Doing (implementation and other factors under your control).
  3. Chance (uncontrollable factors, luck).  

Clearly, we have no control over Chance. It is, what it is. Doing or executing is often tied to the deciding process and as stated in the book, “good decision-making is the key to good outcomes.”

While Paul Nutt’s book focused on twenty years of study that showed half of all decisions failed, Russo and Schoemaker show that decision-making is increasingly challenging. The following are their reasons why decision-making is even more complicated than during the time of Nutt’s study:

  1. Information overload.
  2. A galloping rate of change.
  3. Rising uncertainty.
  4. Few historical precedents.
  5. More frequent decisions.
  6. More important decisions.
  7. Conflicting goals.
  8. More opportunities for miscommunication
  9. Fewer opportunities to correct mistakes.

If you start with decisions that fail half of the time and then you complicate decision-making with increasing complexity, the only solution is to develop a process for decision-making and execution that minimizes possible errors and optimizes opportunities for success.

 

head-and-sholders  Robert Cannon

   With over 30 years of expertise in marketing, and leadership, Bob creates innovative systems, 
   products and services for small to mid-size manufacturers. Contact Bob today for more information 
   on the Cannon Advantage services and solutions.