Decision-making is what leaders and managers do in the business everyday. Good decisions help the organisations become successful. In the information age, despite all the resources and information available to managers, they often make poor decisions.
There are many reasons why bad decisions are made. Managers think of major decisions as choices they must make. The thinking is ‘great men make great decisions’. In making their choices, they rely on their experience, preferences and judgement. While these are necessary, they are not enough to make sure that good decisions are made time and again. There are many ‘decision traps’ that managers fall into. To avoid these traps, one needs to treat decision-making as a process and not just a choice. Like all work, when there are right people, tools and processes are brought to bear, the results can be consistently good. Continue reading “On Making Good Decisions”