background preloader

Effective Decision Making

Effective Decision Making
People often say that they find it hard to make decisions. Unfortunately we all have to make decisions all the time, ranging from trivial issues like what to have for lunch, right up to life-changing decisions like where and what to study, and who to marry. Some people put off making decisions by endlessly searching for more information or getting other people to offer their recommendations. Others resort to decision-making by taking a vote, sticking a pin in a list or tossing a coin. This page provides some ideas that are designed to help those who struggle to make decisions large or small. What is Decision Making? In its simplest sense, decision-making is the act of choosing between two or more courses of action. In the wider process of problem-solving, decision-making involves choosing between possible solutions to a problem. Intuition Intuition is using your ‘gut feeling’ about possible courses of action. Reasoning Reasoning is using the facts and figures in front of you to make decisions. Related:  value network

Action research and action learning for community and organisational change 10 tips for dealing with change in the workplace 10-megabyte hard disks... DOS... 5 1/4-inch floppy drives....The technology of the 1980s and 1990s bears almost no resemblance to what we have today. In the same way, our jobs and organizations probably bear little resemblance to that time. As I began to think about tips I could share on handling change, I realized that reactions to those changes mirror the reactions to the death of a loved one. Note: This information is also available as a PDF download. #1: Recognize that change does happen When we were children, as the saying goes, we thought, acted, and spoke like children. When I teach classes on customer service, I emphasize the importance of setting and managing the expectations of the customer. #2: Be aware of your surroundings In his classic work The Art of War, author and military strategist Sun Tzu wrote about the importance of observing signs of the enemy. #3: Recognize the stages All the stages don't necessarily occur. #4: Communicate with others #5: Do a self assessment

How Your State of Mind Affects Your Performance Don, a senior vice president for sales at a global manufacturing company, wakes up late, scrambles to get showered and dressed, has an argument with his teenage daughter over breakfast, then gets stuck in traffic on the way to work and realizes he will be late for his first meeting. Donna, a marketing executive, wakes at 6 for a quick spin on the exercise bike, takes a moment to stretch and relax, then quickly gets herself ready, dresses and feeds her two kids before walking them to the bus, then catches the train to the office. Which executive will have a more productive day at work? That depends on whether Don—who’s had the more difficult morning—is able to manage his state of mind. Two years ago our organization launched a long-term global research initiative to provide quantitative data on the topic. Below is a chart that lists the percentage of leaders who reported experiencing each of the 18 states of mind often or regularly: Thoughts and feelings. Physiology. External environment.

Importance of Professional Development in the Workplace This is an age of stiff and cut-throat competition. It is all about “Survival of the fittest”. In today’s job market, you are expected to upgrade yourself on a regular basis. You simply cannot afford to be stagnant in one place. Here comes the importance of professional development. Go through concept in detail and get inspired to develop yourself professionally. What is the Scope of Professional Development? It is through Professional development, you can achieve a better and successful career. In today’s market, dynamic and versatile individuals are the most preferred ones. Why is Professional Development Important for a Successful Career? In context with the modern day’s job market, the importance of professional development is immense. Opens up new opportunity: If you remain stagnant in one position for years, in terms of your professional skills, then you cannot avail the new opportunities which offer more lucrative packages. Professional Development before Employment: It is not easy!

The best visuals to explain the Singularity to senior executives Tomorrow morning I’m doing a presentation to the top executive team of a very large organization on the next 20 years. Most of what I will cover will be general societal, business and technological drivers as well as specific strategic issues driving their business. However as part of stretching their thinking I’ll also speak a about the Singularity. As such I’ve been trying to find one good image to introduce my explanation, however I haven’t been able to find one which is quite right for the purpose. Ray Kurzweil’s Six Epochs diagram below is great and the one I’ll probably end up using, however it is a bit too over-the-top for most senior executives. Source: Ray Kurzweil, Applied Abstractions The chart below from Hans Moravec showing how exponential growth of computing power will allow machines to match human intellectual capabilities is excellent, but it is seriously out of date. Source: Hans Moravec, When will computer hardware match the human brain? Source: Ray Kurzweil, Tropophilia

decision-making and problem-solving techniques, skills and methods decision-making process Define and clarify the issue - does it warrant action? If so, now? Is the matter urgent, important or both. See the Pareto Principle. Gather all the facts and understand their causes. Decision-making maxims will help to reinforce the above decision-making process whether related to problem-solving or not, for example: "We know what happens to people who stay in the middle of the road. "In any moment of decision the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing." There is often more than one good answers when you are faced with a complex decision. (More useful rules, acronyms and training ideas on the acronyms page.) 'pros and cons' and 'weighted' decision-making methods A simple process for decision-making is to compile a 'weighted' scored , of 'pros and cons' list. Pro means 'for', and con means 'against' - i.e., advantages and disadvantages. blank pros and cons decision-making template

Is your CEO worth his (her) pay? The Pricing and Valuing of Top Managers! It is true, as many others have pointed out, that CEO pay has been increasing at rates far higher than pay for those lower in the pay scale, for much of the last three decades. In the graph below, I look at the evolution of average CEO pay since 1992, broken down broadly by sector: Since 1992, the annual compounded increase in CEO pay of 7.64% has been higher than the growth in revenues, earnings or other profitability measures. Of all the drivers of CEO pay changes over time, none seems to be as powerful as stock market performance, as is clear in this graph going back further to 1965: While there has been much talk about the ratio of CEO pay to that of an average employee, and that ratio has indisputably jumped over the last three decades, I found t, for S&P 500 companies, using 2012-2014 data to be a more useful statistic. Determinants of CEO Pay Not only is CEO pay high, but it varies across time and across companies. A Framework for analyzing the value added by a CEO The End Game

Personal Goal Setting - How to Set SMART Goals - from Planning to Live Your Life Your Way Learn how to set effective personal goals. Many people feel as if they're adrift in the world. They work hard, but they don't seem to get anywhere worthwhile. A key reason that they feel this way is that they haven't spent enough time thinking about what they want from life, and haven't set themselves formal goals. After all, would you set out on a major journey with no real idea of your destination? Goal setting is a powerful process for thinking about your ideal future, and for motivating yourself to turn your vision of this future into reality. The process of setting goals helps you choose where you want to go in life. Why Set Goals? Top-level athletes, successful business-people and achievers in all fields all set goals. By setting sharp, clearly defined goals, you can measure and take pride in the achievement of those goals, and you'll see forward progress in what might previously have seemed a long pointless grind. Starting to Set Personal Goals Tip:

The CEDA Community model Pt.2: ‘Engagement’ & ‘Permission’ in Social Learning I’ve been developing the CEDA model this week, looking at how we develop vibrant Social Learning communities. It has two purposes: firstly, to be used in strategy, to help shape our organisational approach and, secondly, to diagnose the health of a functioning community, to understand what’s working and what may need support. There are four parts to the model (you can read all about it here), ‘Curation‘, ‘Engagement‘, ‘Debate‘ and ‘Application‘. Four things we need to consider. But there are another four parts of the model to consider: either amplifying or confounding factors. For ‘Curation‘, we look at ‘Technology‘. Over the next few days, we will explore the other factors: for ‘Debate‘, it’s about ‘Trust‘, do individuals believe that they will be treated fairly? These are by far not the only factors at play, but i wanted to gather together (curate) a structured framework that organisations can work around. In the second stage of the CEDA model we explore ‘engagement’ and ‘permission’.

Building Trust Inside Your Team - Management Skills From Creating a Strong, Cohesive Group © iStockphotoBorisJovanovic19 A strong, cohesive team can achieve anything. You may be deceived if you trust too much, but you will live in torment if you don't trust enough. – Frank Crane, American minister and author Have you ever managed people who didn't trust one another? If you have, then you'll know how challenging and draining this can be. A team without trust isn't really a team: it's just a group of individuals, working together, often making disappointing progress. However, when trust is in place, each individual in the team becomes stronger, because he or she is part of an effective, cohesive group. So how can you, as a leader, help your team build the trust that it needs to flourish? The Importance of Trust One definition describes trust as a "reliance on the character, ability, strength, or truth of someone or something." Think about that definition for a moment. Trust is essential to an effective team, because it provides a sense of safety. 1.