Description
Book SynopsisDiscover the best approaches for making business decisions Today's business leaders have to face the facts you can't separate leadership from decision making. The importance of making decisions, no matter how big or small, cannot be overstated.
Table of ContentsIntroduction 1
About This Book 1
Foolish Assumptions 2
Icons Used in This Book 3
Beyond the Book 4
Where to Go from Here 4
Part I: Getting Started with Decision-Making 5
Chapter 1: Big-Picture Pressures on Decision-Makers 7
Making Decisions in an Ever-Changing World 7
The ground shifting beneath your feet 8
Assessing what these changes mean to you 11
Embracing Uncertainty and Unpredictability 12
Increase integrity and truth-telling 13
Notice what is happening on the innovative edges 13
Don’t limit planning to an annual task 14
Make your decision-making process values-based 14
Cultivate learning and curiosity 14
Invest in your personal and professional growth 15
Raising the Integrity and Ethics of Business Decisions 15
Overcoming factors that lead to unethical decisions 16
Designing a healthy decision-making environment 17
Chapter 2: The Key Ingredients for Effective Decisions 19
Distinguishing the Different Kinds of Decisions 19
Strategic decisions 20
Tactical decisions 21
Operational and frontline decisions 21
Identifying the Different Decision-Making Styles 21
Recognizing the Workplace Environment and Culture as a Force 23
Mapping your company on the innovation curve 23
Accounting for company organizational structures 25
Assessing the health of the workplace 30
Developing the Decision-Maker: To Grow or Not? 30
Knowing thyself 31
Avoiding temptations that obstruct sound decisions 31
Chapter 3: Company Culture and Decision-Making 33
Recognizing the Importance of Company Culture 34
Paying attention to invisible forces 34
Assessing your company’s mindset 36
Spotting addictions in company culture 37
Creating High Performance Workplaces for Decision-Making 38
Paying attention to long- and short-term focus 38
Using smart design to speed up decision-making 39
Paying attention to working relationships 42
Assessing Risk and Its Impact on Decision-Making 43
Understanding how humans perceive risk 43
Working with risk in a complex world 46
Part II: Knowing and Growing Yourself as a Decision-Maker 49
Chapter 4: Growing Your Business by Growing Yourself 51
Connecting Personal Growth to Effective Decision-Making 51
Exploring vulnerability as a leadership quality 53
Having compassion for the ego 54
Tapping into emotions for effective decision-making 55
Recognizing How Beliefs Influence Decision-Making 57
Examining your beliefs: Do they limit your options? 57
Understanding how you perceive insight, intuition, and vision 60
Acknowledging hidden bias or prejudice 60
Gauging Personal Comfort with Conflict and Ambiguity 62
Using conflict to your advantage 62
Understanding classic responses to conflict 64
Chapter 5: Raising Self- and Organizational Awareness for Better Decisions 67
Understanding How You Make Decisions 68
Instinctual decision-making 68
Subconscious decision-making 68
Belief-based decision-making 69
Values-based decision-making 70
Values-driven decision-making 70
Comprehending the Value of a Deeper Intelligence 71
The link between your heart and your head in decision-making 71
Putting this knowledge to work 72
Reducing Stress to Make Better Decisions 73
Manager, manage thyself 74
Managing the manager 75
Practical ways to reduce stress in working relationships 76
Chapter 6: Learning from Mistakes and Unintended Consequences 79
Engaging in Reflective Learning 79
Identifying blind spots in the decision-making process 80
Learning from decision errors and disasters 80
Turning Hindsight into Foresight 81
Monitoring implementation and assessing risk 81
Foreseeing inadvertent effects of a decision 83
Listening to feedback from key suppliers and customers 84
Implementing other’s ideas wisely 85
Stopping to see the big picture 86
Overcoming persistent problems with procurement 88
Building Character and Credibility through Mistakes and Failure 91
Accepting personal responsibility 91
Separating good judgment from judging others 91
Communicating authentically 92
Reinventing your self-identity 93
Part III: Jumping In: The How-to of Decision-Making 95
Chapter 7: Understanding Intuitive Decision-Making 97
Getting the Lowdown on Intuition 98
Defining intuition 98
Unraveling myth from fact 98
Knowing how intuition differs from impulse and fear 100
Understanding the benefits of intuitive decision-making in business 102
Understanding How Intuition Works 103
Processing incoming data 103
Forming patterns from cues 104
Building Up Your Intuitive Powers 105
Identifying your intuitive strengths – the mechanics 105
Improving your intuitive intelligence 108
Uncovering procedures that interfere with intuition 110
Removing the risk of overwhelm 110
Balancing the Rational with the Intuitive 111
Chapter 8: Laying the Groundwork for All Decisions 115
Reviewing the Essentials for Sound Decisions 115
Identifying purpose 116
Seeing ahead: Clarifying the endpoint 118
Determining timing: Why now? 120
Assessing commitment: Your own and your colleagues 124
Calculating the risk and impact of doing nothing 126
Deciding Who Decides 128
Factoring in management style and working environment 128
The buck stops where? Authority and responsibility 129
Investigating Decision-Making Models 130
Relaying top-down decisions: The command-and-control style 131
Using consensus 132
Building a Team for Participatory Decision-Making 134
Chapter 9: The Nitty-Gritty: Walking through the Decision-Making Process 135
Clarifying the Purpose of the Decision 135
Identifying the reason for the decision 136
Taking a tactical or strategic approach 136
Taking the Blinders Off: Eliciting All Relevant Info 137
Doing your research 137
Gaining some distance to stay objective 138
Paying attention to different perspectives 139
Separating fact from speculation 140
Including feelings as information 140
Knowing when you have enough 141
Sifting and Sorting Data: Analysis 142
Conducting your analysis 142
Critically evaluating your data 143
Making assumptions intentionally . . . or not 144
Establishing and weighing criteria 145
Avoiding analysis paralysis 148
Generating Options 150
Avoiding the one-option only trap 150
Broadening the option pool by tapping into others’ creativity 150
Vetting your top options 152
Assessing Immediate and Future Risk 153
Identifying risks 153
Considering people’s response to risk 154
Mapping the Consequences: Knowing Who Is Affected and How 156
Making the Decision 156
Communicating the Decision Effectively 157
Implementing the Decision 158
Putting together your action plan 159
Deciding what is important: Metrics 160
Setting priorities 162
Learning from the implementation process 162
Decision-Making on Auto-Pilot: Intuition in Action 164
Grasping intuitive decision-making 164
Taking a closer look at intuition in different situations 165
Chapter 10: Tackling Various Types of Business Decisions 167
Visionary Decisions: Getting a Grip on Direction and Focus 167
Strategic Decisions: Moving from Here to There 168
Making high-level strategic decisions 169
Applying strategic thinking to lower-level goals 170
Adjusting your strategy as necessary 172
Operational Decisions: Seeking Out Efficiencies 172
Going to frontline employees for ideas 172
Making operational decisions: Things to think about 174
Financial Decisions: Raising and Protecting Your Cash Cow 175
Securing financing 175
Sustaining cash flow 176
Avoiding the five most common financial errors 176
Problem-Solving Decisions: Getting to the Root of Issues 177
Uncovering and addressing the root cause 177
Tackling problems creatively 179
Making Partnership and Joint Venture Decisions 180
Determining whether to pursue a joint venture or partnership 180
Chapter 11: Exploring the Decision-Making Tool Kit 183
Adopting an Approach That Gets Engagement and Results 183
Differentiating between authority and power 184
Powering up a more engaged workforce 185
Engaging in Formal Decision-Making Methods 186
Using negotiation to make mutually acceptable decisions 186
Seeking consensus 187
Using Participatory Decision-Making Tools 189
The Gradients of Agreement tool 190
Dot voting to gauge opinion and progress 193
Visualizing consequences, relationships, and ideas: Mind mapping 196
Chapter 12: Strengthening Relationships with Employees and Customers 199
Improving Well-Being at Work 200
From happy employees to loyal customers: Creating a ripple effect 200
R.J. Allen Construction, an example 201
Recognizing the Consumer as a Change Agent 203
Keeping an eye out for trends 203
Chatting up consumers 204
Reconnecting Business to Customer Service 204
Bridging the gap to connect to your customers 205
Getting inside the customer’s head: Empathy mapping 206
Using social media to obtain feedback 208
Focusing on what’s important to the customer 209
Promoting Communication with Customers and Employees 210
Establishing intention and value 210
Calculating the benefits of communication 212
Setting goals for your interactions 213
Delving into Information-Gathering Methods 214
Tools and techniques for formal consultation 214
Establishing informal information-gathering channels 217
Part IV: Making Decisions in Various Roles 219
Chapter 13: Becoming a More Effective Decision-Maker 221
Upping Your Game: Transitioning from Area-Specific to Strategic Decisions 222
Highlighting strategic decisions 222
Avoiding the perils of micromanaging 225
Moving from specializing in one area to working across functions 228
Displaying Character through Decision-Making 230
Mirror, mirror, on the wall: Taking a close look at yourself 230
Using defining moments to build character 231
Handling yourself when things go wrong 232
Improving Your Decision-Making by Becoming a Better Leader 234
Differentiating between leadership and authority 234
Using your power for good 235
Being a leader good enough to ask the tough questions 235
Creating Safe and Stable Workplaces 236
Adapting your management style 237
Taking steps to improve the quality of the working environment 238
Being the leader you expect to see in others 240
Chapter 14: Making Decisions as a Manager 243
Recognizing the Changing Role of Manager 243
Embracing your role as change agent 244
Adapting your management style 246
Choosing Your Leadership and Management Styles 249
Looking at leadership styles 250
Using authority effectively: Different styles for different situations 251
Dealing with unmet expectations 253
Chapter 15: Making Decisions as an Entrepreneur or Small Business Owner 255
Knowing What Makes You Tick 256
Identifying your entrepreneurial qualities 256
Gaining clarity on your values and philosophical foundations 257
From Flying by the Seat of Your Pants to Putting Systems in Place 259
Moving from multitasking to building a team 260
Deciding how work gets done 261
Staying aware of your decision-making process 262
Taking Steps When the Thrill is Gone 264
Step 1: Figuring out what you want 264
Step 2: Ascertaining where your business is 265
Key questions when you still can’t decide 266
Part V: Applying Decision-Making Skills to Specific Challenges 267
Chapter 16: Using Change to Achieve Personal Fulfillment 269
Reinventing Yourself after a Setback 269
Changing your mindset after a setback 270
Taking the first steps to a new future 271
Gaining Clarity on Your Passion, Purpose, and Direction 272
Using a vision board to gain clarity 272
Testing your commitment to a decision: Visualization 275
Going my way? Choosing your path 275
Strengthening Your Resiliency 277
Assessing the state of your personal spirit 277
Viewing your whole life as a lesson in leadership 281
Chapter 17: Facilitating Participatory Decision-Making Meetings 283
Clarifying Your Role in a Meeting 283
Distinguishing among facilitating, moderating, and chairing 284
Letting go of attachment to a specific outcome 286
Meeting Preparation Basics 286
Establishing the purpose of the meeting 286
Identifying reasons to meet 287
Putting together a bare-bones plan 287
Choosing a formal or informal meeting structure 288
Putting Together a Meeting Plan for Complex or High-Stakes Decisions 289
Step 1: Stating the overall goal and metrics 289
Step 2: Putting together a framework for the meeting 290
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Step 3: Assigning tasks in preparation for the meeting 290
Step 4: Structuring the meeting with a meeting plan 291
Running a Productive Meeting 293
Getting on the same page with an overview 294
Keeping the meeting on track: Dealing with group dynamics 295
Tools to Help You Facilitate and Manage Meetings 299
Structured round table: A tool for gathering perspectives 300
Visual and group collaboration tools for meetings 300
Chapter 18: Making Decisions about Partnerships and Joint Ventures 305
Understanding the Different Partnership Structures 306
Looking at partnerships 306
Examining joint ventures 306
Determining Mutual Benefit 307
Thinking through partnership potential 308
Mapping out gains and value in joint ventures 309
Assessing the fit 312
Finalizing the Agreement 316
Communicating Productively during the Venture 317
Focusing on trust 317
Using conflict to advantage 319
Testing Trust, Courage, and Cooperation When the Going Gets Tough 320
Chapter 19: Setting Ethical Standards 321
Defining Business Ethics 321
Looking at ethics in business 322
Falling from grace: Unethical business practices 323
Understanding Pressures That Lead to Unethical Decisions 325
External pressures: The changing nature of business 326
Internal pressures: Working conditions and relationships 327
Eliminating conditions that lead to ethics breaches 328
Setting Formal and Informal Standards 330
Developing a formal code of ethics 330
Establishing an informal code 332
Common Concerns: Dealing with Supply Chains and Health and Safety 335
Reducing workplace hazards 336
Bringing the supply chain up to ethical standards 337
Part VI: The Part of Tens 339
Chapter 20: Ten Tips for Decision-Making in Uncertain Situations 341
Check Assumptions 341
Stretch Out of Your Comfort Zone 342
Ask Profound Questions 342
Learn from the Past 343
Listen Deeply 344
Shift Perspectives 344
Move From Inertia to Action 345
Pay Attention to What Your Heart Tells You 345
Embrace the Unpredictable 346
Work with Risk Differently 346
Chapter 21: Ten Ways to Improve Decision-Making 347
Find Your Inner Calm 347
Know When to Follow Plans and When to Co-create 348
Keep Your Mind Nimble 348
Focus on the Mission 349
Innovate through Disruption 349
Tap into Your Intuition 350
Learn from Mistakes 350
Keep an Open Mind 351
Balance the Intuitive with the Rational 351
Pay Attention to the Workplace 352
Chapter 22: Ten Secrets behind Ethical Decision-Making 353
Employees Feel Respected and Happy 353
Relationships Are Built on Trust 354
The Focus Is on Collective Achievement 354
The Right Things are Rewarded 355
Minimum Compliance Isn’t Enough 355
Good Character is Important 355
Everyone Leads 356
Principles and Values Guide Action 356
Attention Is Given to Workplace Culture 357
Trust Is the Underlying Value 357
Index 359
