Is decision making important for business? The answer seems pretty obvious. When I asked this question to several business leaders, I was surprised with the intensity of their responses. According to them, decision making is the most crucial component of business despite not getting the attention that it deserves.
Organizations pay their decision makers 300 times more than they pay an average employee. Yet, there are very few business schools that teach decision making as a subject. Businesses struggle to develop decision-making skills among their leaders and managers. This book is written keeping you in mind as a decision maker or a potential decision maker. The book addresses the fundamental questions and the practical problems of organization decision making. I have used lessons from decades of my experience backed by solid research. Some salient features of the book are as follows:
Focuses on improving your decision effectiveness. This book will give you insights on diagnosing situations using a mix of the decision models (like rational, intuitive, program, incremental, political, and garbage can models). If you’re a manager or leader struggling to find the method behind the madness of running a team in a corporation with multiple moving parts, this book will try to elucidate the many ways to make decisions that make sense.
Guides you to be a holistic decision maker by appreciating key decision elements like trust, ethics, creativity, diversity, inclusion and work life balance. It also discusses how to recognize and manage cognitive biases including unintelligent passion, sunk cost fallacy, comfort zone bias, authority bias, conformity bias, groupthink, indecision, and many more.
Gives practical tips to implement decisions. Ohio State University researchers claim that about 50% of business decisions end up in failure. The book gives you practical tips to implement decisions using proper decision execution planning and a perfect execution model. It elaborates the best practices in change management and communication. The book also suggests a decision evaluation model in which you know how your decisions are performing beforehand rather than doing a postmortem on a failure later.
Interspersed with real life stories. The book is written in simple language, with examples and stories from more than 160 great industry leaders and organizations that emphasize various aspects of decision making without making them complicated.
Helps you advance in your career. Research has proven that the decision making styles required at different levels in the organization are different. A lot of managers struggle to advance in their career due to lack of guidance on adjusting their decision making styles. After going through the different styles of decision making and the advantages and disadvantages, you will be able to decide your own decision making style to advance in your careers.
The next generation of businesses are desperately looking for better decision makers to compete in the fierce, volatile, uncertain, complex, and ambiguous world. The bright side is that if you’re reading this, you’re probably already ahead of the game. This book is a guide for business leaders in creating better decision making environments and organization wide decision making skills, things that cause both the success of a company, and the success of the individual (i.e you!).