Making Effective Business Decisions
As pressure to make better data-driven business decisions increases and the amount of data available continues to grow, leaders need to be able to think strategically and use the right information and approach to make decisions and optimize outcomes. The challenge is that there are many factors that can negatively impact your ability to make good decisions. Knowing what data is most relevant and understanding how personal biases and tendencies can positively and negatively impact results is critical to success.
In this workshop, you will gain the insight you need to maximize your ability to think strategically and make better decisions. Learn how to apply practical tools and models to improve the outcomes of your decisions.
Leaders at all levelsï¿½vice presidents, directors, managers, and supervisors
Prework for this course should be completed one week in advance and brought to class.
Foundational people management is recommended but not required.
Though not a formal prerequisite, we strongly recommend students complete Active Leadership (8943).
- Strategic thinking, your thinking style, and your decision-making style
- Biases in strategic thinking and decision making
- Reaction to feedback about your decisions
- How to use data to make better decisions
- Tools to structure problems and make better decisions
- What is an Effective Business Decision?
- Common Biases in Decision Making
- The Analyze-Decide-Act (ADA) Framework
1. Analyzing the Situation
- Step 1: Define the Decision
- Step 2: Gather and Analyze Data
- Three Steps to Identifying the Right Data
- Turning Data into Insight
2. Decision Making
- Decision-Making Approaches and Styles
- The Decision Analysis Model
- Identifying Alternative Options
- Priority Matrix
3. Maximizing the Results
- Monitoring the Results
- Assessing the Impact of Your Decision
- Getting Feedback from Others
- Biases that Impact Reflection or Reactions to Feedback
4. Summary and Action Plan
- Perform Phase Overview
- Your Challenging Scenario Feedback and Reflection