Kent Paul Scarborough – Role of Decision-Making in Business

Kent Paul Scarborough – Role of DecisionMaking in Business

If you run any business then you’ve to make decisions. There are several types of decisions like detail decisions, big-picture decisions, easy decisions and tough decisions. Being indecisive is also a decision which shows a refusal to take any action. The importance of decision-making in business is good as wellreasoned decision’s steer the company’s performance towards success and any kind of bad judgment can sink the business.

Uncover the art of good decision making with Kent Paul Scarbo rough .

The Decision-Making Context Every business follows a decision-making process which is partly shaped by the environment. Macro context shows that decision will be made by the board of directors as per the business laws and regulations. Micro context decisions are taken in consultation with the employees and management hands down on them.

Micro context shows the immediate environment as the process changes depending on the meeting with any investor, employee or customer.

The Decision-Making Process The first step in decision making should be to recognize that a decision needs to be taken as companies never took a decision unless and until a problem comes up. Make sure to work proactively to identify any potential problems as that will enable to head off. After identification of the problem, slip in and out of various decision making roles as you work. Make sure to filter the information as each and every stakeholder thinks from their own perspective.

• List possible solutions-Kent Scarborough focuses to make a checklist of various possibilities. Afterwards, identify as which option looks best and which ones are acceptable and which one you don’t like to move ahead. Such decisions may be influenced by context because of the several regulations imposed that go against the microcontent of the organization.

• Identify the potential effects and the solutions-The decisions must be taken to improve the work culture and give a boost to morale of the employees. Weigh the facts and analyze as which option offers the best outcomes and is more likely to work. Create a plan as once you know the best option then as you have to find out the right path to reach there.

Ways of Deciding Any decision with bigger potential impact requires a better decision making process as you’ve to weigh the options and consider several systems. Consider each option as a branch of the tress with options coming out of the branch as possible outcomes. Analyze them as per the decision matrix. A decision matrix shows the various options and how they interact with various factors and different possibilities to come out with the best choice.

Data vs. Instinct Some of the tools can be used to ease the decision-making process such as cost-benefit analysis, DACI, statistics and number crunching.

Trust your instinct also to make a sound decision.

Impact of Wrong Decisions Some of the decisions also go wrong and such decision making will take you to a bad place. There are multiple reasons behind the failure. Rushing to make the decisions too quick under pressure or procrastinating on making the call. So, it is always better to wait until you collect all the information to be counter-productive. Smothering with overloaded information also makes it difficult as what is important and leads to wrong decisions.

When you will read exciting facts about Kent Paul Scarborough you should know that as decision plays an important role in any business, make sure to develop good decision making skills. Plan and hold organized meetings and bring everyone together for a formal and clear discussion as that will go a long way to improve the decision making process.

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