Crunch Time – Making Decisions

When times are uncertain, it’s harder to make decisions because accurate and complete information simply isn’t available.

Trends are unreliable and everyone becomes more cautious. Routine operations may be called into question, strategy that was solid six months ago has had its fundamental assumptions collapse, and normal operations have turned into a series of emergencies. Here are some guidelines.

What type of decision do you have to make?

• Routine: If this is normally a routine decision, and something you’ve decided before, what’s changed that makes you think your previous decision is no longer valid? Do the legwork to get to the bottom of your concern.
• Strategic: Is this a strategic decision? Does making the decision change your strategic plan or will it affect your business for two years or more?
• Emergency: Is this an emergency? Does the decision have to be made within a specific time frame or penalties or other unpleasant consequences will ensue? Does not deciding/not acting commit you to a course of action that you can’t change? Is it critical to the success of your business or the welfare of stakeholders?
• Operational: Does it affect operations and those carrying out operations?

Be systematic. Five questions to ask:

Are you addressing the right issues?

Do you have all the information you need?

Have you considered and compared alternatives?

Have you identified difficulties and checked feasibility?

Have you taken consequences into account?

Submitted by: Lynn Corrigan- based on material written by: Making Decisions by Robert Heller; DK Publishing, Inc.