Good decision-making skills are imperative to business success. On the other hand, hastily made or poorly informed choices can be devastating. That’s why we focus on making decisions as we complete the Pure Octane training program. We learn to identify the issue, gather relevant details, identify all options, assess evidence, make the choice, take action, and review outcomes.
Although we always stick to these basic principles, we explore all sorts of tools and techniques for applying them. For instance, the decision matrix is a Pure Octane favorite. It involves us creating a table, and in one of the columns we list our options. In the first row, we record the factors that influence each alternative. Then we score options and factors to determine which are most favorable.
There’s also the T-chart, which is a system of using plus and minus symbols. It helps us consider all pros and cons of a particular option before making choices. The decision tree is a similar model, but it incorporates statistical data as well. When many of us are involved in a decision (which is usually the case), we all vote out options. This way, we whittle down the possibilities until the most preferred is left.
Any of these options, or a combination of them, may provide you with the structure needed to make sound decisions as a business leader. Like Pure Octane on [Facebook] to learn more.