A wrong decision can compromise the success of a business. It is vital that managers have all the tools they need to make informed and right decisions. The market is increasingly competitive and consumers are becoming more demanding and these two factors make it difficult to make the right decision. In today’s article, we will realize how we can simplify decision making in companies!
Correctly identify the problem that needs to be resolved
Decision making, in most situations, is aimed at solving a business problem. Thus, in order for the best decision to be made, it is necessary to identify its origin and list all possible solutions. This step seems basic but is one of the most important and one of the most underestimated. Deep analysis of the situation will give us the data we need to know which path to choose.
Real-time monitoring software
It is very important to have a real-time business monitoring system that allows you to set business alerts so that you are advised whenever any important situation requires immediate intervention. Multipeers is a BAM system that allows you to define business alerts that warn you whenever a situation requires your attention. In this way, you will always be aware of the events of your business and will be able to decide in good time. Many of the decisions are made based on reports a few days late, which makes the company have a reactive and non-proactive action. With Multipeers you will be able to always be ahead of the competition and decide the best way possible for the business.
Define KPIs (and monitor them)
The KPIs is related to the previous point. A KPI – performance indicator – is a value that demonstrates whether the company is achieving its key objectives and whether it is on track. The company must have well-defined general KPIs. Likewise, each department and employee must know their KPIs so that they can work towards their goals and help the company grow. “If we do not know where we are going any way”: it is essential that each employee knows his role in the company so that he can guide his daily work in order to achieve all his goals.
Evaluate all options and ask your team to collaborate
Before making a decision, the manager must identify and analyze in detail all available alternatives. The same problem can have several solutions and the manager should rely on the help of his team to choose the best way forward. In this way, not only does the company win, everyone’s opinion will certainly be better than that of a single person, as employees will feel more motivated because they feel that they are an integral part of the process.