Decisions, decisions and more decisions! Every day managers face the challenge of making decisions that can dramatically change the course of a business. Making the right decision is a complicated task because we don’t always have the data we need to make a conscious decision. At a time when data is growing in numbers in organizations, it is very difficult to extract useful insights that help us choose the best course. In today’s article, we’ll see how you can optimize decision making in your business in 5 steps!
Correctly identify the problem that needs solving
Decision making, in most situations, aims to solve a business problem. Thus, for the best decision to be made it is necessary to identify its origin and list all possible solutions. This step seems basic but it is one of the most important and one of the most underrated. In-depth analysis of the situation will give us the data we need to know which path to choose. An improper decision can compromise business continuity.
Accept that there is not just one right answer
The choice that seems to be the ideal today may not be the most appropriate tomorrow. When it comes to deciding in business there is not just one right answer and decisions have to be made with the current business context in mind. The manager should place all possible answers on the table and analyze the pros and cons, taking into account that there may be more than one right answer for the same situation. And we advise that the decision be taken as a team, as this will involve your employees and this increases people’s motivation.
Use real-time monitoring software
It is very important to have a real-time business monitoring system that allows you to set business alerts to be alerted whenever an important situation requires immediate intervention. Multipeers is a BAM system that allows you to set business alerts that warn you whenever a situation requires your attention. This way you will always be aware of your business events and will be able to decide in good time. Many decisions are made based on reports that are a few days late, which causes the company to take reactive rather than proactive action. With Multipeers you will always be able to stay ahead of the competition and make the best decisions for the business.
Make future thinking
Most managers favor decisions that seem to bring greater returns in the short term, eventually forgetting the long term. Making short-term decisions means that the business can be compromised in the future. All decisions must be made after the impact analysis they will have in the short and long term. A decision that is useful at present but which in the future may pose serious problems should be avoided.
Do not postpone inadmissible decisions
We tend to postpone difficult decisions even though we know that sooner or later we will have to act. If you already know what decision you are going to make and the consequences it will have for your business, it is not worth delaying anymore. Business needs dynamism and it is through decisions that it evolves. With the right tools, you can make business-beneficial decisions.