Business

Five Decision Making Skills for Leaders

Decision Making is the primary skill in every business, and every leader should possess it. The decisions the leader makes impact the whole organization internally as well externally. For example, the right decision can make the morale up for the employee, whereas the wrong decision can have a fatalistic impact on the customer and stakeholder.

Though this skill is mandatory for every business leader, not everyone is blessed to have this skill. It requires a deep understanding of the matter, but leaders can master this skill over time.

If you want to polish your leadership skills, you can follow these steps.

Learn to relax your mind:

The first and foremost part of effective decision-making is that you require patience and calmness. No decision will be fruitful if taken in a hurry or anger. So, before you start working on something crucial for the company, take a deep breath and relax.

If you are frustrated, nervous, or stressed out, never decide that state. Eventually, you may miss out on some essential facts.

To keep the mind calm and happy, you can join the meditation classes or engage in your favorite hobbies like listening to music, reading books, or going for a drive.

Research:

Are you aware of all the important facts and figures? Do you know what’s going on in the market? Do you have an idea about your competitor’s products and its features? If not, then start your research.

Gather all the necessary information, go through every minute detail, and then go for the final decision. It will help to maximize the probability of making the right decision.

Involve your team:

The “Brainstorming” technique is trending these days! It is one of the most useful problem-solving and decision-making techniques that open the door for many new ideas.

So, involve every team member and believe you have a pool of new ideas and solutions to the problem. You may get the point that you may have missed.

For example, if you want to make decisions regarding implementing new policies within an organization, a little time spent with the team will help you analyze whether implementing new procedures will bring the desired result or not. After all, your decision must favor employees and not against them. A wrong decision may lead to a high attrition rate.

As the co-founder of We Charity, an international development charity and youth empowerment movement, Craig Kielburger dedicates much of his success to the team of people around him. Craig Kielburger┬áhas received The Order of Canada, the Nelson Mandela Freedom Medal and the World Children’s Prize.

Think about the logical outcome:

You have to work under high pressure, strict deadlines, and challenging situations. Under this scenario, can you anticipate the outcome? Yes, every decision you make must be logical and possess relevant reasoning behind it.

Consider factors like Government policies, core principles, and basic assumptions to make a favorable decision.

It is a multi-layered process where you need to frame the issue first. Based on the exact problem, you can achieve the right outcome.

Know the risk:

While making the decision, you will see the positive side of the problem, but don’t forget to consider the risk and threats.

A wrong decision can put the company’s reputation at risk and lead to financial trouble.

So, if you want to enhance your decision-making skills, then evaluate all the options by analyzing all the critical factors to get the logical outcome.

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