IBF: Making the Right Decision
The behavior of an individual in the process of decision-making is not always logical. While ultimately decisions taken by a person affect their personal life directly and are less connected with people surrounding them, the future of other people greatly depends on the decisions made by a leader or an executive.
The leader chooses the direction not only for himself, but for the whole organization. Taking responsibility for crucial decisions is a rather heavy burden for managers and this clearly manifests itself at the higher levels of management; especially with regards the issues of the human resources and strategic marketing. Thus, the fundamental basis is common: a leader should only make very well-thought out and grounded decisions.
Making a decision means choosing, and actions taken beforehand are mostly developed after choosing the main direction. As such, it becomes apparent that the process of decision-making is far from simple.
Scientists offer different options that help optimize the process of decision-making and get the best results. Jeff Boss outlines the 9 characteristics of a good decision:
1. Good decisions positively impact others.
2. Good decisions are replicable.
3. Good decisions foster opportunity.
4. Good decisions include others.
5. Good decisions are executable.
6. Good decisions are systematic.
7. Good decisions are accountable.
8. Good decisions are pragmatic.
9. Good decisions involve self-awareness.
The process becomes incredibly complicated if we look at these characteristics radically and think “did he really test it according to all nine?” And this question becomes utopian if we discuss those cases when decisions have to be made in seconds.
However, specialists from HBR suggest that if good decision-making is not a rarity, the real leader will surely be able to make the right one in seconds, rather than in days or months. Meaning if one has thoroughly studied all characteristics of a good decision fundamentally (relevant high quality education) and if they have taken such steps earlier (professional experience) – they are bound to make the right decision.
Pierluigi Collina - The most famous football referee in the world, FIFA's "Best Referee of the Year" six consecutive times and the “world’s best referee” according to David Beckham, has made “decisions in seconds” thousands of times throughout his career. He continues doing the same, though no longer in football- this time in education.
Collina is a personal couch and motivational speaker who came to the International Business Forum in Batumi this week to share his experience with the audience and show them the art of good decision-making through a master-class.
A total of 800 professionals attended the forum providing an added benefit in terms of networking on an international level. Other prominent speakers of the forum were:
Kevin Gaskell - the art of creativity in digital chaos
Sean Fitzpatrick - winning matters
John King - tribal leadership
Dananjaya Hettiarachchi - communicate, connect, sell
The former CEO of Porsche and Lamborghini, Kevin Gaskell, compared the process of decision-making to that of preparing for the Olympic Games: “The athletes’ amazing achievements can be more than just inspirational to you and the way you run your business. You have more in common with these top class sports people than you think.”
Gaskell’s conceptual model suggests that in sports as well as in business, the quality and result of good decision-making is based on three factors:
a) Building trust
b) Effective and intensive communication with the team, and
c) Magic of shared achievement.
Kevin Gaskell also conducted a master-class during the IBF Batumi in Hotel Euphoria.
People’s decisions are often influenced by a range of psychological factors, like social customs, experience and personal values among many. Thus, people who are supposed to make big decisions in the highest-ranking institutions are chosen only after careful consideration of their phenotypic and genotypic characteristics.
Otar Kiria