The Art of Decision Making

Making a decision.  Sometimes it can be so easy.  Other times we will drag it out forever and a day.  The act of not making a decision may be seen as procrastination.  Or is it?

There are always going to be consequences to our actions.  That goes without saying.  Sometimes those consequences are positive, sometimes they are negative.  But what is worse?  Making a decision and facing whatever the consequences may be?  Or making no decision at all?  I would argue when we don’t make a decision, we also do not want to face what the consequences may be.

When making decisions there is an element of risk and possibly fear.  Depending on the situation and the importance of the decision to be made, the level of risk and fear can increase.  Of course, there is also our tolerance for risk which will influence our decision making.  Some people will jump in both feet whilst others are still dipping their toes in.

In business, decisions are made every day.  These decisions can impact the whole business sometimes.  There is possibly a larger amount of risk.  This can make the decision all the more difficult.  I often recommend to my clients to go back to the Values of the business and utilise them in their decision-making process.  That is one role the Values play.  They are foundational to the business and its success.  The Values bring everything into perspective.

However, what if you don’t have established business Values?  How are you making your decisions?  What are they based on?  Your own personal values?  That may be fine but what if your personal values create a biased view?  Or if you do have your business Values established, yet aren’t using them in your decision-making process, why aren’t you?  Especially when a decision is hard to make.

There are pros and cons to fast decision making, slow decision making or making no decision at all.  What impact is that having on your business and its performance?  Is it a cost you are willing to bear?

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