Picture source: freepik.com
In the face of challenges at work, making good decisions confidently and without delay is a skill that can set you apart from others. However, to know a decision the right step is to assess the results. You will find out, over time, whether a decision was good, bad, or indifferent. But if you rely solely on retrospective analysis, the pathway to better decisions can be tenuous: Hindsight is highly susceptible to attribution bias.
For that there are several core elements of great decisions:
1. Gather considerations from many different points of view
For decisions to be formed correctly, you need to consult those who can make an impactful contribution. Seeking valuable input from people who are relevant and have the right expertise will help you gain a better understanding of the problem you are trying to solve and come up with smart and effective solutions.
2. Make decisions close to action
Ask for input and guidance from the people with the most knowledge, experience, and perspective on the problem at hand or the people closest to the action — and give them the credit for actually making your decisions better.
3. A balanced short-term and long-term value
Don't just think about risk vs. impact, also consider short term vs. long-term. Finding the right balance between short term and long term considerations is the key to unlocking true value. The earlier you do this the better your decision making will be.
4. Great decisions are timely.
Speeding up your decision-making process starts with understanding the core elements of a good decision. For example, instead of painstakingly consulting everyone who wants to share their opinion, only seek feedback from those who can actually add value — and don't wait for them all to agree. Instead, use your own judgment, and a cost-benefit analysis, to chart the best course forward with the information you receive.
With a commitment to evaluate your decisions prospectively, you'll be able to make better decisions, faster than ever before. Later you will also get used to making decisions based on the level of urgency.
Article source: Hbr.org