Updated: Jun 28
Making any business decision can be a very difficult process which is why it is important to be able to analyse the consequence of a decision and take responsibility for the outcome of it. There is a process to achieve the level of making deliberate and thoughtful decisions, whether it may be a corporate decision or a trivial one.
Against a background of developments and impacts, a decision-maker needs to assess their position, the strength of their resources, and the value of their options to make a deliberate and thought-out decision. To better understand how decision-makers arrive at the right solution, let us discuss the six steps of decision-making that will bring you to it.
1) Figure Out Your Overall Objectives
It is important to know what your overall objectives are. Whether it is personal or business-oriented, you need to make a list of things that are currently giving you some form of discomfort. The reason you need to have a clear overall objective is that you will have to choose between two or more options and figure out which option is better suited for you.
2) Get Relevant Information
Decision-makers need to gather a list of relevant information and facts about the options open to them. The decision-maker should also identify the resources that are available to them to help them gather the facts, which will give us appropriate options to choose from. This evaluation should be done from a position of objectivity.
3) Look for Good Providers
Another important thing that decision-makers need to keep in mind is to look for solution providers who will be able to provide them with the facts they need. These people can help you filter through all the information and help you identify the things that are relevant to achieving your overall objective. Tap into a network like Brand Partnerships if you’re lacking in connections.
4) Weight All Your Options
Once you have all the relevant information, you should be able to weigh all your solution options on a scale and figure out which pick is going to benefit you the most. At this point, decision-makers will also have to figure out which option will give them the best return on investment, which means they should know what they stand to gain or lose.
5) Execute Your Choice
Executing your decision is one of the hardest and most frustrating parts of any decision-making process. If you have made your decision and have figured out that this is the best option for you, you should be able to execute your judgement and take the necessary action with a great level of confidence.
6) Review the Results
Once your decision has been executed and you have achieved the desired outcome, you should be able to take the necessary responsibility for the decision you have made. No matter which path you choose, there will always be people who will be impacted by your decision. The best you can do is to be accountable for all of your choices.
Decision-making is the process of making choices between multiple alternatives, and it can shape a business’s future. If we apply all of these processes, we should be able to make a deliberate and thought-out decision that will have a positive impact on us.
Looking for a solution provider for businesses? Brand Partnerships launched in 2022 to connect brands and solution providers, helping both parties fulfil their interests. Get in touch with us today!