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How To Make Good Decision

Making good organizational decisions is not an easy task.<br>Managers rotate through a decision making life cycle before they can come up with that ground-breaking decision that changes the business performance of their organization. This presentation explains the different stages of good decision making life cycle and helps you to structure your decision making process either through choice architecture, intuition or cognitive approach.<br>

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How To Make Good Decision

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  1. How To Make Good Decisions Martin Maduka Ejeagwu, MSc., MSc. How To Make Good Decisions

  2. Beshears & Gino, 2015 Adapted from Schenk, 2017 How To Make Good Decisions

  3. Understand How Decisions Are Made Beshears & Gino, 2015 Adapted from Schenk, 2017 How To Make Good Decisions

  4. Define The Problem Use Tools & Techniques for Creating Problem Statements • Behavioral Economics • Root-Cause Analysis, etc. Beshears & Gino, 2015 How To Make Good Decisions

  5. Diagnose the Underlying Causes If you know the cause of your problem, that problem is halfway solved. Lack of Motivation Systematic Error Beshears & Gino, 2015 How To Make Good Decisions

  6. Design The Solution • Experience helps • Solve intuitive problems with intuitive solutions • Solve systematic problems with systematic approaches Beshears & Gino, 2015 How To Make Good Decisions

  7. Test the Solution • Identify the desired outcome • Identify possible solutions and focus on one • Introduce the change in some areas of the organization Beshears & Gino, 2015 How To Make Good Decisions

  8. Leaders can act as DECISION ARCHITECTS Ejeagwu, 2017 How To Make Good Decisions

  9. Reference Beshears, J., Gino, F. (2015). Leaders as Decision Architects: Structure your organization’s work to encourage wise choices. Harvard Business Review. Schenk, B. (2017). Management Information Systems. University of Liechtenstein: Vaduz. How To Make Good Decisions

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