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eNewsletter - 3rd Quarter 2011

Improve Your Decision Making

 

By David Gabri, President and CEO 
Associated Luxury Hotels International (ALHI)

We can all agree that your ability to make decisions in your professional life can have a major impact on your career success, and on your ability to lead. Timely, and primarily accurate, decision making is key to leading your team, and assisting your clients and constituents to achieve organizational effectiveness and goals.

 

So how do we go about improving our decision making?

 

According to Tom Davenport in his thought-provoking article "The Year Ahead: Make Better Decisions" (www.harvardbusiness.org), a "key step for individuals or organizations is to make a list of key decisions," citing examples like listing the "top 10 decisions required to execute our strategy," or "the top 20 decisions that have to go well for us to meet our financial goals," or more personally, "five key decisions for my financial future."

 

How To Make A Decision

 

Determining "how to make the decision," essentially becoming a better decision maker, is the key, according to Davenport:

 

Step 1: Define the decision to be made.

 

Step 2: Determine the method (i.e. unilateral, consultative, majority, or consensus).

 

Step 3: Establish governance (who is expected to be responsible, accountable,         consulted and/or informed).

 

Step 4: Make the decision (be decisive).

 

Step 5: Communicate and implement it (share your decision clearly).

 

 

Change Your Thinking Hats

 

If you are having a difficult time identifying different perspectives for the problem at hand, an effective technique described on the career-building website "Mindtools" is "Six Thinking Hats." With this technique, you "wear" each thinking hat to achieve a different style of thinking:

 

White Hat - Focus on the data available, past trends, and historical data.

 

Red Hat - Look at the decision using intuition, emotion, and "gut reaction."

 

Black Hat - View the problem in a pessimistic, cautious and defensive manner, and how ideas might not work or are flawed or too risky.

 

Yellow Hat - Look at the decision in a positive and optimistic light, and the benefits of each potential solution.

 

Green Hat - Develop creative solutions to the problem.

 

Blue Hat - Look at the decision as if you are chairing a meeting and controlling the process, in order to guide team members through different styles of thinking.

 

 

Decision Making Techniques

 

Additional tips to help make effective decisions, as described on "Mindtools," include:

  • Create a constructive environment for decisions.

This includes establishing the objective, agreeing on the process, involving the right people, allowing opinions to be heard, making sure you are asking the right questions, and incorporating thinking from a different perspective.

 

  • Generate good alternatives in the vetting process.

This consists of looking at the problem from different angles, brainstorming, reverse brainstorming, gathering different perspectives, and organizing ideas.

 

  • Explore your alternatives.

To accomplish this, you need to evaluate the feasibility, risks, costs, benefits, and possible consequences of the options.

 

  • Choose the best alternative.

This step includes evaluating the options, and identifying the priorities in order to determine the best decision.

 

  • Check your decision.

Before implementing the decision, evaluate the final choice to ensure the process has been thorough and that errors haven't affected the decision.

 

  • Communicate your decision, and take action.

Explain the decision to those affected, and to those involved with implementing it.

 

 

By utilizing these techniques, you can forge ahead with better decision-making, which can help you to achieve even greater professional success and effectiveness.

 

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David Gabri is president and CEO of Associated Luxury Hotels International (ALHI), which has the national sales responsibilities to the meetings and incentive industries for its distinctive portfolio of over 130 Four- and Five-Diamond hotels and resorts worldwide which specialize in meetings and conventions. Contact your nearest ALHI National Sales Office, call the "ALHI Group Desk" toll-free at 866-303-2544, and visit www.alhi.com.