How To Make Business Management Decisions Like A CEO
If you would like to impress your employees, it is important to learn how to focus your efforts on how to make smarter business decisions. There are simple steps that you can take in order to make better decisions. Here are some steps that can help.
1) Questions To Ask
First, ask yourself if a particular decision falls under your jurisdiction. Is it really your choice to make, or are you taking over for someone else who should be stepping in? Delegation can keep a company running.
Take the giant company Boeing, for example. With over 18,000 employees this company runs smoothly because of the multiple layers of managers that oversee productivity. Nothing would get done if one person made all of the calls. So a CEO takes care of larger matters with the help of vice presidents, and managers throughout the company report up the line, ultimately to him. He does not want to hear about problems with tools not being delivered. These issues are reported somewhere down the line so that he can deal with getting more clients and keeping the company running.
Also, think about how much time you have to make a decision. An effective leader is precise in his choices because he takes the time to plan and think about consequences. Just as a chess player can foresee his opponent's possible and plausible moves, a CEO uses foresight to understand the long-term results of business choices.
Think about why this decision holds importance to you. Does it have emotional value, and if so, are you in the right state to make that choice? Sometimes it is better to do what is best for the whole rather than what is best for a few people. Weigh the costs of emotional decisions.
If you have ever worked on a timed paper in school you know that brainstorming is a key to working fast. It actually saves time to plan out and lay down all of your options so that you can make good decisions. When you know what you are dealing with, and have your topics in mind, you can drive through them with no doubt.
So take a small team and brainstorm the problem at hand. When people are allowed to call out whatever is on their mind, without judgment, more ideas come into play. With more ideas, you have more to choose from, which makes for a better final outcome.
Sometimes people are afraid to share their thoughts with esteemed colleagues because the environment is not friendly enough. Establish an open forum by emphasizing no judgment and by asking those who are not sharing about their thoughts. Pont blank conclusions can add a lot to meetings.
3) Use Process Of Elimination
This skill you learned in Elementary School again becomes handy as you strive to make important decisions at work. A good leader is thoughtful about all alternatives. In meetings, consider drawing out all options on a white board or on an online-shared document. Allow all members to contribute.
Then cross out ideas that do not work. By working backwards, you can reach the top decision without leaving out another good alternative. So start from the bottom and work your way up to the best choice possible.
4) Just Go With It
Once you have reached your final choice, stick with it. If it turns out to fail, go through this process again. But often, if you take these steps and collaborate with skilled coworkers, you are left with a brilliant decision.
So put your entire stake into it, and back it up. Do not stress about whether or not it was the right choice. If it felt right and made sense before, there is a good chance it was right. Go forward with determination to see your plans through, like a good CEO would do.
To become the kind of business manager you want to be, start by making the right choices. Begin making the right choices with these easy steps.