I am writing on this topic based upon reading in the latest edition of Harvard Management Review Publication. They interviewed author Paul Nutt, a management professor from Ohio State University. Looking back at the experience of both others and my own, and based on information in this article, here are some keys to making better decisions as to increase the odds of being successful.
First and foremost, everyone makes wrong decisions and the purpose of this article is not to tell you the secret of always making the right decision, there is no secret. These suggestions, however, will help you minimize the chance of making the wrong decision.
There is not one shortcut to success but millions that lead to disaster.
One of the biggest problems in making decisions is for the decision maker to try and make a quick decision, often as quickly as possible. If you put unrealistic time frame on decision making, you are limiting your options and increasing your odds for failure
Increase your Option
The more options you look at to make your decision, the more chances you have to make the right decision. Without examing an array of options, how can you be sure that you are not only making the right decision but also the best decision.
Motives in Motion
What is your motivation, are they self-centered, are they inline with what the goal of what the decision is trying to accomplish. This requires brutal honesty with one's self.
Ask and Listen to Stakeholders
This not only includes those who have a financial stake in the decision but also those who will be involved in the implementation of the decision. Remember, without the support of those who will implement the decision, it is doomed for failure.
So remember when you are making your next decision; take no shortcuts, increase your options, check you motives and listen to the stakeholders.