Business Decision Making
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Dr. Eduardo A. Morato Jr.. Business Decision Making
CHAPTER 1: THE BUSINESS CASE
A good Business Case:
Proponents of a Business Case and Skills Required
1. Exploiting Opportunities
2. Solving problems
3. Strategizing and Operationalizing
CHAPTER II: THE DECISION MAKING PROCESS
The Nature and Intent of Decisions
A.Decisions Need Strong Proponents
B.Decisions Demand Clear Performance Outcomes
C.Decisions Involve Trade-Offs
D.Decisions Deal with Uncertainties and Potential Problems
Creating the Conditions for Good Decision Making
A.Stakeholder Analysis and Management
B.Choosing the Right Team
C.Creating a Higher Sense of Purpose and Involvement
Articulating the Benefits of the Decision and Removing Fear of the Unknown
CHAPTER III: SITUATION ASSESSMENT AND CRITICAL THINKING
Situation Assessment
1. Solving Simple Problems through Isolation
2. Solving Complex Problems
3. Seeking, Screening and Seizing Opportunities
4. Strategizing and Operationalizing
Critical Thinking
What is Relevant?
What is Important?
Where are the Magnitudes Headed?
What is Urgent?
What is Doable?
CHAPTER IV: FRAMING THE DECISION AND SYSTEMIC THINKING
1. Zooming In and Zooming Out
2. Techniques in Decision Framing. a.Systems Thinking
b.Changing Perspectives
c.The Problem/Opportunity Tree
d.Isolation
CHAPTER V: GENERATING ALTERNATIVES AND CREATIVE THINKING
Decision Facilitation for Generating Alternatives
Generating Alternatives
Creative Techniques for Generating Alternatives
A.Generating Many Ideas
B.Generating Different Ideas
CHAPTER VI: EVALUATING ALTERNATIVES AND LOGICAL STRUCTURED THINKING
FOUR STEPS IN EVALUATING ALTERNATIVES: STRUCTURED THINKING. Determining Positive and Negative Values
Quantifying the Positive and Negative Values
Determining the Appropriate Criteria
Applying the Criteria
ARGUING FOR OR AGAINST AN ALTERNATIVE: LOGICAL EVALUATION
Logical Thinking
Illogical Reasoning
CHAPTER VII: NEGATIVE VALUES, UNCERTAINTIES AND POTENTIAL PROBLEMS
Negative Values, Uncertainties, and Potential Problems
Recognizing and Accounting for Negative Values
Managing Uncertainties
Managing Potential Problems
CHAPTER VIII: CHOOSING AND IMPLEMENTING DECISIONS: SEQUENTIAL THINKING AND ACTION PROGRAMMING
A.Who Will Implement?
B.Staging and Phasing the Implementation: Action Programming
C.How Much Resources are Needed and How Should the Resources be Raised and Deployed
D.Communicating the Decision and Rallying the Organization
Monitoring and Evaluating the Decision
Institutionalizing the Decision
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TOPICS COVERED
What is a good Business Case?
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