Business Decision Making

Business Decision Making
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Business Decision Making is not just about sharpening the manager's tools and techniques in defining, evaluating and making decisions. It is also about stretching the mind to think better. That means being able to tap into the brain's patterns of thought, sequencing of ideas and creation of insights. That means being able to see both the big picture by zooming out and the small picture by zooming in. That means being able to ferret out what is relevant, important, urgent, doable, and big enough to matter. That means being able to imagine many different ways of solving problems, finding opportunities and crafting strategies. That means being able to diverge into countless possibilities but converge into one powerful solution or direction. That means being able to program a series of action steps that would convert ideas into reality.

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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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