6. Be Well Aware of Failure

6. Be Well Aware of Failure

A good leader and manager are well aware of consequences of both success and failure. Therefore, make sure to accept it and set the expectations for the team as well.

You should always be prepared for a worst-case scenario and employ a back-up plan when you think it fit.

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7 Common Decision Making Mistakes to Avoid

invensislearning.com

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7. Move on

Irrespective of the consequences, you and your team need to move on.

If the decision taken did not turn out as expected, accept it and work on the backup plan or do something to get the motivation and zeal back in the team.

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4. Expand your Horizons

When you make a decision, it is not necessary that another person will agree with it. Therefore, it is crucial to explore all angles and viewpoints before making a decision.

How you take inputs from people and then make it a decision or law is up to you, and it’s equally vital to let people know their inputs matter a lot in making a decision.

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1. Delaying the Important Stuff

It is important to take time out and analyze the situation and look forward to resolving an issue.

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2. Believe in Yourself

One of the most common characteristics of humans is self-doubt. However, on few occasions when a decision hangs by the thread which could impact your day-to-day activities, we think about our decision making process a lot with regards to its repercussions.

Pause for a while and take a back seat from all the clutter around you and carefully think about a situation, you will find a solution to it.

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5. Being full of yourself

Many a times we think that all the information available to us is of relevance and reliable.

However, this arrogance traps us in making wrong decisions. Therefore, it is crucial to rely on more than simple gut feeling.

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3. Follow a Structured Approach

It is very important to approach any decision statistically and arithmetically rather than gut feeling alone.

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Most decision-making errors boil down to:

  • logical fallacies (over-generalizations, comparing apples and oranges, circular thinking)
  • limiting beliefs (underestimations of what's possible)
  • judgment biases (valuing certain factors above others).

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There are a number of problems that can prevent effective decision-making. These include:

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3 decision-making mistakes that you must avoid
  1. Impulsivity. Thorough decisions combine all three senses – seeing, hearing and feeling. Impulsive decisions always lack one of these elements.
  2. Allowing yourself to be persuaded against your better judgment.  The selfish judgment of others should not interfere with your decisions. 
  3. Analysis paralysis. Inner conflict usually means a 'no'. Put off your decision for a while. Make an assessment of the risks involved and decide what size of risk you are willing to take.

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