Making Successful Business Decisions: Getting It Right the First Time

You Will Learn How To

Make intelligent decisions with limited time and information
Reframe issues to ensure greater problem-solving accuracy
Convert conflicting opinions into useful insights
Leverage a range of qualitative and quantitative tools to enact your decisions
Foster efficient and effective group decision making
Ensure decisions are implemented by the organisation

Course Benefits

In today's business environment, professionals deal with uncertainties from every angle as pressure to make the right decisions builds. The ability to make critical, high-impact decisions under less than ideal conditions requires clarity, confidence and decisiveness. This course provides you with the skills to wade through uncertainty to reach well-considered decisions and gives you the necessary knowledge to repeat your success in the future.

Who Should Attend

Anyone in a decision-making capacity who would like to learn how to make successful business decisions, including managers, business analysts, department heads and team leaders.

Extensive activities throughout the course immerse you in an authentic environment, providing practical experience in making successful business decisions. Activities include:

Analysing probability and impact of real-life scenarios
Implementing key business drivers and stakeholder needs
Reframing issues for decision-making effectiveness
Clarifying opinions within groups and teams
Leveraging integrative thinking in group meetings
Facilitating team decision making in simulated case studies
Applying qualitative and quantitative analysis tools
Creating solutions for key business initiatives
Convincing managers to implement critical decisions
Designing metrics to monitor and track success ratios

Course Content

Examining the Psychology of Decision Making

Analysing the business environment

Evaluating the impact of key business drivers
Developing an awareness of issues and risk
Reframing the decision landscape

The thinking behind decision making

Recognising the psychology of the process
Quantifying the risks associated with decision making

Negotiating Conflicting Opinions to Set Direction

Delivering results in a group

Overcoming the ambiguity and uncertainty of opinions
Increasing personal effectiveness through integrative thinking
Forging a four-step process to integrate multiple points of view

Applying models to get results

Facilitating the "Six Hats" theory to decision analysis
Removing bias and limited perspective in a group

Balancing Your Skills with Qualitative and Quantitative Techniques

Leveraging qualitative analysis tools

Performing probability and impact analysis
Differentiating between acceptable and unacceptable odds

Adopting quantitative financial analysis to back up your decisions

Evaluating potential initiatives using a range of tools including net present value (NPV) and return on investment (ROI)
Establishing a multistep decisional process
Identifying trends in quantitative analysis

Facilitating Decisions in Groups and Teams

Steering group dynamics to ensure success

Managing discussions through affinity analysis
Eliciting ideas using the Delphi technique
Recognising group needs through prioritisation
Mastering the skill of facilitated dialogue
Establishing common ground with divided stakeholders
Uniting groups and teams for ongoing success

Influencing stakeholders to implement decisions

Implementing your decisions in an environment resistant to change
Redirecting resistance by leveraging emotional intelligence
Undertaking and reviewing your plans
Leveraging the art of persuasion

Creating Growth Opportunities

Making decisions to maximise asset value

Identifying profit models in your organisation
Rating their effectiveness
Measuring the impact of key variables

Personalising your profit model approach

Structuring a plan to focus your organisation's efforts on profitability
Selecting profit models to maximise benefits
Realigning your organisation to implement the model

Adapting Decision Strategies for Complex Situations

Risk response strategies

Adhering to best practices to solve real-world issues
Implementing plans to mitigate or avoid negative risks
Exploiting or enhancing positive risks

Converting strategy into action

Developing growth opportunities
Building appropriate plans to consider the downstream impacts of your decisions
The "butterfly effect" in decision making
Navigating "complexity theory" in long-term planning

Monitoring and controlling sustainability

Building downstream measures to track success
Adjusting for continuous improvement
Reporting progress to key stakeholders

Personalising Your Approach to Decision Making

Analysing real problems using best practices
Evaluating the data with proven tools and techniques
Making success repeatable by converting theory into practice
Applying decision-making best practices
Ensuring appropriate due diligence in agreed results

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