Decision Making: 5 Decision-making skills for Leaders
Being a leader one of the most important things we are ought to do is making decisions. Decisions which are going to decide the fate of our organisation as well as everyone in it and around it. Arguably it won’t be wrong to say that success is a sum of all the good and bad decisions one makes.
So here are 5 Decision-Making Skills for making courageous decisions which will define success.
For leaders to develop, their problem-solving skills are a must as it plays a pivotal role in decision making. We as a leader need to take in consideration many different and conflicting viewpoints so as to make an informed and good decision. Apart from this will practicing problem solving it also enables us to separate the emotions from the conversations we are going to have that will have an impact on our decision making. In accordance with the developing and having deft problem-solving skills. We can devise a decisive decision in an effective way.
The reasoning is one of the quintessential skills which have to be at the very core of any decision we make. As without proper reasoning, no one can make informed and the right decisions. For themselves as well as for the development of the organization. For that purpose, we should make it certain to list down all the merits and demerits we can consider on and will be taking action on. Apart from this reasoning will not only help us to plan ahead but will also be useful in taking lessons from the past and making the best out of the present. For the same purpose, we should collect and consider all the accessible information and evaluate the relevant points from the data to make an appropriate stance on the decision.
We would have heard of emotional intelligence at some point in life. And with growing studies and literature on the same, its importance is reflecting in our every social behaviour and practice. Decision making is no exception and it highly influences one’s decision making. The man by nature is a very emotional being and our ever decision is directly or indirectly is made under a major bunch of emotions. Emotional intelligence is very useful while taking a big and small every decision as it makes us aware of our emotions critically and helps us in such a way that encourages action.
By deploying our creativity we can harness the power of logical and emotional thinking which can lead us to many unique and special solutions. We need to put in trust on our employees to come up with ideas as well and exchange them to create short and long-term solutions. We can use this creativity to build a framework of conversation which we can have with our employees as well as clients to conduct effective meetings and conversation which will lead to informed and prudent decisions.
Time Management also amounts to making quick and good decisions. As we always should have an outline to make decisions. The decisions which are taking with posthaste and in a confined space of time are often the decisions which are regretted. Therefore when we have proper time management skills it allows us to structure how we can decide without being under pressure and under influence of time bounds.
For instance, we can see a Toronto based serial entrepreneur and investor Reza Satchu Founder and Managing Partner of Alignvest Management Corporation. Reza Satchu serves on the faculty at the Harvard Business School where he teaches Launching Technology Ventures and The Entrepreneurial Manager.