Up and to the Right: Decisions Drive Action

Hey there, it’s Karen. So glad you’ve joined my weekly newsletter where I cover one tip for becoming a better leader or manager. I draw from prior experience as a b-school professor, HR executive, executive coach, CEO, and start-up founder. In all these capacities, I’ve seen how poor leadership can undermine individual and collective success.

In this week’s newsletter, we are talking about how to make good decisions as a leader especially when you don’t have all the data or information you wish you did (and let’s face it, when do you ever have all the data you need?). Let’s get to it.

Whose Decision is it Anyway?

As leaders, the decisions we make have a profound impact on our organizations, teams, and stakeholders. Mastering effective decision-making is essential for achieving desired outcomes and driving sustainable growth and yet…too often we feel like we are making decisions in a vacuum, under unrealistic timelines, with limited data, and with too many influences pushing us one way or another. What is a leader to do?

1. Gather Relevant Information: While it’s very true that it will be a rare moment to be in the position of having all the data you need, that’s not an excuse not to collect as much as you can before making a decision. And be sure to remember “data” includes the perspectives and experiences of stakeholders. You can learn a lot more than you may think by just asking relevant players what they think about a critical decision.

2. Seek Different Perspectives: It isn’t enough to just encourage diverse viewpoints - you must actively seek input from team members and stakeholders that varies from existing input or even your own beliefs. Brew constructive dissent and engage in healthy debates to challenge assumptions and gain a comprehensive understanding of the situation. If you hear a lot of consensus early on in a decision-making process, raise the alarm - group think may be pushing you toward the muddy, middle (mediocre) option.

3. Utilize Decision-Making Tools: Various decision-making frameworks can help structure your thinking process. Tools such as SWOT analysis, cost-benefit analysis, and decision trees can provide valuable insights and aid in evaluating options objectively. Use them as you need, or don’t but remember when you are stuck, these tools can help you see things from another perspective and get the decision-making process restarted.

4. Assess Potential Outcomes: Build several futures in your mind. If you do X, future Y emerges; if you do A, future B emerges. This exercise helps you consider the short-term and long-term consequences of your decisions, evaluate potential risks, benefits, and their impact on various stakeholders before you proceed - saving you time, energy and frustration in the end.

5. Balance Speed and Deliberation: Try to ascertain the “true urgency” of the situation and allocate appropriate time for analysis and reflection, while being mindful of deadlines and stakeholder expectations. What’s the “true urgency?” - it is an exercise in ruthless prioritization that forces all stakeholders to be realistic about the pros and cons of speed over more time for deliberation.

6. Trust Your Intuition: Going back to the top, data isn’t always going to be complete and you’re in a leadership position for a reason. Using your intuition (which is really just the result of a whole lot of experience) can be a powerful ally in decision-making. Pay attention to your gut feelings and personal instincts, particularly when faced with complex or ambiguous situations. Combine intuition with data-driven analysis for well-rounded decision-making.

Pitfalls to Avoid:

1. Analysis Paralysis: Over-analyzing and never reaching a decision can hinder progress. Be mindful of striking a balance between gathering information and taking action, avoiding excessive delays that may lead to missed opportunities and remember you’ll never have the perfect conditions for most decisions.

2. Confirmation Bias: Beware of seeking information that confirms pre-existing beliefs or preferences. Actively seek diverse perspectives and challenge your assumptions to avoid falling into this cognitive trap.

3. Failure to Delegate: Leaders may feel the need to make all decisions themselves, but this can lead to burnout and hinder team development. Delegate decision-making authority when appropriate, empowering team members to take ownership and contribute to the decision-making process. You may be the leader but you aren’t alone!

4. Relying Solely on Past Experience: While experience is valuable, it's essential to recognize that each situation is unique and to not over rely on the “I’ve seen this before!” mantra. Context is queen! Always consider the specific context and dynamics of the current scenario.

Want to learn more about Decision-Making?

1. "The Art of Decision-Making" - Harvard Business Review.

   Link: HBR Article

2. "Effective Decision-Making Strategies for Leaders in a Fast-Paced World" - Forbes.

   Link: Forbes Article

3. "The Role of Emotional Intelligence in Decision-Making" - Fast Company.

   Link: Fast Company Article

4. "Avoiding Decision-Making Traps: Common Pitfalls to Watch Out For" - Inc.

   Link: Inc. Article

Leadership Trivia

Which company just sacked the 18-year company veteran and head of one of its most successful programs for quality failures?

1. Kraft

2. IBM

3. Boeing

4. Google

Answer below.

That’s it for today but one more thing: if someone forwarded this email and you’d like to sign up for Up and to the Right, we’d love to have you:

Lead on,

Karen

Trivia answer: (3) Boeing fired Ed Clark after 18 years at the company less than two months after the midair blowout of a fuselage panel aboard a 737 Max airplane.