Entrepreneurial Decision Making

Getting the right things right

“Effective decision-makers always test for signs that something is atypical or unusual is happening, always asking: Does the definition explain the observed events, and does it explain all of them? They always write out what the definition is expected to make happen… and then test regularly to see if this really happens. Finally, they go back and think the problem through again whenever they see something atypical, when they find unexplained phenomena, or when the course of events deviates, even in details, from expectations.” (Peter Drucker)

“Managerial skill cannot be painted on the outside of executives, it has to go deeper than that.”

(Mary Parker Follett)

£100.00 £ | $ | €

In many ways, decisions are the footfalls of progress: they can be quick or slow, large or small, easy or risky, simple or arduous, but they are the vital components of success. In a commercial context, decision-making means growing revenues and minimising costs so that profits are increased, the long-term value of the business is enhanced and the competitive position of the business (or business unit, support function or team) is strengthened. These priorities should constantly guide management decisions, influencing the choices that are made throughout the organisation.

This toolkit explains how to make the best possible business decisions – and avoid thinking that is flawed or weak.

Length: 12 pages

The Benefits

Action Checklist: Entrepreneurial Decision-making

Assessing the situation
Defining the critical issues
Specifying the decision
Making the decision
Implementing the decision
Monitoring the decision and making adjustments as events unfold
Using your intuition

Avoiding Problems – this includes avoiding potential challenges such as: behavioural pitfalls, coping mechanisms, leadership and cultural flaws.

Dos and Don’ts

Key Questions

Things You Can Do

Anticipate the impact of major decisions
Find out about decision analysis techniques
Balance analysis with the need for action
Keep informed about relevant issues and trends
Build informal networks
Deal with ambiguity and risk
Accept personal responsibility
Be proactive
Take unpopular decisions when needed
Achieve consensus
Consider customer needs

Further Action

Further Information

£100.00

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Toolkits are fully comprehensive, action-oriented and sold with unlimited rights to reproduce, adapt and distribute within your organization
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Entrepreneurial Decision Making

Getting the right things right

Contents

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