[[:encoded, "Today we are going to talk about 10 Tactics for Making the Right Business Decisions.\n\nLeadership is not a popularity contest. In business as in life, it’s not always the good ‘guy’ who wins, it’s the ‘guy’ who makes the good decisions.\n\nBusiness leaders are forced to make choices every day. Some of those decisions will prove to be highly successful and innovative; some will dissipate into thin air; some may cause dissention in the ranks, while others may have staff believing they have a chimpanzee in the CEO’s office.\n\nIn the current dynamic and rapidly evolving business world, decisions often have to be made rapidly and without the benefit of a strategic agenda for managing change.\n\nWhat we discuss applies to every form of business, from small and mid-size companies to large corporations.\n\nIn most cases, the decision makers don’t have the luxury of a “wait and see” policy. In that time, multi-million dollar opportunities have been and gone.\n\nA survey of corporate executives by a faculty of the Harvard Business School found that an enormous shift has occurred in the policy making decisions of those responsible for signing off on the expansion and profit potential of corporate America.\n\nThe research findings suggested that 10 points are necessary to provide the required maneuverability and flexibility required to keep pace in a rapidly evolving marketplace.\n\nWe will discuss the 10 skills that are required for helping to make the right business decisions. \nBased on the information in this podcast, ask yourself: How will you apply, improve, or change your business tactics in order to put yourself in the highest probability position to achieve your goals? Update your game plan and implement these new decisions for increased success. \n\nTake advantage of the complimentary special report on Keys to Working Less, Making More Money, and Having a More Balanced Life by going to www.AccountabilityCoach.com. To help keep you focused on these activities that produce the results you want, subscribe to The Accountability Coach Blog. Receive 10% off on all learning resources to help you achieve your goals when you join the Silver Inner Circle Membership. It is FREE and you will also have access to many complimentary assessments and tools to help you on your goal achievement journey. Join the Silver Inner Circle today by going to: www.AccountabilityCoach.com \n\nAim for what you want each and every day! \nAnne Bachrach\nThe Accountability Coach
Unlock a blueprint to creating and having your ideal business and ideal life by scheduling your free consultation with me today!
Want more proven business success tips and resources? Subscribe to my blog by going to www.acountabilitycoach.com/blog.
Go to https://www.accountabilitycoach.com to check out for yourself how I, as your Accountability Coach™, can help you get and stay focused on you highest payoff activities that put you in the highest probability position to achieve your professional and personal goals, so you can enjoy the kind of business and life you truly want and deserve.
I’m the author of many books, including, Excuses Don’t Count; Results Rule, Live Life with No Regrets, No Excuses, The Guide to Stopping Procrastination, The Power of Visualization, My Gratitude Journal, the Work Life Balance Emergency Kit, and The Roadmap To Success with Stephen Covey and Ken Blanchard, and more.
Aim for what you want each and every day!
Anne Bachrach
The Accountability Coach™
Get your daily Accountability Minute shot of a single, simple, doable idea, so you can start your day off on the "right foot". You can find The Accountability Minute on your favorite platform
(upbeat music) - Hello and welcome to the Accountability Coach podcast. We will discuss topics, ideas, questions, and issues related to having a totally balanced and successful life. This is Anne Bakrak. Today we're going to talk about 10 tactics for making the right business decisions. Leadership is not a popularity contest. In business, as in life, it's not always the good guy who wins. It's the guy who makes the good decisions. And I'm using guy, in general terms, obviously. Business leaders are focused on making the right choices every day. Some of those decisions will prove to be highly successful and perhaps innovative. Some will dissipate into thin air. Some may cause distension in the ranks, while others may have staff believing that they have a chimpanzee in the CEO's office. In other words, he's lost his mind or she's lost her mind. In the current dynamic and rapidly evolving business world, decisions often have to be made rapidly and without the benefit of a strategic agenda for managing change. Therefore, to enable every form of management to act with agility and clarity in the face of opportunities or risk to that business, a precise rapid fire and manageable decision-making action plan needs to be implemented. Disapplies to every form of business, from a small business to a mid-sized business to a large business. In most cases, the decision makers don't have that luxury of a wait-and-see policy. In that time, multi-million dollar opportunities have been gone. A recent study of corporate executives by a faculty of the Harvard Business School found that an enormous shift has occurred in the policy-making decisions of those responsible for signing off on the expansion and profit potential of corporate America. The survey indicated that 59% of executives in strategic planning roles had adopted new decision-making agendas to meet the economy's need for rapid change and their company's desire to remain at the cutting edge of advancement and acquisition policies. The research findings suggest that 10 points are necessary to provide the required maneuverability and flexibility required to keep pace in a rapidly evolving marketplace. Obviously, some of these apply to you and some of these won't. So you might want to take notes as we go through here and jot down ideas for the ones that you want to review or implement. Here are the 10 tactics. Number one, improvement in information technology. A disciplined and focused information gathering facility is fundamental to the decision-making process. Informed decisions can only be made when senior management or the business owner has the necessary data available and that data has to be structured in such a way that the key points are logical, visible and measurable. The requirement for improved information flow has been met by the provision of new technologies like interactive internet facilities and customer management systems. These technologies provide metadata, tagging and improved archive and retrieval systems. Making the process of information retrieval effective and timely for all levels of employee staff within the firm. Number two, streamlining the decision-making process. Gone are the days when management decisions had to be streamed through a chain of command or at least those days should be gone. The decision-making process has been accelerated by developing a strategic planning committee made up of those who have a stake in the ultimate decisions. The participants in these committees change according to the scope of the project and the desired outcome. The cross-functional strategic development committee meet on a regular basis to review and monitor all aspects of a decision-in process so that its timely outcome can be achieved. Number three, clear and precise responsibilities. In a firm that requires high performance results, which that should obviously be everybody, everyone from the janitor to the CEO has a clear mandate defining his or her primary responsibilities, role and function within the entity. Control mechanisms such as operating procedures manuals and individual job description documents ensure consistency and security in job performance, communication and feedback. These are critical to any firm of any size. Number four, results-oriented environment. A highly functional organization, work is about getting the job done to the best of the ability and achieving the required results. The focus is on a team-oriented environment where every individual has a role in defining the end result. This requires that all employees have a clear vision about the company's policies and values and they accept full responsibility for his or her value in the hierarchy. Number five, decentralized decision-making. A top-heavy centralized decision-making firm is slow to react to change in a rapidly evolving environment. The efficient flow of information is halted by gridlock and hurdles that prevent the timely receipt of relevant information by the primary decision-makers. Number six, the political factor. Company politics really interrupt the overall efficiency of a business. By adapting precise business procedures and processes and adopting a more creative base for measurement of decision-making and conflict resolution, a firm can minimize political interference. Number seven, intuitive versus logical response. Making decisions that result in a positive outcome for the business relies on a healthy mix of logical analysis and well-informed intuitive skills. Rather than basing intuition on a simple gut feel, intuitive analysis is based on knowledge, experience, practice and the outcome of past decisions made in similar circumstances. One of the qualities of a good leader and entrepreneur is their ability to make decisions and choices based on limited information. Number eight, too much information. One of the major barriers to a firm's ability to make decisions in a limited time span is a desire for over-analysis of too much information. Effective decision-making is hampered not only by information overload, it can also be paralyzed by an over-analysis of that information. I've heard it said that a confused mind says no. If the correct processes and procedures are adapted as company policy, the provision of unnecessary information overload can hopefully be avoided. Number nine, results, rewards and recognition, an effective delegate, I'm sorry, an effective decision-making team requires acknowledgement when the results of their decisions prove to be advantageous to the organization. Decisions that have adversely affected the company's performance or outcome also need to be acknowledged. In this situation, it's important for decision-makers to analyze the factors that lead to the decision and to take preventative measures so the outcome isn't repeated. It's simple human nature to get it wrong from time to time, that's just understandable. Not even the strongest and most powerful leaders, business owners and entrepreneurs get it right 100% of the time. However, it takes a strong leader to admit he or she was wrong and that it's necessary to go back to the drawing board and analyze where and what wins arrive. Number 10, communication. A dynamic and focused firm and organization well equipped for the demands of this century will usually have a strategic agenda that includes open communication channels from the top down. In this age of advanced technology and telecommunication, there is no reason why all employees and team members involved in decision-making processes should not have access to all the information required. Outdated hierarchical structures that limit the flow of information on a need-to-know basis find themselves crippled by decisions that are made without the provision of correct or up-to-date information or through indecision caused by weighted top-heavy structure. Transparent and open communication across all platforms enable both the company and its team members and employees to operate in an environment where comments, feedback, and conflict resolution can be handled efficiently, rapidly, and without upheaval. How will you apply, improve, or change your business tactics in order to put yourself in the highest probability position to achieve your goals? Update your game plan and implement these new decisions for increased success. My hope for our time together is that you got value and an idea or two that will help you be even more successful. To help keep you focused on the activities that produce the results you want, subscribe to the Accountability Coach blog at www.accountabilitycoachblog.com, invest in the 30-day goal achievement self-study program so you can begin achieving your goals in the time frame that you want so you can enjoy the life that you desire. Get started by going to www.accountabilitycoach.com and review all of the resources and tools available to you. Aim for what you want each and every day. Until next time, make it a great day, today, and every day. Thanks for listening. [MUSIC PLAYING] Let me remind you that this recording is protected by copyright law and unauthorized distribution and copying is prohibited. [MUSIC PLAYING] (upbeat music)
[[:encoded, "Today we are going to talk about 10 Tactics for Making the Right Business Decisions.\n\nLeadership is not a popularity contest. In business as in life, it’s not always the good ‘guy’ who wins, it’s the ‘guy’ who makes the good decisions.\n\nBusiness leaders are forced to make choices every day. Some of those decisions will prove to be highly successful and innovative; some will dissipate into thin air; some may cause dissention in the ranks, while others may have staff believing ...
