Decisions drive the day-to-day operation of a business. They must be made constantly, whether by the business owner, company executives, a board of directors or by a group of employees working together as a team. Decisions can include approach a new marketing campaign or choosing new software for improving business operations. Decisions need to be discussed, analyzed and planned before they are implemented, as decisions affect the company's brand, profits and relationships with customers.
Identify the Reasons
Before the proper decision can be made, the reasons for the decision needs to be established. This is done by outlining the problems that should be solved by the decision along with the reason why these problems need to be solved. For example, a decision may need to be made about implementing a new software program to track purchases, as the paperwork for purchases may be too time consuming for employees.
Research the Problem
If you already know what the problem is, start researching all of the factors or aspects involved in the problem. To continue with the example above, the software solution for tracking purchases may include other factors, such as tracking inventory and creating new invoices for customers. Installing the new purchase-tracking software must also include installing software for the inventory and invoices.
Brainstorm Options
The project planner must brainstorm the available options, now that the problem has been identified and the factors that may be affected by the problem have been addressed. This can include different software program options, different market entry strategies or restructuring the company departments to suit the goals of the project in question. Have a group of workers contribute to the brainstorming session so you get a list of different ideas and strategies.
Evaluate the Suggestions
Now that a list of suggestions and ideas has been presented by the team, each decision must be analyzed and evaluated. This is done by creating a pros and cons list for each idea along with a risk assessment to see how each option is beneficial for the business. If necessary, present the list of ideas to the upper-level managers or business owners.
Pick the Best Option
Analyze the pros and cons of each option created by the team. Choose the option that best suits the needs of the business and the set goals. While some people may go to the choosing phase after the problem has been identified, it is a much simpler process once all of the brainstorming and analyzing has been done for each issue.
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