Weighing options without distractions
Framework for Decision Making
A key ingredient for business success is the ability to stay focused on a plan for sustained high growth. Sticking to a pragmatic vision and positive values builds trust in your product and services.
With trust comes brand value. However to sustain profit from brand value requires continual re-evaluation of market perceptions and the relevance of your offerings to consumers.
It is therefore important to constantly obtain market feedback, learn about developments in your industry and review your capacity to evolve to remain relevant to customers.
The challenge is in making business decisions in a timely manner based on the information you have. At the end of the day, your decision will be considered good or bad on the basis of whether the decision resulted in customer satisfaction.
Decisive Decision Making
It is important to analyse, understand and make decisions based on your business vision and values at the practical level of satisfying customers. If they are not satisfied they will not pay the price needed to make a profit.
Utilizing the business vision and values as the basis for listing significant options for deciding on the best course of action can result in a manageable list that encourages timely decision making. A list of insignificant options that are too long can lead to paralysis in decision making and in-action.
Justify inclusion of each option on the list for decision making. Ultimately it is important to make a decision that results in satisfaction for the greatest number of customers.
International Business Consultant
Reboot your business plan for sustained high growth.