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Tuesday, October 18, 2011

How Managers Make Strategic Decisions (Jim Lukaszewski's Strategy Newsletter)

How Managers
How Managers Make Strategic Decisions (Jim Lukaszewski's Strategy Newsletter)
by James E. Lukaszewski
Ranking has gone up in the past 24 hours 7 days in the top 100

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Review & Description

Each year an astounding number of books and articles appear around the world on the subject of management decision making, leadership, goal setting, and achieving victory (or at least management success). No matter which prescriptions or labels from creative management gurus you choose, there is a recognizable pattern of management decision making. The model that emerges has six important components with an optimum order. For decisions that matter, all six components will come into play. Omitting or skipping a component or changing the order is how mistakes happen, damage occurs, careers as well as companies get redefined. Each of the six components has three powerful common elements: 1. Factual basis: What we actually know, can count on, trust, or see. 2. Real-time: On issues that matter, ideally there is a very small gap in time between decision and action. The larger the separation between decision and action the greater the likelihood that significant factual change may make a portion or all of the action less than optimum. 3. Outcome focus: Strategic decision making is always about the future. The past can only be re-imagined, reconfigured, rewritten, relived, and reinterpreted. It can't be changed. Looking forward allows us to set the past aside and deal in today and tomorrow. This is a much more positive and controlling approach. THE IDEAL PROCESS In theory, management decision-making goals are easily identified: decisions are rational; reasoning is logical. If the process can achieve rationality and logic, the decisions made and actions taken will be unemotional and incremental. Read more


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