In the last blog, we talked about 6 common decision making pitfalls managers become entrapped by. So now, let’s discuss three more and see how managers can remedy these problems and arrive at the best solutions so to speak.
Framing Issues all Wrong
A very important thing to note is that they way you make a decision about an issue is influenced greatly by how you have framed the issue in the first place. Think about it. Did you frame the problem in a risk averse manner? Did you frame the problem from the point of view of other stakeholders? Did you use different points of reference? Were you only looking to avoid losses when looking at the issue or did you evaluate the gains from making the decision as well? Wrongly framed issue can lead to wrongly made decisions.
Avoid this pitfall by eliminating your initial framing of the issue. Think of all the alternatives in which the issue can be framed and look at it through all those windows to gain a wider perspective.
Managers can often make accurate estimates about what the sales of this quarter would be (based on demand and inventory), but other atmospheric matters are harder to estimate. For example, making estimates in uncertain situations may be a bit more difficult than simply making demand forecasts. Managers either become too overconfident in their ability to predict the future, or are too conservative and make estimations that best keep them in their comfort zone.
To avoid this pitfall, consider all extreme estimations—the best case scenario and the worst, then build arguments against both extremes. Apply ritualistic opposition to both sides and encourage your employees to participate before arriving at a final decision.
Confirming Your Decisions
Another thing that managers are quite fond of doing when making decision? Looking for evidence that supports their choice. Hardly any manager is going to seek out an antithesis to their decision. Because looking for data in favor solidifies the result. Looking for data on the contrary side makes you sway away from the status quo and results in shaking up your confidence. Something interesting that you can notice when you go through self evaluation is that many a times, you’ve already made the decision in your mind before you’ve even come across the possible solutions. And then you seek approval for your choice by looking for supportive evidence.
To eliminate this pitfall, it is a good idea to get someone in the company with a slightly different background to the rest. This way, they will be able to better spot the differences and obvious anomalies that the rest of the people in the organization have gone blind to.
Managers can never avoid decision making, especially when it concerns their work force. But they can make it more accurate by avoiding these pitfalls and using scheduled tools like the employee monitoring software.