Lecture Notes: The Art of Strategic Decision Making

Introduction

• Importance of decision making: Quality of decisions determines quality of life.
• Common decision-making pitfalls:
  • Overeating
  • Buying things we can't afford
  • Wasting time
  • Procrastination
  • Saying things we regret
  • Making permanent decisions based on temporary emotions
• Focus: Develop decision-making muscles
• Author's book: 'Think Ahead'

The Eight Factors of Great Decision Makers

1. Avoid Either-Or Scenarios

• Avoid limiting options to two choices.
• Example: Instead of hiring one staff member or not, consider maximizing current team members, utilizing volunteers, adding part-time roles, or outsourcing.
• Helps find better ideas and avoid being boxed in.

2. Decide When to Decide

• Procrastination is the enemy of progress.
• Actively designate decision times (e.g., weekly decision-making meetings).
• Create 'to decide' lists alongside 'to-do' lists.
• Bulk decisions together to create decision momentum.
• Use artificial deadlines to avoid stalling.
• Understand that no decision is still a decision.
• Fast-growing organizations require decisive leaders.

3. Become Your Own Personal Advisor

• Pretend someone else is asking for advice on your decision.
• Separates emotions from the situation for clearer perspective.
• Ask yourself: What would a great leader do? What would my successor do?
• Elevates perspective and compartmentalizes emotions.

4. Delegate Decisions

• Develop leaders by delegating decision- making, not just tasks.
• Delegating tasks creates followers; delegating decisions creates leaders.
• Use