Element #4 - Decision-Making System
Today, executives are under more pressure than ever to make good decisions. The typical route for an executive is to do an analysis and put together a financial model. However, many executives fail to look at the system used to make a decision. This leaves them with few options, confirmation bias (only look for evidence to support chosen options), overconfidence and what we have learned from neuroscience decisions are made emotionally. A system of decision-making is needed to mitigate these factors.
Aim and Narrative
You don’t need a burning platform or financial emergency to improve your organization. You need an Aim and a Narrative that inspires. customers and employees.
Designing from a customer viewpoint improves the customer experience and helps front-line employees make immediate adjustments to customer interactions.
Data to Knowledge
Data are becoming more important with the advent of Big Data. The question is, “If you didn’t know how to deal with small data – how are you going to deal with Big Data?”
Making better decisions hinges on understanding how you make decisions and what limits making better ones. This requires study and a system.
Creativity and Innovation
Creativity and innovation are no longer optional. Creativity brings new ideas products/services. An innovation pipeline keeps customers and employees juiced.