"In any moment of decision the
best thing you can do is the right thing, the next best thing is the wrong
thing, and the worst thing you can do is nothing." ―Theodore Roosevelt
Making decisions is a major challenge
for leaders and CEOs. If they are expert in conceptual, technical and business
acumen and have access to authentic information, they can make wise decisions and
achieve amazing outcome.
Information is important to making
wise decisions. Choosing the accurate information is essential to achieve the
desired objectives. It requires experience, expertise and judgment to choose
from the available information. If there is access to authentic information and
the decision makers have the ability to interpret and forecast the pros and
cons of their decisions well in advance, they can make decisions easily, quickly
and wisely.
Colin
Powell’s 40-70 Rule
Colin Powell, the former Secretary of
State followed 40-70 Rule where the decision makers must have access to
authentic information between 40 to 70 percent. If you have information below
40 percent, you must go by your heart.
If you have information above 70 percent, you must go by your head. At times,
complete information may lead to information overload and confusion. If you
have information between 40 to 70 percent, you must go by your head, heart and
gut. Less information keeps you vulnerable and more information creates
apprehensions. Hence, adequate amount of information must be available to make
right decisions. In this regard, Colin
Powell’s 40-70 Rule is ideal to make easy, quick and wise decisions.
Making decisions on complex issues is
a major challenge for leaders. You must
have the spine to make tough decisions to resolve long pending issues. My
personal decision-making involves keeping multiple options ready and then I
seek inputs from various reliable sources. I refine my decision from time to time
and implement. I take feedback to understand its impact. If there are any mistakes, I take precautions
to make better decisions next time. I basically go by my head, heart and gut.
If I have complete information, I will go by head. If I have partial information
I go by head, heart and gut. If I don’t have any information, I will go by gut
alone. I am prepared for surprises and
challenges after implementing decisions. Depending on the sensitivity of issue,
I encourage consensus to make all members accountable.
Your personal decision decides your
destiny. Your professional decision decides the destiny of the people in your
professional life. Your social decision decides destiny of the people around
you in the society. Hence, you must be very careful while making your
decisions. You must be more careful while making your professional and social
decisions. To conclude, get the
authentic information from multiple sources, think logically and analytically, foresee
the pros and cons of your decisions, execute it effectively; take feedback to
improve your decision making skills. Remember, all decisions don’t go well as some
are bound to fail. It all depends on your time and timing. Good luck to your successful decision-making!
"Never make an important decision
while you are feeling emotional; either too happy, surprised, or angry.
Similarly, never make a big decision until you have talked it over with people
you trust who are knowledgeable about the matter. Then, be decisive once you
have heard them out." ―Andrés Gluski - President and CEO—The AES
Corporation
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