How can you balance speed and thoroughness when making executive decisions in a group setting?

As an executive, you often have to make important decisions in a group setting, such as with your board, your senior management team, or your external stakeholders. However, you also have to balance the need for speed and thoroughness, as delaying or rushing your decisions can have negative consequences for your organization. How can you achieve this balance and ensure that your decisions are both timely and well-informed? Here are some tips to help you.

1 Define the problem

The first step to making effective decisions is to clearly define the problem you are trying to solve, the goals you are trying to achieve, and the criteria you will use to evaluate the options. This will help you narrow down the scope of your decision, avoid confusion and ambiguity, and align your group on the same page. You can use tools such as problem statements, SMART goals, and decision matrices to help you with this step.

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Ayokunle Ayoko

Board Advisor | Group Company Secretary | Notary Public | Legal 500 General Counsel | Non-Executive Director | Legal Advisor | 7x LinkedIn Top Voices | Governance Advisor | Chief Compliance Officer | Mentor | Mind Coach
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It is often the case that when it comes to taking tough decisions in a group, most are reluctant particularly if the issue in question comes with wide ranging implications. However, swiftness and decisive action is what sets great leaders apart. It is important to appreciate the damage a lack of decision or swift decision will have on the organization. This will help reinforce the need to make a decision. Thereafter, you may then make that decision dependent on further review and confirmation of assumed parameters. This gives you the time and leeway to confirm that the conditions expected in making that decision is reviewed and confirmed accurate

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2 Gather relevant information

The next step is to gather the relevant information you need to make your decision, such as data, facts, opinions, feedback, and best practices. You should aim to collect enough information to support your decision, but not so much that you get overwhelmed or paralyzed by analysis. You can use techniques such as brainstorming, research, surveys, interviews, and benchmarking to help you with this step.

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3 Evaluate the alternatives

The third step is to evaluate the alternatives you have generated or identified, based on the criteria you have established. You should weigh the pros and cons of each option, consider the risks and uncertainties, and compare the trade-offs and implications. You can use tools such as SWOT analysis, cost-benefit analysis, scenario planning, and decision trees to help you with this step.

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4 Make the decision

The fourth step is to make the decision, based on the information and evaluation you have done. You should choose the option that best meets your goals and criteria, and that has the highest likelihood of success and the lowest level of risk. You should also communicate your decision clearly and confidently to your group, and explain the rationale and evidence behind it. You can use methods such as voting, consensus, delegation, and authority to help you with this step.

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5 Implement the decision

The fifth step is to implement the decision, by taking the necessary actions to execute it and achieve the desired outcomes. You should assign roles and responsibilities, set timelines and milestones, allocate resources and budgets, and monitor and measure the progress and results. You should also communicate your plan and expectations to your group, and provide guidance and support as needed. You can use frameworks such as SMARTER goals, RACI matrix, Gantt chart, and dashboard to help you with this step.

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6 Review the decision

The sixth step is to review the decision, by evaluating the effectiveness and impact of your decision and implementation. You should collect feedback and data, analyze the outcomes and learnings, identify the strengths and weaknesses, and celebrate the successes and address the challenges. You should also communicate your findings and recommendations to your group, and acknowledge and appreciate their contributions. You can use tools such as surveys, reports, debriefs, and lessons learned to help you with this step.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Victor Lawe, PS-MESH, SSGB, MBA

Supreme Safety Officer for the City of Rocky Mount | Authorized OSHA Instructor | Award Winning Toastmaster | Who's Who Honored Listee | Published Author | Safety Award Winner
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If time is truly of the essence take the 70% solution and build in contingencies like stopping work when conditions change to adversely affect your desired outcome. Plan to succeed. Check and double check as you rehearse your plan.

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How can you balance speed and thoroughness when making executive decisions in a group setting?

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1 Define the problem

2 Gather relevant information

3 Evaluate the alternatives

4 Make the decision

5 Implement the decision

6 Review the decision

7 Here’s what else to consider

Executive Management

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How can you balance speed and thoroughness when making executive decisions in a group setting?

1

2

3

4

5

6

7

1 Define the problem

2 Gather relevant information

3 Evaluate the alternatives

4 Make the decision

5 Implement the decision

6 Review the decision

7 Here’s what else to consider

Executive Management

Rate this article

Thanks for your feedback

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