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The Quintessential Survival Guide in the Corporate Quagmire! | |
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Burger on a Bun Decision Making
When approaching any decision, it's important for individuals to maintain the healthy state of openness called for by WYSINWYG (what you see is never what you get). Remember that there is always more going on than simply meets the eye. Calling on all the skills, strengths and resources that are accessible, though not immediately apparent will produce vastly better results. Secondly, individuals should strive for balance in both their data gathering and their decision-making. Many factors can influence a final decision, not the least of which is emotion. Strong emotion easily clouds the process and can result in extreme solutions. Sometimes extreme measures will be called for, but generally they are not. Decisions that weigh both objective and subjective data and strike an effective balance are likely to succeed. Finally: keep it simple. Begin with what you know. Reduce the complex to the direct. Set clear goals and implement straightforward plans. Whether making decisions as an individual or as a team, the three principles provide the foundation for creating effective solutions. In order to make a decision we first gather information and then make judgements about that information. This is true whether we are making personal or team decisions. But team decision-making is definitely more complex. For one thing, seven people on a team will initially bring seven different points of view as well as senses of priority, commitment and urgency. These and other complexities require that teams pay careful attention to the three-part structure of a team decision. Let's start with the actual decision point. A wide range of data has been gathered and both objectively and subjectively analyzed. It's time to choose, and you do. Is that it? Has the decision been reached? Can we go home now? Not yet. The decision point is really just the burger on the bun. It's literally sandwiched between two equally important elements in the process of reaching a final decision. The decision point is always preceded by your first impressions. These impressions derive from your data gathering and from your previous experience with the subject. Often first impressions will determine the outcome of your final decision because they'll shape how you assemble and analyze the information to begin with. Next element in the anatomy of a decision is the decision point itself and is produced as the result of active discussion. This is the culminating point of your efforts. It may occur entirely in your own mind for a personal decision or in a team's primary forum, the meeting. Meetings are an incredibly dynamic forum and reflect WYSINWYG and Chaos at their utmost. They are WYSINWYG in that more is always going on than meets the eye and chaotic in that there are profound behavioral paradigms active just out of sight. The final element of the anatomy is second thoughts. Second thoughts refer to the ideas, attitudes and opinions that you have following the decision point. Just because you've reached a decision doesn't mean you'll stick to it. Second thoughts run from, "I wish I'd said?" to the notorious "buyer's remorse." The extent to which first impressions and active discussion are effectively managed will determine the magnitude of second thoughts. The good news is that each of these three elements can be managed. When the underlying paradigms are recognized and employed as decision-making assets, extraordinary results will follow. George Ebert is the President of Trinity River Seminars and Consulting, a firm specializing in the custom design and delivery of team building, personal growth and ethical development programs. Mr. Ebert is a highly sought after speaker, educator and consultant with over thirty years experience in both the public and private sectors. He has presented widely throughout the Unites States. He is the author of the management cult classic, Climbing From the Fifth Station: A guide to building teams that work!
MORE RESOURCES: A look at economic developments around the globe (AP) AP - A look at economic developments and activity in major stock markets around the world Friday: NY's AG isn't backing down from Wall Street probe (AP)
Summary Box: Commodities fall on Greece debt woes (AP) AP - GREEK WOES: Commodity prices fell broadly as a plan to fix Greece's crippling debt crisis remained far from settled, renewing concerns about global economic growth. Most commodity prices fall on Greece debt woes (AP) AP - Commodity prices fell broadly Friday after a plan to fix Greece's crippling debt crisis suffered a setback, renewing concerns about global economic growth. Bernanke urges action to heal housing markets (Reuters) Reuters - Federal Reserve Chairman Ben Bernanke on Friday issued a call to action to restore U.S. housing markets, saying depressed house prices and sales are a serious drag on the economic recovery. Obama call for manufacturing revival a tough goal (AP) AP - President Barack Obama is making a strong election-year push for an economic revival "built on American manufacturing." But he faces an uphill slog, with little consensus even within his own party on how to do it. Gov't on pace for $1T deficit despite January dip (AP) AP - The federal deficit was lower through the first four months of the budget year than the same period last year. Still, the deficit is expected to top $1 trillion for the fourth year in a row, putting more pressure on Congress and President Barack Obama in an election year. Bernanke: Weak housing has hurt consumer spending (AP)
January budget gap shrinks (Reuters) Reuters - The monthly budget deficit narrowed to $27.4 billion in January from $49.8 billion in the same month a year earlier, partly because some benefit payments normally made in January were shifted to December, the Treasury Department said on Friday. Anxiety over incomes hits consumer morale (Reuters) Reuters - Americans felt worse about their personal finances in early February, but rising confidence in the labor market's prospects should help to support spending and the broader economy. Romney appeals to U.S. business with harsh China talk (Reuters) Reuters - Mitt Romney slammed China's "autocratic model" of capitalism in a speech to technology executives on Friday, keeping up attacks on the economic powerhouse days before a visit from a Chinese official expected to be the country's next leader. Housing a "significant headwind" to recovery: Fed's Pianalto (Reuters) Reuters - The housing market is holding back the broader economic recovery now that foreclosures have become "a national crisis," a top Federal Reserve official said on Friday. Exclusive: Future of bank benchmark rate under review (Reuters) Reuters - A global probe into whether banks colluded to set the interest rates at which they borrow money from each other has thrown into question the future of the benchmark they use to price financial products worth an estimated $360 trillion. Bernanke urges action to heal U.S. housing markets (Reuters)
Spain cuts firing costs in new labor reform (Reuters) Reuters - Spain cut severance pay for workers on Friday and watered down collective bargaining rights, giving more power to employers as it attempts to kick start its moribund jobs market and slash Europe's highest unemployment rate. Portugal watches Greek debt drama with foreboding (Reuters) Reuters - Portugal's economy will shrink as much as Greece's this year, according to IMF projections. The two will have identical current account deficits and the red ink in Portugal's budget will be almost as deep as in Greece's. Trade deficit widens to $48.8 billion in December (AP)
U.S. jobless rate projected to fall sharply (Reuters) Reuters - Economists in a survey see the unemployment rate falling much faster this year than previously expected, an improvement in the jobs market that could help President Obama's re-election chances. Consumer mood worsens in February on income worries (Reuters) Reuters - Americans felt worse about their personal finances in early February, even as they saw a light at the end of the tunnel for the jobs market, a survey released on Friday showed. Instant View: Consumer mood worsens in early February (Reuters) Reuters - Americans turned less optimistic about the economy in early February on worries about falling income even as their outlook on the jobs market rose to a record high, a survey released on Friday showed. |
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