Join Mike Figliuolo for an in-depth discussion in this video Assessing the greater risks, part of Executive Decision Making.
- Executive decisions typically carry…a much higher level of risk.…Before you make an executive level decision,…understand what those major risks are.…Those risks can include competitive responses…to the decision you make.…Some executive decisions have long incubation times,…to see if the decision was correct.…And if it's not correct, the cost of being wrong…can be much higher.…To the extent possible, quantify these risks…and build contingency plans for each one.…
Also, identify early warning triggers…so you know if the decision is going in a bad direction.…For example, I know of an executive…at a financial services firm,…and they were in charge of operations.…At one point, she decided to build an insourced,…higher cost call center model,…and the basis for that executive decision…was that having an insourced model…would provide better customer service…to the customers of the company.…This entailed thousands of associates being hired,…several buildings were built,…and it was a long term IT project.…
Ultimately, the decision didn't pay off,…
Mike helps you find the data and tools to support your decision, make the call, communicate decisions effectively, and lead your organization through the change. He'll also address common problems that arise from these high-profile decisions: cultural differences, quality of information, trust, and accountability, to name a few.
- Explore methods for communicating more effectively.
- Review decision-making styles to find the best one for you.
- Recognize the right time to declare success.
- Recall how an understanding of inherent biases can help you get the right data.
- Review methods for building trust.
- Explore how to make the right call while assessing risks.