Join Mike Figliuolo for an in-depth discussion in this video Evaluating highly predictable outcomes, part of Decision-Making Strategies.
- The first state of ambiguity you might find yourself in…is one with highly predictable outcomes.…Let's imagine I'm going to deal you some cards.…I give you the two of clubs, three of clubs,…four of clubs, five, six, seven, eight, nine of clubs.…If I gave you $100 to bet on what that next card would be,…what are the odds you're going to pick the 10 of clubs?…It's highly predictable.…You don't need a lot of incremental information…to say what's going to happen next.…
The next outcome is reasonably easy to forecast,…you require little incremental input…to eliminate that ambiguity,…and decisions can be made with fewer parties involved…because you don't need additional information.…Now let me offer an example of a situation…with a highly predictable outcome,…and how you could react to it.…Let's imagine you have a service,…and you're going to make a very small change…to a long-standing service offering.…
The source of ambiguity is,…how are our customers going to receive that change?…How are they going to react when you make that change,…
- Define types of decision-making styles.
- Explain the benefits of participatory decision-making.
- Identify when to use a consensus-based decision-making style.
- List the components of an RACI matrix.
- Describe how to reduce decision-making risk.
- Implement a decision-making cycle.