Join Mike Figliuolo for an in-depth discussion in this video Making the call, part of Executive Decision Making.
- At some point with an executive decision, you're going to have to make the call. Some principles you should think about as you're doing so are, first, be clear about the call being made. Tell people exactly what the decision is. Document that decision, so you have something to true back to. Remember, executive decisions can take a long time to make and see what happens. You'll want a document to be able to go back to and say, here's the decision we made, and here was the underlying rationale.
Layout that rationale including the assumptions you made, the facts you were using to make the decision, and the sources of the information. When things change, you can then go back to that document and perhaps find root errors in the data you had, understand how the market has changed from when you originally made the decision, or you can find new opportunities to make a better decision. Business cases and "board decks" are good documentation vehicles for laying out the call that you've made.
When making the call, do so in writing and disseminate it broadly across the organization. Avoid the problem that happens when you make a decision, you announce it verbally, and then the game of telephone occurs, where somebody was there firsthand and they heard the rationale, then they tell the members of their team, and the rationale changes slightly, and they tell the members of their team, and it changes even more, and by the time it gets disseminated across the entire organization, that rationale can be completely twisted.
By documenting it in writing, and making sure everybody gets the same information, that rationale will be clear. When you announce these major decisions, do so in a group forum, and give people time for Q & A. It's a solid approach to understand what their concerns might be. Let people know how the decision was arrived at, and who was involved in the decision making process. This will help reduce some of the execution risk of people being resistant because they know, "oh, my voice was represented in this decision, so I'm going to be more willing to support it." I know of an acquisition that was done, where when the acquisition was announced, the C.E.O. of the company performing the acquisition went to the company that was being acquired, and it was announced in a large group forum.
He laid out, here's why we're doing this deal, here's how this deal is going to effect your daily life, here's what's going to change, and here's what's not. There was time allowed for Q & A, and people had something they could true back to because the entire organization heard that message from the decision maker at the same time. So, when you're making and communicating your executive decisions, adhere to these principles because you're going to get stronger support for the decisions that you make.
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.
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- Assessing risks
- Making hard choices
- Getting the right data
- Communicating effectively
- Making the call
- Declaring success
- Dealing with problems