Join Mike Figliuolo for an in-depth discussion in this video Planning for long-range impacts, part of Executive Decision Making.
- Executive decisions are typically made…in a highly ambiguous environment.…It's tough to predict the future.…This means you have to build scenarios,…and contingency plans.…That's a requirement in this highly ambiguous environment.…Some of the scenarios you need to lay out…will lay out multiple likely possibilities.…This includes competitor reactions.…How are they going to react…when you make a change in the market?…You need to consider scenarios of market changes,…like a recession, and how that could impact the decision.…
Also look at some regulatory changes that could occur.…One simple piece of legislation…can make something go from a great decision…to a horrible one.…Lay out these contingencies and describe…very clearly, early warning indicators.…So think through, if this scenario is going to happen,…how can you predict it…before that change comes to fruition.…Think through the actions you'll take…based upon those early warnings.…If you're seeing indicators, for example,…of legislation going through,…what actions can you take as far as your decision goes,…
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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- 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.