From the course: Executive Decision-Making
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Downsizing
- One more example of executive decision making gone right relates to downsizing and layoffs. I'm familiar with a health services provider that had multiple facilities in their network and they were struggling financially. Their only option was to close some facilities and layoff a lot of associates. What they got right in terms of executive decision making principles was first, they clearly defined the decision making body. They said, "Here are the people "who are going to make this call "and it consists of the Board of Directors "as well as several people from the operations." The second principle they applied was they gathered extensive input from associates. Next, they used the right tools. They built several models to tell them what the outcome of this decision could be, both short term and long term. Last, they were rigorous around their data. They made sure they had the right information from multiple sources so…
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