Decision Making in challenging situations isn’t easy. The decision on how to approach and respond to a problem varies depending on the circumstances. Decisions necessitate a tailored approach, which should help avoid making a fatal decision with irreparable consequences. The Cynefin Framework is a model to assist in making effective decisions in dynamic contexts. It […]
Tag Archives | decision making
The Viable System Model
Traditional organizational structures and management practices are characterized by a hierarchical model in which control and direction come from the top. These structures and practices have become obsolete and cannot adapt in response to volatile market conditions. Another issue with this traditional hierarchy is inadequate and sporadic communication between the various tiers of the organization. […]
The OODA Loop
Decision Making is critical for every business. Military strategists apply their training and experience to devise battle plans and make quick decisions aimed at achieving specific objectives. Military strategies, concepts, and practices have found widespread application in businesses as well as everyday life. Writings, memoirs, and experiences of famous military historians and strategists—such as Sun […]
Forecasting Uncertainty
The impact of unforeseen crises—such as economic depressions, natural disasters, and black swan events (i.e. the recent COVID-19 pandemic—is immense. Crises can paralyze organizations and economies alike. These times are certainly anything but business as usual for almost all organizations. There are safety concerns everywhere. People have restricted movement, business activities slow down, and cash […]
The Strategic CFO
The Chief Financial Officer (CFO) role has traditionally been a custodian of financial acumen, integrity and shareholder value—selecting indicators to measure organizational growth and ensuring value. Inflation, stricter regulations and governance requirements have caused the CFO position to exist in nearly every organization these days. However, this wasn’t the case in the last quarter of […]
Data Governance Strategy
Data Governance is imperative to create a data-centric, insight-driven organization. Governance is now high on senior leadership’s priorities owing to huge public uproar over data privacy, data disclosures instigating harm to enterprises’ reputation, and stringent regulations. This warrants adopting a careful Data Governance Strategy; since in the absence of one, the huge data being piled […]
Corporate Compliance: Ending Unethical Behavior
Corporate non-compliance is a major issue across the world. Highly public cases involving major corporations point to the fact that the usual descriptions of why business employees perform illegal acts are misdirected. No Compliance Program can completely eradicate unwanted conduct by a few employees. Behaviorally aware programs, however, show potential of realizing the main goals […]
Intelligent Enterprise
In order to contest and survive in this competitive business environment, organizations need to work towards developing a Differential Advantage that others cannot imitate. Organizations, generally, draw Differential Advantage from price reduction, proprietary intellectual property, key talent, or visionary leadership. However, in this age of disruption and knowledge economy, a shared capability to reach evidence-based, […]
Executive Decision Making Acumen
In every organization, there is a consistent need to make timely crucial decisions at all levels. This is critical more so at the strategic level where senior leaders are anticipated to possess a strong ability to make systematic and integrated choices. However, this isn’t simple and there isn’t a straight path to accomplish this either. […]
Strategic Thinking Games
Organizational leadership can draw on 3 Strategic Thinking Games to master Business Strategy and apply in varied scenarios and organizational structures. The Strategic Thinking Games provide Decision Making models for senior executives to choose from and use as per the situation. The Strategic Thinking Games are based on mathematics and statistics, particularly Probability Theory, and […]
Flywheel Strategy
Strategy Development has followed a set path since the last century where a predetermined, rectilinear, and inflexible approach defined the process. In the 21st century, however, business leaders are devising Strategy by evolving it into a probabilistic, repeated, and multifaceted process. An approach that can both endure and adapt to the growing pace of Change […]
Sustainable Digital Transformation
Accelerated pace of technological disruption has forced organizations to change. It has triggered leaders to think of the ways they must adopt to survive in these challenging times. Organizations are confronting this scenario by embracing digital technologies. Traditionally, the focus of the organizations in these Transformation initiatives has remained on speed of change. To get […]
