Dun & Bradstreet is a leading source of global business information, which helps companies take decisions with confidence. Kaushal Sampat, President and CEO, gives you quick tips on decision making.
Define the Outcomes
Laying out various outcomes based on different decisions and then ranking them helps you to take an informed call about your preferred decision in crunch time.
Filter your Parameters
These days we are faced with the data paradox. Too much data or information results in confusion and slow decision making. Make sure you filter the data that you gather very tightly based on a few, very specific decision parameters.
Make the Call
With power comes responsibility. If the decision rights are yours, listen to the subject matter experts, but then make the call yourself. Instinct builds confidence.
Walk the Talk
Your credibility is judged by whether you abide by your decisions. Back your calls even if you find the going tough.
Hindsight is always 20:20
Decisions can, and in many cases, will backfire. Sometimes its not the decision per say, but the economic circumstances that don't pan out right. Identify where the fault lies and work on the weaknesses.