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Making Effective Business Decisions

Exclusive - Maximize your ability to think strategically, make better decisions, and improve business results.

As pressure to make better data-driven business decisions increases and the amount of data available continues to grow, leaders need to be able to think strategically and use the right information and approach to make decisions and optimize outcomes. The challenge is that there are many factors that can negatively impact your ability to make good decisions. Knowing what data is most relevant and understanding how personal biases and tendencies can positively and negatively impact results is critical to success.

In this workshop, you will gain the insight you need to maximize your ability to think strategically and make better decisions. Learn how to apply practical tools and models to improve the outcomes of your decisions.

GK# 4516 Vendor# HIL-MEBD
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Who Should Attend?

Leaders at all levels—vice presidents, directors, managers, and supervisors

What You'll Learn
  • Strategic thinking, your thinking style, and your decision-making style
  • Biases in strategic thinking and decision making
  • Reaction to feedback about your decisions
  • How to use data to make better decisions
  • Tools to structure problems and make better decisions

Course Outline

Introduction

  • What is an Effective Business Decision?
  • Common Biases in Decision Making
  • The Analyze-Decide-Act (ADA) Framework

1. Analyzing the Situation

  • Step 1: Define the Decision
  • Step 2: Gather and Analyze Data
  • Three Steps to Identifying the Right Data
  • Turning Data into Insight

2. Decision Making

  • Decision-Making Approaches and Styles
  • The Decision Analysis Model
  • Identifying Alternative Options
  • Priority Matrix

3. Maximizing the Results

  • Monitoring the Results
  • Assessing the Impact of Your Decision
  • Getting Feedback from Others
  • Biases that Impact Reflection or Reactions to Feedback

4. Summary and Action Plan

 

Perform Phase

  • Perform Phase Overview
  • Your Challenging Scenario Feedback and Reflection

Prerequisites

Prework for this course should be completed one week in advance and brought to class.

Foundational people management is recommended but not required.

Though not a formal prerequisite, we strongly recommend students complete Active Leadership (8943).

PDUs

This course qualifies you for the following PMI® Professional Development Units (PDUs):

Classroom Live and Virtual Classroom Live

  • Strategic and Business Management = 4

Follow-On Courses

The High Impact Leadership series of courses will help leaders succeed in today’s complex environment and teaches the skills, knowledge and competencies required to positively impact team performance, contribute to organizational results, and drive innovation to positively impact customers and even their industry.