Here's how you can mitigate the risks of poor decision-making in a strategic context.

Data gathering is like preparing for a culinary masterpiece; you need all the ingredients before you start cooking. This means collecting both the hard numbers and the soft insights. Sales figures? Check. Customer feedback? Double-check. With a full pantry of data, you can spot trends and cook up decisions that are realistic and robust. Remember, assumptions can lead to recipe disasters. Always base your strategies on solid data to avoid any sour surprises. #DataDriven #DecisionMaking #BusinessInsights

To mitigate the risk of poor decision making, you can implement several strategies and practices: Gather and Analyze Information: Ensure you have comprehensive and accurate information before making a decision. Use data analysis tools to evaluate potential outcomes and risks. Involve Diverse Perspectives: Consult with a diverse group of stakeholders to gain different perspectives. Encourage open dialogue and debate to uncover potential issues and solutions.

En la experiencia que he tenido en la toma de decisiones es tener datos consolidados y listos para evaluar los aspectos cuantitativos, también debemos realizar una análisis un análisis de segmento en el que operamos y de nuestro contexto asimismo es importante trazar metas reales y crear estrategias que sean sostenibles en el tiempo, es importante mencionar que los análisis predictivos nos ayudan a poder crear escenarios y estar consientes a los riesgos que se pueden estar expuestos.

Conduct a comprehensive data review to identify all relevant elements and information. This ensures a better understanding of the situation and facilitates the identification of all potential risks.

Gather Information: Make sure you have all the relevant information before making a decision. This includes: 1- data 2- expert opinions 3- potential outcomes.

Pour atténuer les risques d'une mauvaise prise de décision stratégique : Collecte de données : Obtiens toutes les informations nécessaires de sources fiables. Analyse rigoureuse : Utilise des outils comme SWOT et PEST pour évaluer les implications. Consultation des parties prenantes : Implique l'équipe et les parties prenantes pour des perspectives diverses. Scénarios de planification : Prépare des plans de secours pour différentes situations. Réévaluation continue : Surveille les impacts et ajuste la stratégie si nécessaire.

Taking proper care of the quality of the information gathered on the subject is the first and most fundamental step in decision-making.

Tener información precisa y confiable es muy importante para una correcta toma de decisiones, por esto es muy importante que tú equipo de trabajo tenga las competencias necesarias para recolectar, procesar y preparar la información de manera rápida eficaz que te permita tomar dichas decisiones en el momento adecuado.

Una buena estrategia debe de ir en el sentido de los objetivos que se quieren lograr para no tener fracasos en los que muy difícilmente se pueden reponer.

Based on the analysis of the information, identify all potential decisions to be made. Evaluate the outcomes for and potential risk of each decision.

En esta parte del proceso de la toma de decisión es importante comprender que a pesar de que la decisión dependa de ti, puedes apoyarte en un equipo multidisciplinario para evaluar a profundidad que esta atiende los objetivos a alcanzar. No necesitas ser experto en todo, pero si debes tener la capacidad de guiar a tu equipo y formar un equipo que atienda dichas necesidades.

En contextos normales, donde se cuenta con tiempo suficiente, por supuesto que el mejor camino es un exhaustivo análisis y recopilación de datos. Sin embargo, muchas veces nos falta tiempo para la estrategia y debemos recurrir a la táctica, especialmente en entornos competitivos donde no solo está en juego la rentabilidad, sino también (y en algunos casos más importante) nuestra cuota de mercado. En esos momentos decisivos es donde el equipo cobra importancia y las decisiones deben tomarse rápidamente. Aunque el análisis detallado es ideal, en situaciones de alta competencia debemos ser ágiles y apoyarnos en la experiencia y el conocimiento del equipo para actuar eficazmente.

Evaluar los riesgos nos ayudan a tomar acción de manera preventiva, analizar detenidamente su probabilidad e impacto que puede tener no solo financieramente sino temas reputacionales que pueden dañar significativamente la imagen de la empresa y este tipo de daños son muy difíciles de corregir porque es una percepción que tienen las partes interesadas externas.

Following the risk assessment, categorise risks as low or high, develop potential control measures for each. These controls should then be rigorously tested to identify any weaknesses. For high-risk scenarios, additional control measures could be implemented.

Risk Analysis: Conduct a risk analysis to identify potential risks associated with each decision. Assess the likelihood of risks occurring and their potential impact. Risk Management : Develop a risk management plan to address potential risks. This may involve implementing preventive measures or creating contingency plans.

Risk analysis is essential when making strategic decisions. Despite the quality of collected data, it's important to recognize that data is never complete. Moreover, strategic decisions are inherently forward-looking, whereas data is derived from past events. This temporal disconnect means we are always vulnerable to "black swans" – unexpected events with significant impact. Given these uncertainties, strategic decisions must rely on assumptions, which are inherently uncertain. Conducting a thorough risk analysis involves critically examining these assumptions. By doing so, we can better prepare for potential risks and make more informed decisions.

Toda decisión implica una gran responsabilidad con sus pros y contras, es importante evaluar y tener planes de contingencia para mitigar los riesgos que se puedan materializar, pero no se debe tener temor en las decisiones que te lleven a buscar nuevos caminos.

In my experience, I've always appreciated using the Eisenhower matrix alongside the SWOT analysis. Recently, a reinforcing tool I've found incredibly helpful in providing clarity on which path to take is setting SMART goals. Although it may seem tangential, defining where I want to go is crucial for ensuring everyone has aligned expectations and knows precisely how to get there. What's clear in your mind may not be as evident to another team member, which can lead to conflicts and hinder collective efforts toward the same goal. Making decisions based on data and following a step-by-step approach are essential for ensuring everyone understands where they are, where they're headed, and most importantly, which path to take to reach the goal.

Develop decision-making frameworks that have anchored in the previously agreed-upon controls. These frameworks should ensure enough checks are completed at various levels of the decision-making process.

In the finance industry, SWOT analysis is vital for decision-making. It highlights the potential strengths and weaknesses of a project and identifies areas needing immediate process improvement.

Take a day or two to pause before making the final decision. This will give you ample time to weigh all the information gathered, identify possible threats, and strengthen your current advantages. Align your plan with your vision and adapt to current trends.

Conduct a thorough review of the decision-making framework by engaging with a diverse group of stakeholders. This process will ensure all relevant elements are considered.

• Shift from intuition to evidence-based approaches with reliable information and diverse perspectives. • Build teams with varied expertise to leverage different viewpoints and strengths and assign roles based on individual skills. A strong skills match is crucial for leveraging individual strengths and maximising team decision-making competencies and performance. Team members with complementary skills can collaborate effectively and achieve better results. • Employ objective, analytical, and hypothetico-deductive approaches. • Overcome obstacles such as information credibility, personal biases and time pressures. Balance timely decisions with thorough analysis and prioritise critical information. • Promote a culture of challenge

Synergy. Ensuring everyone's perspective is heard builds trust and respect. It's essential to genuinely understand their thoughts, as they can add valuable insights to the final decision.