Calgary, AB, Founding three businesses from sole proprietorship to federal incorporation,
Loreen Sherman knows first-hand how the business climate has changed in the last few decades. A major problem within companies is that a high level of environmental uncertainty exists.
With the increasing global awareness and many fundamental changes in technology many leaders want a magic wand to predict change or envision the future. No magic wand exists. The deadliest business skill for leaders is to think that there is. Instead, managerial decision making must be grounded in root and informative market research.
Informative Decisions are Better than Wand Waving. Executive leadership needs to apply causal analysis and this is where the danger lies. Causal analysis is only as good as the inputs. What if an input is missing? For example, the direction that an executive takes in any given quarter is predicated on the financial parameters of the last quarter. Not so, this is only one indicator. Masterful executive leadership knows that many factors must be analyzed. And each factor weighed.
The real reason why companies are in danger is because of the indecision in decision making. Different interpretations of the many factors often lead to disagreement on course of action and to change the direction of a business. The change of activity is uncertain because the wand has been waved but without consequential analysis. In other words, hindsight is better than fore-sight.
How can an executive overcome this problem of not knowing what course of action to take?
The elements in decision making range from operation strategies to tactical employment of supply chain improvements. Benchmarking, market analysis and causal relationships help to attain facts. The supportive information acquired from proper research helps to determine how the problem can be resolved.
Providing direction and sound techniques allows the business leadership stronger support from their followership. Confidence is raised because of the rationalization behind the explanation. Loreen Sherman's leadership development programs are constructed in ways to support business leaders learn how to benchmark.
Decisive market analysis is important because the research provides the foundations for the decisions. The decisions made will impact the outcome of the organization. They must be strong. Therefore, the deadliest business skill to watch out for is the lack of managerial decision making.
Don't let it happen to your organization. Loreen Sherman will help you with this. Contact her for a free 10 minute consultation, or visit loreensherman.com today.
Availability: Alberta, nationwide by arrangement and via telephone. 403.289.2292 or Toll Free 1.877.896.7292.
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