The longer I’ve been around companies, the more I really believe the words “Planning” and “Decision” are hardly ever used within the exact same sentence! And the enterprise fallout happens mainly because of poor planning when making decisions is staggering.
The consequences of a decision gone bad have a tendency to linger around for months and even years. It really is a reality that most businesses fail for the reason that they did not make very good decisions.
With so much riding on your ability to make the right decisions, it is prudent to brush up on the technique of decision making along with the process involved in preparing to make them.
Planning makes it possible for a choice to be made on your terms and in a much more comfortable and smart way.
It allows you the time to take into account several possibilities without the last minute hurry.
There are certainly four advantages to decision-making for your organization:
1. PLANNING ALLOWS YOU TO SET THE OBJECTIVES YOU WANT.
That means you are not so much preoccupied with the external events that do not relate to what you are attempting to accomplish. Numerous decisions are improperly made based on things that steer one’s life rather than making a conscious effort in turning into proactive decision-makers.
2. PLANNING PROVIDES AN EFFECTIVE WAY TO MEASURE SUCCESS.
The plan of action is to calculate how close (or far) you will be from accomplishing your objective. This measure is significant due to the fact it can show you immediately whenever you are off course and will need to make adjustments and modifications.
3. PLANNING MODIFICATIONS: THE “DO” TO THE “GET”.
Planning changes ideas, values and activities into action. Planning isn’t the end result; it really is the tool to transform the thought into a particular action or actions. Planning helps you convert your business’s goals into your individual goals and may help you get results.
Remember, most firms pay you for action NOT activity. It’s not the “do” it really is the “get” that makes the difference.
A good plan is to keep what you’re trying to accomplish within the focus all the time. Ask yourself is what you are “doing” now “getting” the results you are responsible for?
4. PLANNING HELPS SET ASIDE YOUR RESOURCES IN AN EFFICIENT MANNER.
Few organizations have unlimited resources. A good plan helps you maximize the resources you might have.
Don’t forget, dollars are not your only resource. Recourse that you may need to manage includes: people, tools, assets and company propriety information.
By consulting your plan frequently, you are able to see concerns prior to they become concerns and you may shift available resources to pay for the unexpected issues.
Planning to make a decision can be a perfect example of the Pareto principle. It is the idea that by doing 20% of work you can generate 80% of the advantage of doing the entire job.
Pareto analysis is really a formal method for finding the changes which will give the biggest benefits. It is useful where many possible courses of action are fighting for your attention.
Maybe by investing 20% of your time thoroughly planning your next decision could help you save 80% of your time.
You will discover numerous strategies you may use for planning. Words like Strategic, Tactical, and Operational could come to mind.
However, these are particular planning procedures. Each has their place within business.
Why don’t you give it a try? Do you have specific requirements that will need to be sorted out? Are you considering going public?
Originally posted 2011-06-02 02:51:10.