Assessing, Positioning and Deciding (5)

Source: wikimedia.org

Whenever the scarcity of certain resources becomes pertinent, the game of supply and demand also becomes extreme for certain companies and their customer base. Simultaneously, the competitive intensity between those same companies has also increased.

At this moment, the choice for strategic assessment process and the strategic decision making process have become more significant for Chief Decision Makers. ...

What we have observed is that some Chief Decision Makers have a habit of consciously making an impulsive decision without thoroughly looking at the "Big Tangible Picture." They are focused on opinions not facts. ... (It is one significant topic that will be detailed in a future post.) These decision makers would also occasionally overlook a relevant factor that would negatively affect the bottom line during the completion of the grand objective.

Compass Rule of FOG:

Good decision-making should be based on facts not opinions and gossips.

Afterthoughts

While the upper tier companies can afford these errors., most companies do not always possess the capital and the resources to fix and survive.

Sometimes, bad decisions lead to ruined companies and tarnished reputations.

Do you and your team ever think about the positive after-effects and the negative after-effects of a strategic decision during the grand decision-making session?

{ This post has been updated with new information and some re-edited points. }