Decisions should never be made without criteria and they should be based on triple T – Timely, Target and all decisions are temporary, according to a US- based, Sri Lankan management consultant Dr Errol Wirasinghe.
Dr Wirasinghe has specialised in decision-making and strategic planning and is the CEO, XpertUS.com and has authored several book in these areas.
Speaking to the members of the Sunday Times Business Club at the Taj Samudra Hotel last week, Dr Wirasinghe said that in decision-making, a fast changing environment should be considered as human beings are inclined to change – changes in awareness, technology, values, the economy and the environment. There is a drastic increase in the rate of change.
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| Dr Errol Wirasinghe |
He said that earlier in a person’s career there were only one or two changes, but today several career changes are made. Laws on business practices are revised and, he said “In the US 50% change their spouses.”
Changes happen or is initiated. Conflicts are the result of a misalignment of various sub-systems. Problems can be opportunities and even high-level executives do not realize that the techniques needed for problem solving, are quite distinct from those required for decision-making.
Decisions are three-dimensional – criteria , candidates or solution option and the other is multiple decision makers. Dr Wirasinghe pointed out that behavioural scientists have demonstrated that humans have serious mental limitations, and when faced with intractable problems; they simply shift to common sense and gut-feel decisions.
Dr Wirasinghe cautioned never to make a decision without defined criteria and not assign criteria weights using gut-feel and common sense.
A good decision is one that seeks to make the organization effective and efficient in the short-term, and in the long-term. Long-term effectiveness means achieving the purpose for which the organization exists.
The Sunday Times Business Club is sponsored by Taj Samudra and co-sponsored by Hameedias.
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