Secrets to Effective Decision Making From Some of The World’s Most Powerful Leaders

Decision making is the realm of great business leaders. Although the process itself may only take a small fraction of their time, the quality of those decisions will be the standard by which their leadership is ultimately judged. In making key decisions and taking effective action, it pays to follow this six-step formula.

1 — GATHER CONCISE INFORMATION

The first step to productive decision making is to gather information that is precise and relevant to the opportunity or challenge at hand. Go in with an open mind — have no preconceived notions about the right or wrong way to proceed. Non-leaders use this step to avoid decisions (so called paralysis by analysis). Don’t overdo the information gathering phase. Don’t overanalyze.

Ronald Reagan, like Churchill, insisted that the written information for decision making should be simple, concise, and clear. As governor of California he became famous for his insistence on one-page summaries. These brief overviews would include summaries of pro and con positions along with alternative courses of action. The requirement for brevity enforced upon…