Decision making is a critical aspect of business that shapes and defines the very fabric of organisations and the teams that work within them. Normally the measure of decisions is based on the outcomes or results that follow. Less time is spent looking at the decision making process and understanding how an outcome was reached.
As the business world moves at an ever increasing speed, leaders and managers face all manners of hindrances to making decisions. Tools to minimise time; email and other web based resources are juxtaposed to committees and 'forums' or 'focus groups' where in depth feelings and facts can be identified and then built into consensus to form a decision.
The tools to minimise time comes at a cost. Access to every detail down to the minutia, all the time, real time, in time, leads to information overload. Reams and reams of 'data' that often clouds judgement, rather than sharpening or even assisting the very desired result (a decision).
Cutting through the clutter
The speed and accessibility of information can make yesterday's great idea, today's worst nightmare. Cutting through all this 'clutter' and getting down to the essential components of the decision is time sapping and where decisions need to be made quickly and first, this time can ultimately make a bad decision meritable, or render a good decision useless. This is where a sixth sense, one that most of us have experienced, a 'gut feeling' develops.
It is described in many different ways from the rather grand 'intuitive courage' to plain and simple lucky guess. Intuition is certainly a component; its dictionary definition is instructive knowing without the use of rational processes. This definition however, is paramount in us often not trusting our 'gut'. We are programmed to a 'lack of rational process' being inherently risky and avoided at all costs. But there are many examples of gut feelings, hunches and instructive decisions being the right ones.
In one example reducing the time allowed to make a decision improved accuracy from 77% to 95%. This is not to say snap decisions are always the right ones, what is interesting though is over ride that our rational thought processes have over time more instructive intuitive ones. Why though trust your intuition or gut feel?
Trust your instincts
Accepting these instinctive components is essential in decision making best practice. Intuition allows you to clear through clutter and the myriad of information that we are faced with effectively and efficiently. Decisions made entirely on facts ignore an important factor of the feeling or even context of a situation. Trusting your instincts drastically cuts time and in the uber competitive market place, speed = survival.
Sometimes you have to leap and then look without your gut feel and the 'out there' idea innovation becomes nearly impossible. Many areas of business are instinctive, body language and non verbal communication, are common areas where instinctive signals can often be accurately 'read'. Instant feelings shouldn't be ignored, nor should they be the reason for every decision, but must be considered and not dismissed as reactive short-sightedness.
The best leaders, exponents and specialists are often accredited with being intuitive and instinctive. Possessing these animal qualities or using them can be the making of great things. We all possess access to the masses of information but trusting your instincts with what to do with this can help you make the right decisions, more quickly and effectively without fear and self doubt: Go on trust your gut.''
Simon Boulton is Director of accounting and finance recruitment practice Aequalis Consulting. He has more than 12 years of finance recruitment experience in London and Sydney, where he has launched multiple divisions for international companies. At Aequalis Consulting, he provides tailored strategies for companies in various industries to attract and retain the most talented professionals in the market. Visit www.aequalisconsulting.com.au.''
