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Executive Decisions: Improving Choices in a Speedy World

Executive Decisions: Improving Choices in a Speedy World

Decisions are everywhere. The trademark of these days is that every person is burdened by choices and pressed to make decisions that satisfy an increasing number of other people at a pace that is hard to keep up.

This presentation will give you five pointers based on scientific findings to take your decisions (personal, financial, professional) to new heights increasing your ability to lead others, reduce stress and ultimately reclaim life.

Decisions are everywhere. The trademark of these days is that every person is burdened by choices and pressed to make decisions that satisfy an increasing number of other people at a pace that is hard to keep up.

This presentation will give you five pointers based on scientific findings to take your decisions (personal, financial, professional) to new heights increasing your ability to lead others, reduce stress and ultimately reclaim life.

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Executive Decisions: Improving Choices in a Speedy World

  1. 1. Global Marketing Andre Piazza @AndreAtDell http://linkd.in/andrepiazza Andre Piazza @AndreAtDell
  2. 2. Why decisions matter today more than ever? • Pervasive • Increased access to information • Variety of options • More stakeholders • Pressure to decide faster • Limited ability to make decisions daily Executive Decisions: improving choices in a speedy world @AndreAtDell 2
  3. 3. We make a variety of decisions through life Lifecycle – Education – Transportation – Health – Housing Professional – Career – Employment Financial – Savings – 401K Lifestyle – Family – Romantic Routine – Do / don’t; go / no go – Priorities Civic – Elections – Jury Duty – Military Executive Decisions: improving choices in a speedy world @AndreAtDell 3 24
  4. 4. Our quest for great decisions Executive Decisions: improving choices in a speedy world @AndreAtDell 4 poor decisions great decisions
  5. 5. What is a great decision? 1. Achieve goals 2. Aligned with beliefs, values 3. Addresses (implicit, explicit) expectations from everyone involved in various degrees… hopefully as close to expectations as possible Executive Decisions: improving choices in a speedy world @AndreAtDell 5
  6. 6. Why Smart Executives Fail? Source: Dr. Sydney Finklestein, PhD “Why Smart Executives Fail?” Executive Decisions: improving choices in a speedy world @AndreAtDell 6 1. See their companies as dominating their environments 2.No boundaries between personal / corporate interests 3.Seem to have all the answers 4.Ensure 100% worshipers, ruthlessly eliminating anyone else 5.Excessive efforts to develop an image 6.Treat intimidating obstacles as temporary impediments 7. Return to the recipe that made them successful in the first place
  7. 7. Simplistic answers don’t guarantee success 1. See their companies as dominating their environments 2. No boundaries between personal / corporate interests 3. Seem to have all the answers 4. Ensure 100% worshipers, ruthlessly eliminating anyone else 5. Excessive efforts to develop an image 6. Treat intimidating obstacles as temporary impediments 7. Return to the recipe that made them successful in the first place Don’t be arrogant Don’t be self-serving / self-centered Think before you decide Be inclusive; Don’t be evil Focus on action Don’t underestimate the obstacles Don’t be a one-trick pony Executive Decisions: improving choices in a speedy world @AndreAtDell 7
  8. 8. there’s more to this quest than just avoiding bad behaviors poor decisions great decisions Executive Decisions: improving choices in a speedy world @AndreAtDell 8
  9. 9. 5 tips for great Executive decisions W R A P P Executive Decisions: improving choices in a speedy world @AndreAtDell 9
  10. 10. 5 tips for great Executive decisions Widen your options Reality-test your assumptions Attain emotional distance Prepare for success (or failure) Pursue a process Executive Decisions: improving choices in a speedy world @AndreAtDell 10
  11. 11. 5 tips for great Executive decisions Executive Decisions: improving choices in a speedy world @AndreAtDell 11 options validate implicationschallenge sustainability
  12. 12. Widen your options • Focus on creating alternatives • Avoid a narrow frame Executive Decisions: improving choices in a speedy world @AndreAtDell 12
  13. 13. Widen your options Avoid a narrow frame FROM: Should I do < A >: yes or no? Should I do < A > or < B >? • are you solving the right problem? • limited to 1 course of action TO: What If I do < A > and < B >? • creates options • enables multi-tracking: multiple courses of action ALTERNATIVE: What’s the best way to achieve < goal >? Executive Decisions: improving choices in a speedy world @AndreAtDell 13
  14. 14. Reality-test your assumptions • Develop early warning systems • Prototype early Executive Decisions: improving choices in a speedy world @AndreAtDell 14
  15. 15. Vote: choose to hear a story from the career of Bob Dylan David Bowie Van Halen Executive Decisions: improving choices in a speedy world @AndreAtDell 15
  16. 16. Van Halen’s contract in the 70s demanded a bowl with no brown M&Ms available backstage. Penalty was forfeiture of the contract. This ingenious early warning system checked if venue would meet band’s sound & safety requirements. Executive Decisions: improving choices in a speedy world @AndreAtDell 16 Reality-test your assumptions Early warning systems
  17. 17. Reality-test your assumptions Prototype early Executive Decisions: improving choices in a speedy world @AndreAtDell 17
  18. 18. Attain emotional distance • Challenge your own biases • What would you tell a friend to do? • Empathize first • Check the facts Executive Decisions: improving choices in a speedy world @AndreAtDell 18
  19. 19. Attain emotional distance A word about the very nature of decisions 1. Decisions are primarily emotional processes 2. Illuminated by facts, experience, intuition, knowledge 3. With the backdrop of circumstances To improve your decision-making skills, you need to learn to effectively navigate each of these elements Executive Decisions: improving choices in a speedy world @AndreAtDell 19
  20. 20. Attain emotional distance "People seldom do what they believe in. They do what is convenient, and then repent." Bob Dylan Executive Decisions: improving choices in a speedy world @AndreAtDell 20
  21. 21. Attain emotional distance Challenge your own biases Executive Decisions: improving choices in a speedy world @AndreAtDell 21 Your Bob Dylan choice Halo effect
  22. 22. Attain emotional distance Challenge your own biases Executive Decisions: improving choices in a speedy world @AndreAtDell 22 Your David Bowie choice eCommerce and Retail
  23. 23. Attain emotional distance What would you tell a friend to do? WHAT: solution WHY: narrative MOTIVATIONS: goals beliefs values priorities Tip: Elicit the deeper levels, and use that information for persuasion and influence Executive Decisions: improving choices in a speedy world @AndreAtDell 23
  24. 24. Attain emotional distance Empathize First Brené Brown: The Power of Empathy (2:53) David Wallace: This is Water (9:22) Sheena Iyengar: The art of choosing (24:08) Executive Decisions: improving choices in a speedy world @AndreAtDell 24 Ivy Brashear: Empathizing w/ opposing party
  25. 25. Attain emotional distance Check the facts Example: Performance Dashboards Executive Decisions: improving choices in a speedy world @AndreAtDell 25
  26. 26. Prepare for success (or failure) • Fallback positions • Contingencies • Entry and exit strategies • Learning from failure The First 90 Days: Proven Strategies for Getting Up to Speed Faster and Smarter by Michael D. Watkins Executive Decisions: improving choices in a speedy world @AndreAtDell 26
  27. 27. Pursue a process The higher… • the stakes • the length of the decision • the number of people involved … the more you need a process to decide Ask HOW to understand: - criteria - sequence of steps - define responsibilities - duration Executive Decisions: improving choices in a speedy world @AndreAtDell 27
  28. 28. Pursue a process (cted.) It doesn’t have to be like this… Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 28
  29. 29. Pursue a process (cted.) In general: the simpler, the better TIP: For simple yet ingenuous solutions, establish: 1. triggers 2. rules of engagement 3. team operating agreement Process ensures transparency and alignment with everyone involved Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 29 SAMPLE: Team Operating Agreement results in a team
  30. 30. Pursue a process - example Ben Franklin’s decision making process 1. List the PROS, and apply weighted averages 2. List the CONS, and apply weighted averages 3. Sum both 4. Decide based on higher score Advantages: • Simple • Quickly determines the best choice Limitations: • Narrow frame • Prone to biases • Doesn’t scale to complex decisions Executive Decisions: improving choices in a speedy world @AndreAtDell 30
  31. 31. Pursue a process – Venture Capitalist “I have struggled with the sell decisions over the course of my career. I have held on way too long and watched a stock literally go all the way to zero without selling it (ouch). And I have made the even worse decision of selling too soon and watching a stock go up 3-5x from where I sold it. So where I have landed on selling (decisions) is to make it formulaic and systematic. We also let the people know that is our policy so they are not surprised by it. It takes the emotion out of the decision and it works better for us.” @FredWilson Source: http://avc.com/2016/10/selling/ Executive Decisions: improving choices in a speedy world @AndreAtDell 31
  32. 32. Recap: our journey great decisions, today poor decisions great decisions Executive Decisions: improving choices in a speedy world @AndreAtDell 32
  33. 33. 5 tips for great Executive decisions Widen your options Reality-test your assumptions Attain emotional distance Prepare for success (or failure) Pursue a process Executive Decisions: improving choices in a speedy world @AndreAtDell 33
  34. 34. Thank You Andre Piazza @AndreAtDell http://linkd.in/andrepiazza @AndreAtDell Linkedin.com/in/AndrePiazza "The energy of a Sales maker, the brains of an Engineer" Andre Piazza Slideshare.net/Apiazza Medium.com/@Apiazza
  35. 35. Bibliography A Leader’s Framework for Decision Making by David J. Snowden and Mary E. Boone Decisive – How to make better choices in life and work by Chip & Dan Heath Why Smart Executives Fail by Sydney Finkelstein Executive Decisions: improving choices in a speedy world @AndreAtDell 35

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