What is Your Decision-Making Style? | KnowledgeCity скачать в хорошем качестве

What is Your Decision-Making Style? | KnowledgeCity

This video is from the Critical Problem Solving: Solving the Problem online training course. Click here to view full course: https://www.knowledgecity.com/en/libr... As a leader, people will expect you to have sound judgement. And while we want to see progress toward our goals, it’s impossible to always make choices that get perfect results. Instead of focusing on these pressures, it helps to just make sure you have the information, tools, and skills to narrow down your options. When it’s time to make a choice, you can use different approaches, or decision-making styles. An autocratic decision-making style is when a leader makes decisions without seeking input from others. This style is most effective in situations where you have to make quick decisions, such as in crisis management or when dealing with tight deadlines. For instance, during a cybersecurity attack on a company, the IT department head might need to make immediate decisions about shutting down systems or isolating parts of the network without consulting the broader team to prevent further damage. A consultative decision-making style is when a leader seeks input from team members or other stakeholders before making a final decision. This style is valuable when the decision impacts multiple departments or when the decision requires specialized knowledge. A realistic scenario might involve a company considering expanding into a new market. The leader might consult with market research teams, financial analysts, and regional managers to gather insights and perspectives before deciding on the expansion strategy. The democratic decision-making style goes a step further by allowing the team to vote on the final decision. This approach is particularly effective when you want the team’s buy-in or when the decision equally affects everyone. An example of this could be a small startup deciding on which project management tool to adopt. The leader might present a shortlist of options to the team and then hold a vote to choose the tool that best meets the team's needs, ensuring widespread acceptance and use. Consensus-building is a decision-making style that seeks unanimous agreement among all team members before moving forward. While this can be time-consuming, it is highly valuable for decisions that require the team’s commitment. For instance, a non-profit organization deciding on its mission statement might use a consensus-building approach so all team members fully endorse and commit to the chosen mission, as it forms the foundation of their collective efforts. The delegated decision-making style means assigning someone to make the decision, typically someone closer to the issue at hand or with specific expertise. This style is effective when decisions are highly technical or when others can make faster, more informed responses. A realistic example might be a restaurant chain where the head chef at each location decides on the daily specials based on the freshest local ingredients available, instead of centrally making those decisions. And the intuitive decision-making style relies on a leader's instincts instead of on extensive data analysis or input from others. This style can be effective in situations where there is little information available or when you have a lot of experience and expertise that inform your instincts. An example could be an experienced investor deciding to back a startup based on sensing the founding team's passion and the innovativeness of the product, despite a lack of extensive market data. You can tell which decision-making style is right for you by looking at factors like: How urgent the decision is, How impactful the decision is, How much support you’ll need from the team, And how much information you’ll have access to It’s a best practice to be flexible and adapt your style to the situation. For instance, in a high-stakes, fast-paced situation, an autocratic style might be necessary. But when the decision impacts the entire organization and there is time for a thorough evaluation, a democratic or consensus-building approach might be more suitable. For leaders, decision-making requires you to know when and how to apply different styles based on the situation. Being versatile enables you to make effective decisions and give your team the best chance of success. https://www.knowledgecity.com | Online Employee Training Platform. KnowledgeCity offers 50,000+ online video tutorials in Business, Technology, Safety, Compliance, and Finance. Subscribe to our YouTube Channel: http://bit.ly/2gcNXRH Check our Blog https://goo.gl/q47XKK Connect with KnowledgeCity! Twitter https://goo.gl/wToC6s Facebook https://goo.gl/3eMEq9 LinkedIn https://goo.gl/vg1aXt