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How can you use the latest decision-making models and tools?

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Decision-making is a crucial skill in any profession, especially in complex and uncertain situations. However, relying on intuition or gut feelings alone can lead to biases, errors, or missed opportunities. That's why you need to use the latest decision-making models and tools that can help you analyze data, evaluate alternatives, and make rational choices. In this article, you will learn about some of the most effective and innovative methods that can enhance your analytical skills and improve your outcomes.

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1 SWOT Analysis

SWOT stands for strengths, weaknesses, opportunities, and threats. It is a simple but powerful tool that can help you assess the internal and external factors that affect your goals, projects, or strategies. By identifying and prioritizing the positive and negative aspects of your situation, you can leverage your strengths, overcome your weaknesses, exploit your opportunities, and mitigate your threats. You can use a SWOT matrix to organize and visualize your analysis, and then use it to guide your decision-making process.

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Sacha C.

Research Consultant, NeuroLeadership Institute | Neuroscience and strategy for business growth.
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SWOT is also a reflective tool. It demands self-awareness, pushing entities to be introspective. One tip is engaging in “reverse SWOT” sessions. Instead of looking inward, challenge teams to predict the SWOT analysis of competitors or partners. This exercise enhances strategic positioning.

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2 Decision Matrix

A decision matrix is a tool that can help you compare and rank multiple options based on different criteria. It can help you simplify complex problems, quantify your preferences, and avoid subjective judgments. To use a decision matrix, you need to list your options as rows and your criteria as columns. Then, you need to assign weights to each criterion based on its importance, and score each option based on how well it meets each criterion. Finally, you need to multiply the scores by the weights and sum them up for each option. The option with the highest total score is the best choice.

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3 Cynefin Framework

The Cynefin framework is a model that can help you categorize problems based on their level of complexity and uncertainty. It can help you choose the appropriate decision-making style and approach for each situation. The framework divides problems into five domains: simple, complicated, complex, chaotic, and disorder. Each domain has its own characteristics, challenges, and best practices. For example, simple problems have clear causes and effects, and can be solved by applying best practices. Complex problems have unpredictable and emergent patterns, and require experimentation and adaptation.

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Claudia Rebeca Jiménez Pérez

Leadership | Process Optimization | CSM? | CSPO? | PSM I | PSD I
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Using Cynefin could help you identify what do you need to navigate the challenges. Options can range from looking for domain experts, embracing experimentation and analyzing results, implementing best practices, or just act and solve. For example, a few people on your team resigned, what's the impact? You can review the throughput of your team, analyze their skills, and most frequent requests and then decide if you really need a backfill. In this case, we can be talking about a simple situation. Now, let's say that you will be starting a new product development with AI and none of your team has the skill. This means you need to find a SME that has the skill and bring it to your team, this would be a Complicated domain.

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4 WRAP Model

The WRAP model is a method that can help you avoid common decision-making traps and biases. It stands for widen your options, reality-test your assumptions, attain distance before deciding, and prepare to be wrong. It can help you generate more alternatives, gather more evidence, gain more perspective, and anticipate more scenarios. By following the WRAP model, you can make more confident and informed decisions, and reduce the risk of regret or failure.

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Sacha C.

Research Consultant, NeuroLeadership Institute | Neuroscience and strategy for business growth.
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In an era where information overload is common, this model brings the much-needed reminder that discernment, not just data, drives wise decisions. “Cognitive Check-ins” post decision-making, where teams taps into the unseen psychological drivers that might've shaped their choices. This ritual ensures not only accountability but also continuous refinement in judgment skills.

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5 OODA Loop

The OODA loop is a tool that can help you make faster and better decisions in dynamic and competitive environments. It stands for observe, orient, decide, and act. It can help you collect and process relevant information, analyze and update your situation, choose and execute your action, and monitor and adjust your feedback. By using the OODA loop, you can improve your situational awareness, agility, and responsiveness, and gain an edge over your opponents or rivals.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Sacha C.

Research Consultant, NeuroLeadership Institute | Neuroscience and strategy for business growth.
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As the business environment becomes increasingly complex, relying solely on traditional decision-making models might not suffice. While the latest tools offer advanced solutions, their efficacy hinges on how well they're integrated with an organization's unique context. To truly leverage the power of the latest decision-making models, organizations should consider running pilot tests on select projects. This allows for real-time feedback on tool efficacy, potential areas of refinement, and ensures that the tool isn’t just new, but also relevant and effective.

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How can you use the latest decision-making models and tools?

1

2

3

4

5

6

1 SWOT Analysis

2 Decision Matrix

3 Cynefin Framework

4 WRAP Model

5 OODA Loop

6 Here’s what else to consider

Analytical Skills

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How can you use the latest decision-making models and tools?

1

2

3

4

5

6

1 SWOT Analysis

2 Decision Matrix

3 Cynefin Framework

4 WRAP Model

5 OODA Loop

6 Here’s what else to consider

Analytical Skills

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感谢您的反馈

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