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StrategyDriven Podcast Episode 11 – Diverse Indicators

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StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles on the StrategyDriven website.

Episode 11 – Diverse Indicators elaborates on Organizational Performance Measure Best Practice 6 – Diverse Indicators. This discussion…

    • defines what diverse indicators are
    • identifies the benefits of using diverse indicators to assess performance
    • highlights the situations during which diverse indicators are needed
    • describes the guiding principles to create diverse indicators

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Decision-Making Warning Flag 1 – Logic Fallacies Introduction

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Complex decisions require executives and managers to synthesize a multitude of variables into meaningful information from which they must choose a course of action. Some executives and managers combine clarity of thought and depth of knowledge and experience with a true understanding of the organization’s goals to identify and select a well founded decision option. Others find their perspective clouded by personal bias, self interest, misinformation, inexperience, and/or a lack of decision-making fundamentals knowledge; falling prey to logic fallacies, the misapplication of logic during problem solving. While a lack of knowledge and/or experience with problem solving may contribute to logic errors, they are typically the product of decision-makers’ underlying desires.

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Additional Information

The following StrategyDriven recommended best practices are designed to reduce the likelihood of erroneous logic being applied during the decision-making process including:

Decision-Making – Evaluating Decision Options, part 3 of 3

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StrategyDriven Decision Making ArticleAlternative selection is the point in the decision-making process where art meets science and academic knowledge meets hands on experience. There is often no one perfect solution or one best solution. Rather, there will exist several alternatives within the acceptable value range from which the decision-maker will ultimately have to choose one option.

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Decision-Making – Evaluating Decision Options, part 2 of 3

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Once a decision’s requirements, important value-adding, and nice-to-have characteristics are defined and various options possessing these qualities evaluated, the total value of each alternative must be assessed in order to enable option selection that will most effectively achieve the desired results.

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Decision-Making – Evaluating Decision Options, part 1 of 3

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Decision-making often involves trade-offs. Risk aversion suggests that all things being equal, decision-makers will select the option having the lowest risk. But because all things are never quite equal, decision-makers concede items they deem to be of lesser value to items they believe hold greater value with risk being one of the commodities considered.

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About the Author

Nathan Ives, StrategyDriven Principal is a StrategyDriven Principal and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.