Decision-Making in Uncertain Times

June 4, 2009 by Ed Adkins

Has the recession impacted your decision-making for strategic business planning?

One great resource we found lately was Kim Girard’s excellent article titled How to Decide in a Time of Confusion, at Bnet.com.

1. Study Your Business Environment
   Collecting relevant data and putting them them to work is essential to being able to make decisions. Kim lists plenty of practical sources.
2. Build a Plan
   Well, we’re always fans of this route! There’s not a whole lot of info on exactly how to craft a plan but at we do know a pretty good resource for that- you’re on it.
3. Be an Intense Leader
   This step offers a few reminders on maintaining strong communication- which is essential not only for being able to execute your decisions as a manager, but also in maintaining employee engagement throughout the downturn.
4. Strengthen the Team
   Kim offers more management tips here for keeping your team focused and encouraging them to assert themselves.
5. Get Close to Your Network
   Keeping close to your network is essential during a downturn, as highlighted throughout our recession-planning toolkit.

For more info on decision-making, you can check out our own presentation about Choosing your Opportunities Strategically below.

Video

You may also be interested in:

• Harvard Publishing adds a Recession Resource
• Looking Back: What is the best business decision you’ve made over the past 6 months?
• Small Business Owners Sensing the Downturn? Develop a Plan!

Topics in this post: Strategic Business Planning |