The trained business manager makes better business decisions more quickly!
“A man’s judgment is best when he can forget himself and any reputation he may have acquired and can concentrate wholly on making the right decisions.” Raymond Ames Spruance (1886 – 1969), United States Navy Admiral in World War II.
Making great decisions faster improves business performance and businesses management, here’s how:
- Managers need to think faster
- Managers thinking needs to be organised
If you want to accelerate your business and your management decision-making now click on the image (video).
The Science behind Decision Making
There has been a lot of talk about the importance of Emotional Intelligence (EQ) and Intellectual Intelligence (IQ) at work (and in life)with the emphasis on EQ particularly for management and leadership positions.
One way to look at how these relate is to understand how our brain makes decisions. (in simple terms).
Our brain has two parts responsible for our emotions and logic.
The amygdala is the emotional part of the brain, the cortex is the rational.
However the amygdala has 10 times more neurons going to the cortex than it receives. So while the amygdala can send a lot of messages to the cortex, the cortex can’t do much in return.
Information reaches our emotional brain faster than the cortex. Therefore we are hardwired to react emotionally to people and situations (this is heightened in people with emotional issues).
What does this have to do with management?
It’s a common management reality nowadays that “we hit the ground running”, “decisions are made on the go”, “we’re fire-fighting a lot of the time but we’re good at it”.
It’s interesting that it’s almost escalated to a coveted status, a measure of the manager, the yet to be recognised KPI of management output – “Quantity of decisions per 15 min” (the average time managers spend on a single task).
So what actually is happening is that we are restricting the ability of our rational brain to take part in the decision making. A lot of decisions are made on gut feel and not followed through.
What can we do to manage better and make better decisions?
We are certainly not advocating analysis paralysis here, deliberating extensively and evaluating a never-ending stream of options.
The pace of life is only going to get faster so we just need to get our brain to think faster.
The solution is not as simple as we might want it to be but it makes a lot of sense.
The three (3) steps to getting our brain to think faster:
- Accelerate your ability to process information faster
- Improve your brain’s ability to sort and file information
- Accelerate decision making
1. Process Information Faster
You need to accelerate your rational brain’s ability to process information faster:
a. Keep active: exercise sends oxygen to the brain; practice the inverted yoga pose in the office when you’re tired (no, you don’t have to be a Yogi to do so)
c. Build frameworks of information blocks
2. Rationally Sort and File Information
Accelerate your rational brain’s ability to sort and file information:
a. Break down complex information
b. Record and process in manageable chunks – the brain needs focus and clear instructions
c. Use your framework of information blocks
3. Accelerate Decision Making
Improve your rational brain’s ability to make decisions
a. Perform a mental scan of your framework of information blocks
b. Choose your information blocks
c. Make a decision
You might have noticed that there is a common element in all the 3 steps – it is the framework of information blocks.
Put simply this is your accumulated knowledge organised in a specific system which helps you to make sense of the world. It’s a like a big library where everything is stored in a strictly systematised order. The speed and quality of information retrieval from the library will depend on the size and organisation of this library.
The best way to build a strong library inside your brain is through formal, applied management training.
Formal management training provides the building blocks of your brain framework so that every piece of information could be quickly processed and filed for future use and not left circulating aimlessly in your brain space, soon to be cast to oblivion and forgotten forever.
Still not convinced?
Formal training works – here are some examples.
Those of you who love watching crime shows are probably fascinated about the uncanny ability of Profilers and Crime Investigators to work with seemingly unrelated clues and snippets of information to build the crime scene and the picture of the perpetrator.
I’m sure you’ve noticed their use of the white board or even better the glass screen displaying an info matrix which neatly brings all pieces together to spit out the answer in a blink of the eye. As professionals they are trained to use these tools and processes to getter better decisions faster.
Or why is it that if you spent more time and effort on maths at school (because of the evil teacher) later in life you find doing mental arithmetic and calculating your loan interest payment easier than your colleague who thought maths wasn’t their thing.
Why – because you received training.
Yes it does have something to do with the fact that you may have liked maths but more importantly it’s because you built your foundational framework of information blocks through training which then made adding more information to it much easier and faster than if you didn’t have it at all.
The advantage of the formally trained manager: Making great business decision fast every time.
Call 8212 4852 to get your free 30 minute management accelerator assessment and find out how management training can:
- generate a business improvement 30% or more,
– provide a potential cash return on investment of 154% and
– reduce costs by 25%.