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Monday, May 15, 2023

Decision Making: 5 Common Pitfalls to Avoid

Being a manager can be both stimulating and challenging. Transitioning from an individual contributor to a manager comes with the opportunity to influence decision-making processes, implement business strategies, and oversee organizational change initiatives.

It can also increase the likelihood that you’ll make mistakes, as you take on greater responsibility and learn how to manage not just yourself, but others. If leveraged correctly, these professional missteps can become learning opportunities.

Being aware of common pitfalls that managers encounter when facing critical business decisions is a great way to ensure you are equipped with the know-how to overcome organizational challenges and lead your team to success.

Here are several common pitfalls in decision making that should be avoided if you want to be effective.

  1. Deciding alone. There are many benefits to consulting with others on a decision: gaining different perspectives, more resources to draw upon and more commitment to the decision by those consulted.
  2. Every decision a major decision? Not every decision requires a lengthy decision-making process. Don’t get bogged down with minor problems. If they’re minor, make a reasonable decision and move on.
  3. The last time I was wrong was when I thought I made a mistake.” No one is always right. If you’ve made a bad decision, admit it and get started on fixing it. Remember – it’s impossible to force a bad decision into being a good one.
  4. “Boy! I sure wish I hadn’t.” Just the opposite of pitfall #3. Because no one can be right all the time, don’t waste your energy regretting bad decisions. Get on to current issues.
  5. Failing to use past precedent. Maybe the same problem has come up before and been effectively solved. Perhaps, if it has come up enough, there is a company policy that covers it.

Understanding how to leverage and navigate the decision-making process is essential to becoming a better manager. By learning about the common pitfalls that managers encounter when facing important business decisions, you can ensure you’re equipped with the know-how to overcome organizational challenges and lead your team to success.

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