Could you provide advice for business leaders and decision-makers? For example, could we focus on increasing their confidence in decision-making?

As business leaders we know a lot about our businesses, we may have a Vision and a Strategy and we may have monthly, quarterly or annual targets.  However, we cannot predict the future, regardless of the work we put into analysing our market, our competitors and social-economic factors or risks. Sometimes we make decisions by committee, slowing down or missing opportunities.  Sometimes we make decisions from our heart or centred with more emotion, these may not have considered all relevant factors or risks.  

It is important business leaders have confidence in their decision making, just because a decision that you previously made didn’t work, it doesn’t mean all or any future decisions won’t work.

You employ a range of professionals and operators who are doing their roles day to day and they often have the best answers to improving their roles or ideas for improving the business, you just need to create time and space to listen to inform future decisions.     

It is important that decisions continue to be made so the business can continue to innovate and change and drive forward.  It can be unhealthy for businesses if leaders stop making decisions.  Business Leaders should have the confidence to make decisions and deal with the impact of these.  

Is there a quote you particularly like or a business leader you like?

“No plan Survives first contact with the enemy. What matters is how quickly the leader is able to adapt.” – Tim Harford