Why? Your ability to argue in favour of your decision will prompt you to formalize and clarify a coherent rationale for your chosen course of action.įurthermore, in the same way everyone has bias, everyone has blind spots. This is especially true if members of your team disagree with you, even if you ultimately don’t follow their advice. Nonetheless, getting your team involved is another reliable step to take when making decisions. We do not know if Lucas or Zuckerberg consulted others when they made the decisions that are now cited as two of the most profitable of all time. Involve Your Team and Get to Know Your Blind Spots Good habits that lead you through a reliable process will let you use your business expertise to its fullest capability.
You will also have the opportunity to develop good habits and reliable processes that will optimize your decision-making skills.īy developing a logical, step-by-step decision-making routine and making a habit of focusing on the fundamental concerns of your situation, your skills can sharpen dramatically.
Making hard decisions mba midterm hao wei professional#
So how do you acquire the skills you need? When you bring your professional knowledge to an EMBA program, you will gain valuable experience and deeper insights.
In your future career, the decisions that affect you, a company and a team, will require the balancing of many factors and necessitate an approach that is logical and systematic, yet open-minded and flexible. Of course, your decisions are also guided and informed by your previous experiences and expertise. Whether you like it or not, decisions are affected by emotions and bias. EMBA Program Students Develop Good Habits and Reliable Processes Not every decision will be so directly linked to exceptional fortune and fame, but as a professional you need to be aware that refining this skill is integral to your success. Fox agreed, and decades later it is impossible not to see the payoff. Lucas made the decision to take a pay cut if he could have the rights to merchandise and sequels. Then there is the case of a young George Lucas being offered $500,000 to produce and direct Star Wars. When Yahoo! offered to buy Facebook for $1 billion in 2006, Mark Zuckerburg decided against the sale, famously stating that if it went through, “I’d just start another social networking site.” By 2019, Zuckerberg’s net worth was reported to be approximately $68.2 billion. Ask ten business professionals what makes someone a good decision-maker and you might receive ten different answers.
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