Decision Centric Thinking

There are thousands of decisions made every day within the typical corporation. These decisions have various degrees of complexity and impact businesses in a multitude of ways. Some decisions such as mergers and acquisitions, strategic initiatives, budgeting, hiring, etc can have significant ramifications on a business’s bottom line.

Not a single company or a single person is immune from making a less than ideal decision. Decisions can go awry for a number of reasons: missing information, significance placed on the wrong information, emotions taking precedence over reason, etc. These poor decisions can costs companies hundreds of millions of dollars every year.

Every single company and every single person also makes great decisions. Great decisions can spur a company into significant growth and can have a positive affect on a corporation’s bottom line. The problem is that while businesses do make great decisions, they counter that benefit with the poor decisions they make.

Decision centric thinking is the act of looking at a business from the perspective of decisions. It will impel the asking of questions such as:

Decision centric thinking is important because the impact that decisions can have on a company’s bottom line is extraordinary. Companies are loosing the ability to differentiate themselves on price, quality, and improved business processes. Finding new ways to cut costs and increase growth is a priority, and the realm of decision making offers us an ocean of opportunity.

Next Wave of Corporate Transformation

Business process improvement and automation has been a focus of many companies for the last decade. Improving quality, cutting costs, and improving customer relationships have driven this effort. To tackle these challenges companies have looked to Six Sigma, business process automation technologies, workflow systems, etc.