How To Make Better Decisions

<p class="p1"><strong>Summary</strong></p> <p class="p2">Decision making and problem solving are significantly important to any leadership role. This week we look at ways to make better decisions.</p> <p class="p3"> </p> <p class="p1"><strong>Transcript</strong></p> <p class="p2">Hello and welcome to episode 192 of the Leadership Today podcast where each week we share practical tips to improve your leadership. This week we look at ways to make better decisions.</p> <p class="p2">To help us make better decisions, we will explore three elements - the inputs, the outputs, and involving others.</p> <p class="p2">First element, the inputs. We tend to use either an analytical approach or a conceptual approach when considering inputs to our decisions. They are distinct cognitive processes, each with their benefits and limitations.</p> <p class="p2">Analytical thinking is a logical and structured approach to problem-solving that involves breaking down complex issues into smaller components and analysing them individually. It relies on data, facts, and evidence to understand the current situation, identify patterns, and draw conclusions. This could include detailed analysis of the financial situation, or exploring current customer data.</p> <p class="p2">Conceptual thinking is a more abstract and creative cognitive process that involves synthesising diverse ideas, connecting disparate concepts, and envisioning new possibilities. It focuses on the "big picture" and the underlying principles or frameworks that shape a situation. This might involve combining products or services together to reach new customers. It could include drawing on lessons from a completely different industry.</p> <p class="p2">Leaders need to employ analytical thinking to analyse data, evaluate risks, and make evidence-based decisions. At the same time, conceptual thinking enables them to envision future possibilities, set strategic direction, and inspire their teams. By leveraging both approaches, leaders can develop comprehensive insights as an inp