6 Genius Ways to Streamline Business Decision-making Process
The alignment of your company’s decisions will determine its success or failure. When your management and employees streamline their decision-making processes, your company soars because everyone is on the same page, working toward the same goals. Therefore, consider the following tips for streamlining your company’s decision-making.
Share the Company’s Mission, Vision and Values
Open communication about the company’s mission, vision, and values is vital if you want a strategically aligned company. Every staff member’s decisions promote the organisation’s forward movement as a whole. When your staff understands where you want to go and what parameters they should operate within, they understand how their decisions and actions affect your company.
For example, if you value integrity, a staff member will not make a decision that deceives your customers. In addition, if your mission is to produce the best, most innovative widgets on the market, your management will not purchase machinery to make other products without meeting with you and your top management.
Develop a Set Decision-Making Process
As any business advisor will tell you, efficiency determines your business’s success. Therefore, every decision in your company should be based on specific steps or a process. Therefore, the language and decision-making methodology should be the same throughout your company. Your processes should be used by every person in charge of making a decision. For example, you may start with defining the problem. Then, state the company goal, strategy or vision that is directly affected by the decision. Gather and discuss any information or research that is relevant to the issue.
Your next step may be to brainstorm possible solutions and compare them to your company’s goals. Then, make and execute the decision. Always follow your major decisions with an evaluation of whether it moved your company closer to or further from its objectives. If all your staff follows the same pattern, their decisions should be aligned with those throughout your organisation.
Clarify Stakeholders’ Roles
Each person in your company has a specific role. They should understand their responsibilities and how they affect the company’s overall success. When your employees understand their roles, they know whether they are responsible for making strategic company decisions. For example, a front-line worker will not make decisions about purchasing new equipment. This limits the number of people weighing in on major company decisions.
Hold Strategic Meetings
Each meeting should have a specific focus, and each agenda item should be prioritized, discussed, and resolved as quickly as possible. By determining each item’s current impact, timeframe to prevent the excess expense, and future impact, you can identify the most vital items and get them solved immediately.
Issues with low priorities or that will not significantly impact the company can then be delegated or delayed so more important decisions can be made. Also, once a decision is made about an item on the agenda, it should be removed and not discussed again until the results have been evaluated.
Automate the Process
Many business processes can be automated. If you can automate some of your decision-making, you can take some stress off of your employees. Automation frees your employees to do more important tasks and improves their confidence. They realise that their work is valuable and should focus on furthering the company rather than menial work.
When you automate even part of the decision-making process, such as data gathering or developing alternative solutions, your employees have the opportunity to evaluate each decision based on substance rather than theory. For example, if your customers are not responding to a specific marketing campaign, your data will show their lack of interest, so you can quickly move on to other campaign options.
Effective decision-making will directly affect your company’s success and its ability to meet its goals. By following these tips and learning more about streamlining your decision-making process, you can help your company move forward even during a crisis, securing your company’s future one decision at a time.