Compare courses

ICTD International Centre for Training and Development

Making Successful Business Decisions: Getting it Right the First Time

Available dates

This course has no confirmed dates in the future. Subscribe to be notified when it is offered.

About the course

In today's business environment, professionals deal with uncertainties from every angle as pressure to make the right decisions builds. The ability to make critical, high-impact decisions under less than ideal conditions requires clarity, confidence and decisiveness. This course provides you with the skills to wade through uncertainty to reach well-considered decisions and gives you the necessary knowledge to repeat your success in the future.

Course Objectives

At the end of the course delegates will be able to:

  • Make intelligent decisions with limited time and information
  • Reframe issues to ensure greater problem-solving accuracy
  • Convert conflicting opinions into useful insights
  • Leverage a range of qualitative and quantitative tools to enact your decisions
  • Foster efficient and effective group decision making
  • Ensure decisions are implemented by the organization

Course Outline

Examining the Psychology of Decision Making

  • Analyzing the business environment
  • Evaluating the impact of key business drivers
  • Developing an awareness of issues and risk
  • Reframing the decision landscape
  • The thinking behind decision making
  • Recognizing the psychology of the process
  • Quantifying the risks associated with decision making

Negotiating Conflicting Opinions to Set Direction

  • Delivering results in a group
  • Overcoming the ambiguity and uncertainty of opinions
  • Increasing personal effectiveness through integrative thinking
  • Forging a four-step process to integrate multiple points of view
  • Applying models to get results
  • Facilitating the "Six Hats" theory to decision analysis
  • Removing bias and limited perspective in a group

Balancing Your Skills with Qualitative and Quantitative Techniques

  • Leveraging qualitative analysis tools
  • Performing probability and impact analysis
  • Differentiating between acceptable and unacceptable odds
  • Adopting quantitative financial analysis to back up your decisions
  • Evaluating potential initiatives using a range of tools including net present value (NPV) and return on investment (ROI)
  • Establishing a multistep decisional process
  • Identifying trends in quantitative analysis

  • Facilitating Decisions in Groups and Teams

  • Steering group dynamics to ensure success

  • Managing discussions through affinity analysis

  • Eliciting ideas using the Delphi technique

  • Recognizing group needs through prioritization

  • Mastering the skill of facilitated dialog

  • Working with virtual and remote teams

  • Influencing stakeholders to implement decisions

  • Implementing your decisions in an environment resistant to change

  • Redirecting resistance by leveraging emotional intelligence

  • Undertaking and reviewing your plans

  • Leveraging the art of persuasion

Creating Growth Opportunities

  • Making decisions to maximize asset value
  • Identifying profit models in your organization
  • Rating their effectiveness
  • Measuring the impact of key variables
  • Personalizing your profit model approach
  • Structuring a plan to focus your organization's efforts on profitability
  • Selecting profit models to maximize benefits
  • Realigning your organization to implement the model

Adapting Decision Strategies for Complex Situations

  • Risk response strategies
  • Adhering to best practices to solve real-world issues
  • Implementing plans to mitigate or avoid negative risks
  • Exploiting or enhancing positive risks
  • Converting strategy into action
  • Developing growth opportunities
  • Building appropriate plans to consider the downstream impacts of your decisions
  • The "butterfly effect" in decision making
  • Navigating "complexity theory" in long-term planning
  • Monitoring and controlling sustainability
  • Building downstream measures to track success
  • Adjusting for continuous improvement
  • Reporting progress to key stakeholders

Personalizing Your Approach to Decision Making

  • Analyzing real problems using best practices
  • Evaluating the data with proven tools and techniques
  • Making success repeatable by converting theory into practice

Course Methodology

A variety of methodologies will be used during the course that includes:

  • (30%) Based on Case Studies
  • (30%) Techniques
  • (30%) Role Play
  • (10%) Concepts
  • Pre-test and Post-test
  • Variety of Learning Methods
  • Lectures
  • Case Studies and Self Questionaires
  • Group Work
  • Discussion
  • Presentation

Who should attend

Anyone in a decision-making capacity who would like to learn how to make successful business decision, including managers, business analysts, department heads and team leaders.

Course reviews

Downloadable files