Showing posts with label Leadership and Management. Show all posts
Showing posts with label Leadership and Management. Show all posts
Friday, December 3, 2010
Tuesday, July 27, 2010
Fourteen Steps in Making Analytical Decisions
Whenever I am faced with too many alternatives and feel lost about what I'm supposed to do, I turn to this book by Sam Deep and Lyle Sussman called Smart Moves. It's filled with tons and tons of lessons on management.
1. Perform a situation analysis. - Check for trends and conditions. Identify what is exactly giving rise to the need for a decision.
2. Determine the decision objective. - What are the why's? What do you hope to gain?
3. Quantify expected results. - If you make the decision, what new conditions will arise and ask if those are desirable for you. You must try to evaluate the quality of a decision with a quantified target.
4. Identify available information. - Garbage in, garbage out. The quality of your decision is as good as the quality of information going into that decision.
5. Identify other resources. - Which are available? Which can you generate more of if necessary? Where will you look and by when?
6. Establish decision requirements. - What are the conditions that must be met before you can make a decision?
7. Determine desirable features. - If decision requirements are the "musts" ; desirable features are the "wants."
8. Rate desirable features. - Not all wants have the same level of importance.
9. Generate alternatives. - What are other available choices?
10. Test alternatives. - Measure each alternative against your list of requirements and reject those that don't meet your requirements.
11. Evaluate alternatives. - Compare desirable features of the remaining alternatives and give each alternative a comparative rating on each feature.
12. Compare alternatives. - Generate a total score for each remaining alternative and compare. Multiply the rating earned by one alternative for each feature by the weight assigned to that feature in step 8. Like for a rating of 1 to 10, you assign 5 to a feature (like sturdiness, or even supervisory resposibilities) which you might have assigned a weight of 30% (5 x 0.30). Do this for each feature on each alternative. Then compare total scores for each alternative. The highest score becomes a tentative choice.
13. Test the tentative choice for consequences. - What will happen in the short, mid, and long term for this decision?
14. Make the final decision. - If it passes step 13, implement it. If not, proceed to the next highest scoring alternative.
Return to step 1 if you haven't found a suitable choice, begin the whole thing again and make sure you don't miss anything.
1. Perform a situation analysis. - Check for trends and conditions. Identify what is exactly giving rise to the need for a decision.
2. Determine the decision objective. - What are the why's? What do you hope to gain?
3. Quantify expected results. - If you make the decision, what new conditions will arise and ask if those are desirable for you. You must try to evaluate the quality of a decision with a quantified target.
4. Identify available information. - Garbage in, garbage out. The quality of your decision is as good as the quality of information going into that decision.
5. Identify other resources. - Which are available? Which can you generate more of if necessary? Where will you look and by when?
6. Establish decision requirements. - What are the conditions that must be met before you can make a decision?
7. Determine desirable features. - If decision requirements are the "musts" ; desirable features are the "wants."
8. Rate desirable features. - Not all wants have the same level of importance.
9. Generate alternatives. - What are other available choices?
10. Test alternatives. - Measure each alternative against your list of requirements and reject those that don't meet your requirements.
11. Evaluate alternatives. - Compare desirable features of the remaining alternatives and give each alternative a comparative rating on each feature.
12. Compare alternatives. - Generate a total score for each remaining alternative and compare. Multiply the rating earned by one alternative for each feature by the weight assigned to that feature in step 8. Like for a rating of 1 to 10, you assign 5 to a feature (like sturdiness, or even supervisory resposibilities) which you might have assigned a weight of 30% (5 x 0.30). Do this for each feature on each alternative. Then compare total scores for each alternative. The highest score becomes a tentative choice.
13. Test the tentative choice for consequences. - What will happen in the short, mid, and long term for this decision?
14. Make the final decision. - If it passes step 13, implement it. If not, proceed to the next highest scoring alternative.
Return to step 1 if you haven't found a suitable choice, begin the whole thing again and make sure you don't miss anything.
A Personal Mission Statement
What Should a Mission be?
The joy of life can't be just good food, nice clothes, fancy cars, and a happy family.
It includes the pain of defeat, the hurt of endurance, the fear of trying, the giving, and the sacrifice for a cause that benefits others.
My mission is to deliver the world's financial wake up call... towards achieving financial freedom...
The Financial Wake-Up Call
If you want to change your life, change your mindset. When a man is exposed to good information and understands wealth building, they can change their life and their family life. If a man has a wealthy mind, eventually he can be wealthy. But a man who lacks a wealthy mind, even if he wins the lottery, will eventually be poor.
We must plant the seed of wealth into people's minds and show them the way. Then they can complete the journey.
The joy of life can't be just good food, nice clothes, fancy cars, and a happy family.
It includes the pain of defeat, the hurt of endurance, the fear of trying, the giving, and the sacrifice for a cause that benefits others.
Please ask yourself the following questions below: 
- Is your income temporary or permanent? How about your needs?
- Do you see people losing their income due to retrenchment or business failure?
- Do you feel that the prices of commodities increase faster than your income?
- Do you feel most people don't have enough savings?
- Do you know anyone that has salary loans?
- Do you know anyone who has to borrow money or sell properties to pay for health-care, children's tuition fees, debts, etc.?
- Do you feel that lending companies become richer while the borrowers become poorer?
- Do you see people trapped in an endless cycle of financial frustration because of lack of financial information?
If you want to change your life, change your mindset. When a man is exposed to good information and understands wealth building, they can change their life and their family life. If a man has a wealthy mind, eventually he can be wealthy. But a man who lacks a wealthy mind, even if he wins the lottery, will eventually be poor.We must plant the seed of wealth into people's minds and show them the way. Then they can complete the journey.
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