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Decision-Making Warning Flag 1 – Logic Fallacies Introduction
Complex decisions require executives and managers to synthesize a multitude of variables into meaningful information from which they must choose a course of action. Some executives and managers combine clarity of thought and depth of knowledge and experience with a true understanding of the organization’s goals to identify and select a well founded decision option. Others find their perspective clouded by personal bias, self interest, misinformation, inexperience, and/or a lack of decision-making fundamentals knowledge; falling prey to logic fallacies, the misapplication of logic during problem solving. While a lack of knowledge and/or experience with problem solving may contribute to logic errors, they are typically the product of decision-makers’ underlying desires.
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Additional Information
The following StrategyDriven recommended best practices are designed to reduce the likelihood of erroneous logic being applied during the decision-making process including:
- Decision-Making Best Practice 2 – Multidiscipline Teams
- Strategic Analysis Best Practice 1 – Integrity Without Excuses
- Strategic Analysis Best Practice 2 – advocates diaboli, The Devil’s Advocate
- Strategic Analysis Best Practice 3 – Identify the Hidden Drivers
- Strategic Analysis Best Practice 3 – Identify the Hidden Drivers (Continued)
- Strategic Analysis Best Practice 4 – Independent Assessors
- Strategic Analysis Best Practice 5 – The Use of Models
Organizational accountability is built on the premise that individuals are equitably rewarded based on their contribution to the accomplishment of the organization's goals consistent with its ethical values. Performance, therefore, becomes more than just 'making the numbers.'
Human beings are social creatures having both emotional and physical needs. Businesses able to satisfy these needs will be better positioned to attract and retain talented personnel; giving these businesses a much needed advantage in the increasingly knowledge driven marketplace where human resources are increasingly limited. Such organizations will further benefit from increased worker engagement because employees feel more connected and valued.
We have often asserted that organizations, like people, act in a manner consistent with its shared values. Subsequently, those ideals in which an organization’s members truly believe manifest themselves in every aspect of the organization’s physical and social environments. These environments are categorically represented as an organization’s:
Alternative selection is the point in the decision-making process where art meets science and academic knowledge meets hands on experience. There is often no one perfect solution or one best solution. Rather, there will exist several alternatives within the acceptable value range from which the decision-maker will ultimately have to choose one option.
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