Decision Making- Preparing for Uncertainty

Uncertainty is the permanent fixture in the corporate world. you see that the circumstances change and unforeseeable event occurs. while you can't read the future , you can still make some smart choices to be prepared for it. Those uncertain circumstances could be 
 
  • Change in Consumer Behavior
  • Change in Economic Conditions
  • Change in Financial Conditions
  • Increasing Competition
No matter how much we desire control and predictability, there will be some factors that will be uncontrollable just like the above mentioned points.

Power of Decision Making
 
In spite of the fact that you cannot be fully prepared for everything that's coming your way, you can back your organization with ideas that can fend off potential threats by making specific plans. Here are  some tips that can help you practically deal with the unforeseeable conditions:

  • Be updated 
One of the best way to combat with any kind of uncertainty is to be aware of the indicators. By educating yourself about the scenarios that happened in the past or by gaining insights on what could be the challenges or downfalls that might occur, you can see you yourself in a better position while dealing with the any situation. This will only make you sharp and proactive , which will eventually empower your ability to make smart decisions.
 
  • Explore the pros and cons
Every plan/idea that occurs in your mind should be validated on the basis of its pros and cons. it will disclose the kind of impact it will have in your organization and will help you analyze the plan more authentically. This is rather easy process of identifying ideas that will work or will not work. 
 
  • Consistent Review
Reviewing your decisions/plan will ensure that you figure out:
  • if it is reliable?
  • if it is current?
This method is particularly helpful in order to combat changes in consumer demands. In the rapidly change trends and tastes. it is important to have a relevant and reliable plan. Reviewing it will only make you sure about the path .
 
  • Relationships
Whether it's tough times in a struggling economy, a lack of resources, or changes in demand, healthy business relationships can help you weather the rough patches. It is critical to maintain good relationships with peers and partners. The support you get in your organization can be the driving factor that will encourage your intent to be positive and reliable.
 
  • Follow up
It is critical to follow up your decisions. The objective of doing this so is; it helps you understand the flow and the outcome of it. You can always work on things that doesn't seem to be working. and to track the impact of things, Follow up is Important!
HR Leadership Workplace Decision making Talent Effective decision making Contigency planning Change management