BUSINESS
DECISION MAKING

Business Decision Making has been a surprisingly low training priority in most industries. This may be partly due to confusion over what this critical competency really is, and partly because there is little published on the subject of how Business Decision Making competencies help to drive performance improvements. Geoff's work with a number of leading financial services companies helped him to appreciate just how important it is to develop effective Decision Making protocols, for some fundamentally obvious reasons:

   • Compliance: Industry, Regulatory, Legislative and Consumer Requirements

   • Consistency: Given the same options, managers should make similar decisions

   • Risk & Return: Avoiding unnecessary risks, without missing the best opportunities

   • Performance: Weighing several choices, which will produce the better results

 

From his efforts working with several teams on the problem and opportunity of improving Business Decision Making, Davidson developed an easy to apply process for identifying and valuing seven key Business Decision outcomes that help to ensure business decisions are more consistently the better of the choices that managers and personnel have to make every day:

 

   1. Adding Value to Transactions and Relationships

   2. Adding the Right Customers, Products, Services, Personnel and Systems

   3. Retaining the Right Customers, Products, Services, Personnel and Systems

   4. Increase Profitability by Adding Revenues and Improving Cost Ratios

   5. Minimizing Risks to the Company, Personnel and Systems

   6. Minimizing Risks to Customers, Stakeholders and the Public

   7. Meeting or Exceeding Legislated, Regulatory, Compliance and Industry Requirements