When it comes to decision making, some people like to rely on their gut. Others are more analytical, evaluating data and using numbers to determine the best course of action when facing a difficult decision. Both options can lead to the right decision from time to time but, overall, when it comes to decision making, Thomas Nestor says the safest, smartest choice isn’t to rely solely on a spreadsheet or deep-rooted hunch.
Nestor says success in decision making is all about having a process.
Speaking Monday at the Commercial Vehicle Solutions Network (CVSN) Aftermarket Distribution Summit in Braselton, Ga., Nestor says process-driven decision making is more valuable in business than analytical decision making by a factor of six.
For example, while a spreadsheet is useful for demonstrating a new location may be financially feasible and a hunch may tell you a new store is something you can handle, until you evaluate such a choice under a process microscope, Nestor says you’re still making an educated guess.
Nestor outlines eight steps to a comprehensive process-driven decision-making strategy.
