Monumental situations such as this are not unusual. They are inflection points in the progress of both the company and the responsible manager. Successful managers are good at decision-making. They typically face tough decisions every day and have a track record of making the right call. However, these everyday decisions are for “run the business” type operations within their business units or functional areas. This begs the question: What happens when a manager encounters the big, novel and strategic decision around a new direction for the business? These major decisions are not in the manager’s regular experience set and require participation and buy-in from stakeholders outside his or her area for successful implementation. The prospect of high reward is often dwarfed when compared to the tremendous risk of major losses brought about by poor decisions.
Endeavor offers Decision Analysis consulting services to support companies facing these types of situations. Decision Analysis provides precision in defining the problem, bounds and objectives. In addition, clearly defining the challenge facilitates creating alignment among stakeholders – one key to success. Our process starts with resolving the high level issues first so that the focus is on the right “big picture” solution before work begins on second order issues. This provides a framework for detailed analysis of both process and economic issues. The following graphic outlines our approach:
Endeavor Management has a rich background and deep expertise in applying DA to a wide variety of major strategic decisions across diverse industries, including oil and gas, IT, manufacturing, finance, healthcare and retail. We deploy career Decision Analysis experts with years of experience in framing projects for optimal results. They are able to scale the effort to fit the need and can help your company with issues such as the following:
In most situations there are multiple ways to address the challenge. Have you considered these alternatives? Often there is a rationale for picking one over another. Endeavor’s information-based, objective decision-making process can help you articulate the rationale, allowing you to plan and commit resources with confidence.