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Thursday, March 17, 2016

Management by the Numbers

It would be great if we had a handbook for every business problem and issue we face. We just open the book and come up with a solution. Life isn't like that and there is no management by the numbers system. We must work our way through problems and come to conclusions that can have a big impact on how successful we are. This means we need to use some type of mental approach that helps to ensure we are coming to proper management conclusions.

Consider how many decisions are made in the business world-and they don't always have anything to do with rationality or strategy. Decisions can be reactive, emotional, social, quick and inaccurate that leads to poor outcomes. By looking through our experience, relevant theories, using critical thinking and checking in with our emotions we are better able to determine the best strategic course of action.

Paint 1: The Benefits of Experience
There is no substitute for experience. Theory is excellent but experience is often more practical for solving problems at the times they rear their ugly head. Seasoned managers can bring time tested methods to overcoming challenges by drawing on their wide experiences. They are limited by the new ways of seeing and doing things that can lead to innovative breakthroughs.

Paint 2: The Benefits of Theory

Theory is the scientific explanation for events that rests on multiple incidents of experience. Theories become stronger when additional support is provided through shared findings from different times and places. Theories can help business predict what will happen when factors XYZ are in place. They are good for developing new strategies based on theoretical models.

Paint 3: The Benefits of Critical Thinking

Critical thinking can balance out theory and experience to help explore new solutions yet undiscovered. When scanning our neural networks for possible solutions we can start to see possibilities from varying perspectives and angles. As we critically review the most likely solutions we engage in critical thinking. Our strategic choices are adequately explored.

Paint 4: The Benefits of Feeling
Check in with how you feel about a looming big decision. If you feel that your choice is not ethical or won't have the intended outcomes then go back and recheck your steps. Sometimes our subconscious knows things that we are not willing to accept. It just doesn't feel like the right decision but we might be unaware of why. Go exploring to see if there is anyway to improve the choice.


Fell free to share with appropriate attribution. Dr. Murad Abel http://www.academic-capital.net 

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