Instinct or insight? How to make a tough decision06 Oct 2015
Some traits of great leaders may seem almost unenviable, especially when these people are put under pressure to make tough decisions.
These situations bring, everything learnt in leadership skills training comes to the fore. But what’s the best way to make hard decisions? In some cases, you could have all the data in the world but still be unable to overturn your gut instinct.
So, which method of decision making offers the most reliable results under pressure? PricewaterhouseCoopers investigated the issue.
Decision making is an art
The firm believes that dependable decision making is not as black or white as described above. Instead, effective leaders are able to balance the scientific side (data) with the artistic (feeling and instinct).
This balance between instinct and insight will continue to define how people make decisions, especially in business environments.
According to PwC, once people are able to make the most of these approaches to decision making, they quickly realise the benefits. These include making decisions faster, as leaders are better equipped to balance the information they receive with what their instincts are communicating to them.
The other characteristic is one that’s harder to measure: confidence. This trait is essential in situations that prompt particularly difficult decisions, and could be the difference between success and failure. This lesson is also essential to communication skills training, with confidence adding extra weight to your messages within the workplace.
In another survey conducted by PwC, the firm explicitly detailed the way decision making affects relationships in business environments. Interestingly, those who could enhance their usual processes with data insights are three times more likely to make important choices effectively.
Adding to the weight of these processes, 94 per cent of respondents said effective decision making was key to the future success of their organisations.