In an unpredictable economy, a nimble captain of a company can save the ship from sinking with some quick decision making. There are theories and tools that business leaders can adopt in these times of financial stress. While some captains have designated leaders for particular tasks, others are sending their middle and senior management to B-schools to improve leadership qualities from others who have faced similar situations. Although some people are born with the ability to take quick decisions and problem solving skills, others can learn this much-needed skill.
Don Six Thinking Habits: Companies often use Edward de Bono's tool, Six thinking hats. It is based on the belief that the brain can think in six different directions. The so-called hats are color coded and the group comes up with possible solutions to a problem. White hat signifies data available, red hat for intuitive and gut reactions to a problem, black is for using discerning abilities and logical approach, yellow is for optimism, green hat is used to come up with solutions and blue hat for meta-cognition to look at processes procedures.
Assign a Leader: Assign a leader with strong leadership qualities while delegating team work to ensure accountability for the decisions.
A Few Minutes of Solitude:For those who prefer working in silos, not having a group huddle jotting down the problem and road maps for a solution often helps.
A Degree can Speed Up the Process: Swifter and correct decision making can be taught in classrooms. Short-term classes teach how to access data and come up with the best possible solutions.
Gather Experience from Far and Wide: Those in the hot seat can learn from the experience of their colleagues and competition and know the importance of team work, besides keeping a dialogue on with as many people as possible irrespective of age and hierarchy.
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