book.chapter Preparation - set the course

Making sound decisions is a critical skill in life, yet many people do not approach decision-making systematically. By taking time to thoroughly assess the situation before deciding how to decide, you can set yourself up for better choices. An initial assessment allows you to step back, examine the bigger picture, gather pertinent information, and determine the best decision-making process before diving in. A good initial assessment involves answering several key questions upfront: What is the heart of this decision? Should it be made alone or with input from others? How much time is needed? What past experiences or decisions can inform this one? What are my own biases and perspectives, and what other viewpoints would be constructive? Essentially, an initial assessment pushes you to gain clarity on the problem, direction, and resources needed to make the best choice. Conducting an initial assessment can optimize the decision-making process in several ways. It can help determine whether the decision is best made analytically or emotionally, individually or in a group. It enables you to identify how much time should be allocated and how to best utilize it. An assessment also sheds light on related past decisions and experiences that might guide you. Fundamentally, it makes you consider your own tendencies, strengths, and limitations regarding the choice at hand. By evaluating all of these factors upfront, you can tailor your process to the decision and greatly enhance your chances of a good outcome. Even if the eventual result is poor, you can take comfort knowing you approached it thoughtfully. As Robert Rubin, Former U.S. Treasury Secretary, stated: "Good decision-making is the key to good outcomes." Many people judge choices solely based on the outcome rather than the quality of the decision-making process. However, as J. Edward Russo and Paul Schoemaker explained, "Good outcomes don’t necessarily mean a good process was used, just as poor outcomes don’t necessarily signal an incompetent process." Essentially, luck plays a role in how decisions turn out. You may make an excellent choice but face disappointing results due to bad luck. The converse is also true − you could make a poor choice yet wind up with a positive result due to sheer luck. But over time, sound decision-making will lead to better outcomes than relying on luck. An initial assessment sets up a systematic decision-making process, which is vital since decisions tend to be evaluated based on their outcomes. By thoroughly examining the situation first, you make it more likely your process − and eventual choice − will be sound. As John Dewey stated: “A problem well stated is a problem half solved.” In decision-making, properly framing the issue and identifying the best method to address it marks significant progress toward the solution. In essence, an initial assessment gives you the launch pad to make quality decisions. It provides understanding of the problem, goals, alternatives, resources needed, and optimal process before diving in. This upfront effort to determine how you will decide can pay enormous dividends in the long run. Your chances of making wise, thoughtful choices are vastly improved simply by taking the time to properly assess first. The decision itself will be grounded in your needs and shaped to your situation. And even if luck does not favor you, you can take pride knowing your process was aligned to produce the best outcome within your control. By setting up sound decision practices, over time you will reap the rewards of better choices.