Excellence in an economic context means being better than the competition.
Not always and at all times, but in the medium to long term.
As an excellent organisation, you are ahead on average, thus achieving better results than the competition.
The essential basis for excellence is a high quality of management decisions - your accuracy in decisions is ahead of the others, besides you implement effectively.
The idea of decision excellence has been with me for a number of years; in my corporate career I led or managed excellence programmes. We were ahead of the competition, we were excellent in many areas.
What is the reality in many companies?
Studies and surveys (for example by McKinsey and the Economist Intelligence Unit) have shown that:
These are indications that there is great potential in companies when it comes to decision making in management. Focusing on making better decisions is an essential element in achieving excellence and keeping it.
Where do you stand - how good are your organisation's decisions?
You may hear statements in the company like:
These are indications that there is a need for action in management decisions.
But where exactly?
If you have to make a decision and you don't make it, that's a decision too. - William James
Deciding consciously is central to the philosophy of Mind your business.
Better decision making - this is a goal I have continuously pursued in large organisations and positively contributed to its achievement - as part of leadership teams, as a person responsible for decision-making processes in companies or as a project manager of complex improvement initiatives. An excerpt of various projects on the topic of excellence:
I now offer my years of practical experience of decision-making processes in companies to those organisations that strive for excellence.
Decisions are the element that organisations can most actively shape - making better decisions is directly related to the achievement of your organisation's goals!
The essential aspect: you decide how you decide.
Mind your business enables you to become excellent in decision making!
You cannot make no decision.
Why does it pay off to invest in the quality of decision-making - what is the business case?
Often there are already structures for decision making in management - for example, it is defined who decides on which topics (governance):
Organisations can have all these elements implemented and still be far from excellence.
Your performance management system should give you a clear picture of where you stand (if not, Mind your your business will be happy to support you - see the Controlling & Finance section for more details).
Your business case is the step from average to good, from good to very good or from very good to excellent - these steps can have enormous financial benefits.
The management consultancy McKinsey has found that the quality of decision-making processes in companies has a significantly stronger leverage on company performance than mere analysis - by a factor of 6!
Do you know which management decisions have the greatest business case?
Unconscious biases (= cognitive distortions or errors in thinking) are often behind bad decisions. A study by the University of Giessen showed that
This means that decision-making processes in companies must take into account the specific effective biases.
De-biasing is an essential factor for excellence in management decisions - also for you!
Mind your business offers you modular support to enable you to make the quality of management decisions you are aiming for.
If something already works well - perfect! We do not want to solve a problem that does not exist.
To become decisively better is the common goal to realise your potentials.
Our excellence project typically involves the following 5 steps:
In addition to the responsibilities in the project, we also agree which of the following 5 modules will be used.
Let's discuss your concrete challenges and effective steps to your solution!
We focus on your starting position and the consequences of the current decision quality.
You get the external expert perspective on your meetings and your decision-making.
You will receive an analysis of the agreed decision-making processes and possible misalignments in your processes.
You will receive an expert analysis of which biases are relevant and concrete options to reduce them.
We develop a set of specific measures for your organisation and prepare the implementation.
You will receive professional support from managers, teams or key individuals as required.
Put focus on your key decision-making processes in the company - they make the difference!
Find out more details about the "Decision Excellence" offer and feel free to contact me with any questions or further suggestions.
Let's clarify in a free and non-binding conversation which decisions have the greatest impact for you. These need to be improved on an ongoing basis.
Decision Excellence as a continuous process
Improving the quality of decision-making and the corresponding competencies of an organisation is an ongoing process. It needs focus, expertise and ongoing calibration.
For this reason, Mind your business offers corporate partnerships - also on the topic of decision-making. Learn more about corporate partnerships.
The number of these partnerships is limited to ensure sufficient focus!
Make a first decision and contact me!