1. Enterprise decision-making
Hello! This video is about best practices in strategic, business decisions.
2. Enterprise decision-making
In dynamic business environments, strategic decisions are crucial for achieving organizational goals.
Let's see the four pillars of enterprise decision-making.
3. Enterprise decision-making
Firstly, planning is vital to organize the tasks and resources to make the decision.
4. Enterprise decision-making
Secondly, having the stakeholders involved is also mandatory.
5. Enterprise decision-making
In third, managing risks is crucial. Especially in enterprises, where negative impacts can have tremendous consequences.
6. Enterprise decision-making
Finally, ethics is key for transparency in the decision process.
Next, let's investigate each pillar.
7. Planning the decision
In enterprise decisions, planning is specially important considering the scale and complexity of the environment.
Initially, define the decision factors. The "objectives", "alternatives", "constraints", and "uncertainties".
8. Planning the decision
Then, identify the stakeholders by mapping the areas, processes, and people impacted by the decision.
This is key for alignment and transparency reasons.
9. Planning the decision
Also, map the skills necessary to make the decision.
For example, when deciding to migrate an application to the cloud, involve the development, infrastructure, legal and cybersecurity specialists!
10. Planning the decision
Next, like in any business project, an enterprise decision needs clear deadlines and milestones to avoid setbacks.
11. Planning the decision
Finally, the budget! Some complex decisions require viability tests, surveys, consultancies and these things, cost money.
12. Engaging the stakeholders
The second pillar consists in the engagement of stakeholders.
Let's see why involving stakeholders enables support, trust, collaboration, and transparency in the enterprise decision process.
13. Engaging the stakeholders
All the planning items such as objectives, requirements and budget needs to be well aligned with the stakeholders. This will avoid many problems down the road.
14. Engaging the stakeholders
Stakeholders often have valuable insights and requirements that need to be considered as inputs to the decision process.
15. Engaging the stakeholders
Engaging stakeholders is key to define the responsibility for the decision.
This accountability is essential for transparency and compliance reasons.
16. Engaging the stakeholders
Lastly, setting a communication routine such as checkpoints and status reports is crucial to guarantee constant alignment.
Next, let's talk about business risks management.
17. Managing enterprise risks
In enterprise decisions, some specific risks need to be considered due to the impact of these decisions.
18. Managing enterprise risks
We learned that uncertainties can generate risks. Risks have severity levels, and a strategy should exist to address each risk.
All of this, is still fundamental in an enterprise decision.
19. Managing enterprise risks
But now, let's see the Top three risks specific for this scenario.
20. Managing enterprise risks
First, if not properly mapped, there's a risk of not considering all the areas, people, and processes impacted by the decision.
21. Managing enterprise risks
Secondly, the lack of accountability is a classic risk that should be avoided!
Every decision needs to have a responsible and this needs to be formalized.
22. Managing enterprise risks
Lastly, thinking short-term to make a decision is a risk.
The consequences of a decision needs to be evaluated for weeks, months and years ahead.
23. Ethical considerations
The decision process must be ethical so organizations can promote a positive reputation and long-term relationships with customers, employees, investors, and the community.
It should be transparent! The Stakeholders should have access to how the decisions are being made.
24. Ethical considerations
It must have accountability! Meaning that the responsible for the outcomes of the decisions is defined and formalized.
25. Ethical considerations
It should have Integrity, with decisions based on accurate and reliable information, without favoritisms and conflicts of interests.
26. Ethical considerations
Lastly, decisions need to be compliant with local and global legislations to avoid legal penalties, financial losses, and damage to the organization's reputation.
27. Let's practice!
Enough talking! Let's practice!