Decision Making

Good decision making is an essential skill for career success generally, and effective leadership particularly. If you can learn to make timely and well-considered decisions, then you can often lead your team to spectacular and well-deserved success. However, if you make poor decisions, your team risks failure and your time as a leader will, most likely, be brutally short.

The section starts with some simple techniques that help you to make decisions where many factors are drawing your attention. It then moves to various more powerful techniques such as Decision Trees and Cost and Benefit Analysis which are routinely used in commercial Decision Making.

Improvement can be established. The 80-20 theory was first developed in 1906, by Italian economist, Vilfredo Pareto, who observed an unequal distribution of wealth and power in a relatively small proportion of the total population. Joseph M. Juran is credited with adapting Pareto's economic observations to business applications.