
1. Understanding reflection
1.1. Reflection?
1.1.1. a practice that enable to make most of both successful and unsuccessful decision-making experience
1.2. Feeback and reflection
1.2.1. Self-reflection
1.2.1.1. one of practices to allow a good decision maker to grow into great decision maker
1.2.2. Where feeback come from in business?
1.2.2.1. colleagues, clients, stakeholders, observable impact of decisions
1.2.3. Reflection allows to make the most of feedback, contextualise the development, plan for better decision making
1.3. Reflective practice
2. Unconvering biases in decision making
2.1. Biases
2.1.1. everyone be influenced by biases in making decision: by values, upbringing, culture and society, shortcuts the brain uses
2.1.2. can learn to overcome biases
2.2. Recognising biases can minise their influence and impact
3. Assessing sources of information
3.1. Data reliable?
3.1.1. Example: project with profit forecasts should based on data (cost breakdowns, reliable estimate of revenue)
3.1.2. Accessing data
3.1.2.1. Reliability of the source
3.1.2.1.1. trust?
3.1.2.1.2. credible?
3.1.2.1.3. historically accurate?
3.1.2.2. Completeness of the information
3.1.2.2.1. all relevant information?
3.1.2.2.2. showing only a subset of all the relevant information?
3.1.2.3. Motives of the author
3.1.2.3.1. author of information impartial?
3.1.2.3.2. author has vested interest and not disclosing independent information?
3.1.2.4. Definitions of the data
3.1.2.4.1. data's definition match the definition you are seeking?
3.1.2.4.2. defined differently within different industries or within the same organisation?
4. Applying critical thinking to decision making
4.1. critical thinking in business
4.1.1. asking questions to assess the meaning and significance of claims and arguments
4.1.2. to recognise the prejudices, false beliefs and habits
4.1.3. identify and select the best choice from many options
4.1.4. Critical thinker: creative, reflective and adaptable
4.1.5. to make judgements and decisions
4.2. critical decision-making
4.2.1. systematically gathering and evaluating information to make a decision
4.2.2. require best available information to determine optimal choice
4.2.3. using logic, reasoning and creativity
5. Mapping stakeholders
5.1. Impacts of business decisions
5.1.1. beyond the internal environment of an organisation
5.1.2. Globalised nature of business
5.1.3. who are affected by business decisions: stakeholders
5.2. Stakeholder mapping
5.2.1. Used to understand different stakeholders involved in a decision
5.2.2. Visual representation, to create a shared understanding
5.2.3. Who are stakeholders?
5.2.3.1. not shareholders
5.2.3.2. groups
5.2.3.2.1. suppliers: supply goods and services
5.2.3.2.2. financial institutions: invest to organisation (include shareholders)
5.2.3.2.3. customers: buy products and services
5.2.3.2.4. internal stakeholders: work for organisation
5.2.4. Steps to creating a stakeholder map
5.2.4.1. 1) define the decision
5.2.4.2. 2) list the stakeholders
5.2.4.3. 3) cluster the stakeholders
5.2.4.4. 4) connect the clusters
5.2.5. Using stakeholders maps
5.2.5.1. To identify
5.2.5.1.1. negatively affect
5.2.5.1.2. positively affect
6. Valuing creativity in decision making
6.1. Value of creativity
6.1.1. To expand the number of options
6.2. Outcome of creativity
6.2.1. McKinsey & Company findings
6.2.1.1. integrate creativity, analytics, purpose are delivering at least two times the growth of their peers
6.2.1.2. only 7% of companies combine creativity, analytics, and purpose
6.3. Infusing creativity with analytics
6.3.1. Creativity: giving rise to new campaigns, new products, innovative ways
6.3.2. Adding granular data and analytics: unleashing creativity more effectively
6.3.3. Help managers make decisions at a faster rate by
6.3.3.1. monitor changes in consumer behaviour
6.3.3.2. make budget reallocations in real time
6.4. Deploying analytics with purpose
6.4.1. by analytical horsepower and precision: creating moments that are meaningful for customers
6.4.2. serves as the anchor for decision makers to determine which insights matter most and where to focus their efforts
6.4.3. Purposefully making data and insights quickly and easily available: driving decision making and innovation
6.5. Focusing on the purpose
6.5.1. Purpose guides the overall direction for senior management making crucial decisions
6.5.1.1. shape long-term growth
6.5.2. Linking purpose to creativity and analytics
6.5.2.1. recognise the opportunities that are going to resonate most deeply with customers
6.5.3. Understand the power of purpose and weave it into the culture
6.5.3.1. create a recognisable sense of mission for customers, employees and other stakeholders
7. Developing creative confidence
7.1. Building creativity
7.1.1. teams of "creatives": innovative ideas, celebrating creativity
7.1.2. crop up in unexpected places
8. Divergent and convergent thinking
8.1. creating ideas
8.1.1. to better understand our brain's way of thinking
8.1.2. different types of thinking
8.1.2.1. divergent thinking: involves coming up with new ideas and exploring possibilities
8.1.2.2. convergent thinking: involves reflecting on ideas and making decisions, used to judge, improve and reflect on ideas
8.2. Splitting divergent and convergent thinking
8.2.1. Convergent thinking is used to make decisions, divergent thinking can be used to expand the options available to us in decision making
8.2.2. Convergent thinking moderates our (divergent) ideas
8.2.3. convergent thinking tends to limit creativity: assessing the value of ideas, dismissing ones implausible or wrong
8.2.4. to create more space for creativity
8.3. Divergent and convergent thinking in decision making
8.3.1. use divergent thinking, avoid judging the value of ideas
8.3.2. use convergent thinking to make decision after getting lost of ideas down or bad ones