Making decisions

Some decisions are complex.

Many Board decisions are complex and require input from different perspectives. For example:

1. Do we have enough information to make a decision now? How good is the information? Otherwise, what information do we need?
2. Who would do it? When? Is there a deadline?
3. What specific objectives are to be achieved? Can we measure achievement?
4. Will it support achievement of our strategic purpose? (Or do we need to change our stategic purpose?)
5. Who would do it? When? Is there a deadline?
6. How long with the opportunity be open?
7. What risks would it involve?
8. What are the financial implications? What is the cost-benefit analysis?
9. How will it affect our market position and reputation?
10. How will it fit our compliance requirements?
11. Can we manage people to get it done? How will they respond to making any major changes?
12. How will it fit our organizational capacity? That is, do we have the people, ability and resources to do it within acceptable risk? Do we have the ablity to oversee implementation?

This list is by no means exhaustive and is a small sample of the many factors that might affect a decision. Much of an MBA program is an analysis and application of these kinds of factors. There are also various strategies for making decisions.