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Rocco Romanella - Decision Making Skills

Episode Summary

About Rocco: A respected business leader willing to take risks and new challenges. More than 40 years of executive level experience including: development and implementation of high-level strategies, merger and acquisition integration, operations management, profit and loss (P&L) responsibility, and liaison between the board of directors and corporate operations. Extensive experience in national and global transportation, industrial engineering, inside operations and supply chain management. Growth, expansion and innovative thinking have led to these positions of increasing responsibility in all facets of business. Recognized as a perceptive leader who navigates and guides cross-functional business ventures to define, prioritize and deliver strategic initiatives for maximum value and profitable results. Managers make choices that can impact the business every day. To ensure they chart the right course, decisions must thoroughly consider the issue, use the most pertinent information and deliver intended impacts. This step-by-step framework ensures the best results, whether decisions impact a small team or your entire business: Define the issue: Ask questions, get feedback from key players, look at the situation from all possible angles. The more thoroughly you understand the scenario, the more informed your decision will be. Review information: Gather as much relevant data as possible. If you’re considering a larger decision, delegate data-gathering tasks to team members who know the work area and understand what to look for. Evaluate each option: Consider the pros and cons of each possible course of action to determine which routes provide the best chance of success. Choose a course of action: Make a choice and move forward. Implement your plan: Make a clear, specific and actionable plan. Clearly communicate to employees and address questions and concerns. Assess the results: Every course of action you take is a learning opportunity. Monitor results to pinpoint which of your decision-making skills need improvement. Did you: Have the right data? Consider or recognize each option? Communicate well enough to your employees? Adjust for the future: Make changes you need to re-orient your course of action. Note what worked and what didn’t so you can make better decisions in the future. Key skills for effective decision-makers These skills strengthen your decision-making abilities: Problem-solving: The ability to identify a problem and find solutions is crucial to decision-making. Strong problem-solving skills help you remain calm under pressure and identify the best possible solutions. Data analysis: The ability to perform your own analysis or delegate to the right employees so you can assimilate the information is crucial. It’s also important to know what kind of data you need. Time management: Some choices require quick action. The ability to make sound, informed decisions within the necessary time frame is critical. Communication: The ability to clearly and effectively communicate decisions is vital. Active listening: Active listening keeps you informed of progress on projects, work processes and how employees are doing at their jobs. And, it makes every conversation information that you can use when you need to make decisions quickly. Humility: Sometimes, the most important skill for a decision-maker is acknowledging when another staff member’s solution is better than your own. It’s necessary that you’re able to make the right choice, regardless of who came up with the solution. Mediation: The ability to assess each staff member’s opinion, be fair and diffuse conflict is important. Planning: Business decisions often involve potential pitfalls. Planning well helps your team avoid unexpected setbacks. Leadership: A great decision isn’t worth very much if you can’t convince others of it. Leadership skills help you persuade others that your decision is the right one.

Episode Notes

https://www.linkedin.com/in/rockyromanella/

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