Decision and ownership
- 2. DECISION AND EVALUATION • Making decisions for a small business might seem to require wisdom beyond your capabilities. To ensure that your decisions benefit your company, properly evaluating their effectiveness will help you know if you should stay on track or make subsequent changes. It includes • Pinpoint the Issue • Determine Solutions • Implement Decision • Evaluate Effectiveness
- 3. Pinpoint the Issue • As a business owner, you are faced with a variety of decisions every day. Some are important, while others are not as vital but must be acknowledged. • You must pinpoint the issue requiring a decision. You may have found a problem that needs resolving, but upon closer analysis, you've identified an underlying situation needing to be addressed. • For example, if a customer complains about inadequate service, it may not be the fault of your employee but rather the poor implementation of a company policy.
- 4. Determine Solutions • Once you have adequately identified the decision that must be made, determine if the solution will be isolated to one situation or become a company-wide policy. • Make a list of the advantages and disadvantages of viable decisions. Project the impact of the decision to your sales, revenues and profits. • Even minor decisions that are not far-reaching should be considered carefully in case implementation affects other areas of business.
- 5. Implement Decision • Instead of being hasty, carefully consider all aspects of your decision and its application. If you are changing a company policy, notify your employees and meet with them to answer questions and discuss the implementation strategy. • If customers are affected, send letters and post a notice on your website explaining the changes and benefits involved. • Be confident in your decision so others will not question its validity.
- 6. Evaluate Effectiveness • Perform online surveys and ask customers to answers questions to evaluate the effectiveness of your decisions. • Expect complaints from customers and employees. • Don't overlook serious feedback that can have a negative impact on your profits, but be open to suggestions and continue the process of decision-making and implementation until all departments run smoothly.
- 7. Focused Thinking Framework Steps of focused thinking • Thinking about Values • The Framework of Value-Focused Thinking • Identifying and Structuring Objectives • Measuring the Achievement of Objectives • Quantifying Objectives with a Value Model • Uncovering Hidden Objectives • Creating Alternatives for a Single Decision maker • Creating Alternatives for Multiple Decision makers • Identifying Decision Opportunities
- 8. Arguments • An argument is an exchange of diverging or opposite views, typically a heated or angry one. • An arguments consist of premises and conclusions. The argument start with Premises and ends with a conclusions are statements.
- 9. • A premise is a statement in an argument that provides reason or support for the conclusion. There can be one or many premises in a single argument. • Premise indicator words: since, because, for, given that, seeing that, considering that, etc. • A conclusion is a statement in an argument that indicates of what the arguer is trying to convince the reader/listener. • Conclusion indicator words: therefore, thus, hence, consequently, so, accordingly, it follows that, for this reason, that is why etc.
- 10. GENERAL RULES FOR: SHORT ARGUMENTS • Distinguish between premises and conclusion The conclusion is the statement for which you are giving reasons. The statements which give you reasons are called premises. • Present your ideas in a natural order Put the conclusion first, followed by your reasons, or set out your premises first and draw the conclusion at the end.
- 11. • Start from reliable premises No matter how well you argue from premises to conclusion, your conclusion will be weak if your premises are weak. If you are not sure about the reliability of a premise, you may need to do some research. • Use definite, specific, concrete language Write concretely: avoid abstract, vague, general terms
- 12. • Avoid loaded language Do not make your argument look good by caricaturing the opposing side. • Use consistent terms Consistent terms are especially important when your argument depends on the connections between the premises. • Stick to one meaning for each term The opposite temptation is to use a single word in more than one sense.
- 13. Non-Arguments • Things that may look like arguments but are not, and are thus misconstrued as arguments, are explanations, reports, instructions, and so on. • Reporting, advising, warning, stating your belief about something or expressing your opinion about something. • Explanations - An explanation is a statement or collection of statements asserting why or how something is the case. • Advice - Like explanations, advice is not an argument, even when expressed as a collection of statements.
- 14. Assumptions • Assumptions are beliefs or ideas that we hold to be true often with little or no evidence required. • Implicit assumptions are assumptions that are not expressed and may go undetected. If implicit assumptions prove to be wrong ,this can damage projects.
- 15. • Underlying assumptions are the source of values in a culture and what causes actions within the organization. Underlying assumptions are usually “known,” but are not discussed, nor are they written or easily found. • Reasoning The process of thinking about something in order to make a decision.
- 16. SIX THINKING HATS • Six Thinking Hats is a system designed by Edward de Bono which describes a tool for group discussion and individual thinking involving six coloured hats. • Solving problems using the six thinking hats model requires looking to at problems with different types of thinking, each type is represented with a hat colour.
- 17. Six Thinking Hats are : • White Hat • Yellow Hat • Black Hat • Red Hat • Green Hat • Blue Hat
- 19. White hat • This hat represents the facts and the information available about the problem or the argument. • During this part, the stockholders only share the information about the problem and take notes with it. No further development in the thinking process should be done. • Questions in this part can be “what is the available information?” and “what are the facts we have?”
- 20. Yellow hat • The yellow hat supposes to reflect the sun or an optimistic attitude. • The stakeholders think from an optimistic point of view about the problem or suggestion. It helps to spotlight the advantages and benefits of the suggestions. • Questions in this part can be “what are the advantages of applying the solution?” and “why do you think it is workable?”
- 21. Black hat • Wearing the black hat drives attendees to think about the problem or suggestion cautiously and defensively. • The aim of this part is to identify the cons of the suggestion and the disadvantages and why the suggestion may not work based on logical reasons. • Questions in this part can be “ what are the risks?”and “why is the suggestion not working?”
- 22. Red hat • The target of using this hat is to understand the different emotional reactions such as love, hate, like and dislike. • The red hat does not aim to understand the reason behind these feelings. • Questions in this part can be “what do you feel about the suggestion?” and “what is your gut reaction toward the suggestion?”
- 23. Green hat • This represents the creative thinking part of the discussion. • During the critical thinking discussion, this hat fuels the stakeholder’s thinking to innovate a creative solution for the problems or look to the suggestions from a creative perspective.
- 24. Blue hat • This is the process control plan where the meeting leaders manage difficulties during the discussions. • It makes sure that the guidelines of the six thinking hat process is applied. • This hat can be used to drive the thinking process to better routes. • For example, if there are no ideas, the facilitators can direct the discussion to the green hat route.
- 25. ETHICAL CONSIDERATIONS • It is an accumulation of values and principles that address questions of what is good or bad in human affairs. • Ethics searches for reasons for acting or refraining from acting; for approving or not approving conduct; for believing or denying something.
- 26. SOME OF THE ETHICAL CONSIDERATIONS ARE:- Informed consent Informed consent means that the person participating in the evaluation is fully informed about the evaluation being conducted. Voluntary participation Voluntary participation means that people participate in the evaluation free from coercion. Do no harm Harm can be both physical and/or psychological and therefore can be in the form of: stress, pain, anxiety etc
- 27. • Confidentiality Confidentiality means that any identifying information is not made available to, or accessed by anyone but the program coordinator. • Anonymity Anonymity is a stricter form of privacy than confidentiality, as the identity of the participant remains unknown to the research team. • Only assess relevant components. Only assess those components that are of relevance to the program/initiative being conducted.
- 28. INTELLECTUAL PROPERTY • Intellectual Property (IP) refers to the protection of creations of the mind, which have both a moral and a commercial value. • IP law typically grants the author of an intellectual creation exclusive rights for exploiting and benefiting from their creation. • IP confers on individuals, enterprises or other entities the right to exclude others from the use of their creations.
- 29. COPYRIGHT • Copyright is a legal term used to describe the rights that creators have over their literary and artistic works. • Works covered by copyright range from books, music, paintings, films, computer programs, databases, advertisements etc
- 30. PATENT • A patent is an exclusive right granted for an invention, which is a product or a process that provides, in general, a new way of doing something, or offers a new technical solution to a problem. • To get a patent, technical information about the invention must be disclosed to the public in a patent application.
- 31. TRADEMARK • A trademark is a sign capable of distinguishing the goods or services of one enterprise from those of other enterprises. • Trademarks are protected by intellectual property rights.
- 32. TRADESECRET • A trade secret is the information which is not generally known to the public. • Trade secrets can be very valuable to you whether you have developed new technology, designed original products, created the perfect recipe, or have a gold mine of customer data. • One of the most famous trade secrets is the Coca Cola formula, a well-guarded secret for over 100 years.
- 33. UNFAIR COMPETITION • Unfair competition is a term applied to dishonest or fraudulent rivalry in trade and commerce. • It's a branch of intellectual property law, particularly applied to the practice of endeavouring to substitute one’s own goods or products in the market for those of another for the purpose of deceiving the public.
- 34. Thank You