Decision Making Primer - Srinivas Vedula

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MAN IN

DESERT
A STORY
PROBLEM – Undervalued,
Under Invested , Unprofessional and
Underpaid Healthcare system fighting
COVID19

Role 1 -Nurse
Role 2 - Manager
Role 3 - Director
DECISIONS
ARE
ESSENTIAL
PART OF
OUR
SURVIVAL
IF
DECISIONS Decision Making/Decisiveness is
a competency
ARE
ESSENTIAL It is a Process
TO
SURVIVE, It is demonstrated in many roles
to different degrees across
THEN industries
WHAT IS Person Taking Timely Decisions
DECISION is DECISIVE
MAKING ?
WHAT IS OPPOSITE BEHAVIOR
OF BEING DECISIVE?
Aboulomania

“CHRONIC
INDECISION
Ride IS
of A Lifetime
NOT ONLY
INEFFICIENT
AND
COUNTERPRODU
CTIVE, BUT IT IS
DEEPLY
CORROSIVE TO
MORALE.”
ROBERT IGER
LOOK AT THESE INDECISIONS
XEROX had developed the first Alto PC but it XEROX did not invest in Mobile
Was Steve Jobs and IBM who commercialized
PC on global scale Phones development in 1980
AFCON Barge P-305 sunk during Cyclone 49
lost lives, 181 rescued 30 odd missing and
bodies not found. Captain of the barge was
arrested for criminal negligence
DECISION
MAKING/DECISIVENES How Businesses and Business

S IN BUSINESS models evolve in real world

CONTEXT
ELEMENTS OF HEALTHCARE BUSINESS
MODEL

Key Partners Key Activities Value Relationships Customer


Proposition Segments
What Value do we
deliver to the customer?

Lower mortality rate


Key Resources In time Emergency Channels
medicare
Better health
outcomes
Lower hospital
Costs admissions Revenues
Proactive prevention
Key Partners Key Activities WHAT Relationships Customer
WHEN Segments
WHERE
Value
HOW MUCH
Proposition
WHY
Key Resources Channels
HOW
What Value do we
WHO
deliver to the customer?

Costs Revenues
DECISION MAKING PROCESS
What are the inputs?
Preparing stage- information gathering Confusion Vs Certainty
What are the activities/actions that convert inputs into
Output/Outcome?
Timing of decisions- ending uncertainty- Sufficiency vs Perfection
What is the Outcome?
Implementation and Assessment phase – how to stop regretting for
what you decided
BUSINESS ACTIONS ARE
OUTCOME OF DECISIONS
BASED
WHAT
ON ANALYSIS OF
INFORMATION
WHEN
WHERE
HOW MUCH BUSINESS
PROBLEMS
WHY
HOW
WHO
BIAS - Hire or not Hire case study

BARRIERS
TO Excessive/Lack of information –
DECISION Technology selection case study

MAKING
Organization values – Case study
RPG Life Sciences
UNKNOWNS
Heuristics- Player
catching a ball in
9/11 Terror Attack,
field, Flight1549
landing in river

Game or Sport or STOCK


Award, Security MARKET
camera installation
UNKNOWNS
KNOWNS

there are known knowns; there are things we know that we know. There are known unknowns. That is
to say, there are things that we now know we don't know. But there are also unknown unknowns. There
are things we do not know we don't know.
One who has authority to delegate need not
be decisive.

Since Decision Making is a process, quantity


QUIZ – of information gathered determines the
outcome.
TRUE/FAL
SE No decision made is also an outcome.

Context, timeline, Impact will determine


whether a decision is operational or strategic.
SUMMING UP ….
DECISION MAKING is

a. Art of balancing Known and Unknowns

b. Science of Analysis and interpretation

c. Choice Selection

d. Trigger for Action – An Opportunity to set things right

e. Impacts all stakeholders


?????????
THANK YOU

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