WAC MODEL

• Difficult decisions

• “Big Bucks”

• Quality of decisions

• Organisation shape
• What do you have to do to make quality
decisions?

• “black box” syndrome

• One of three factors:

a) after careful analysis, evaluation, computation
etc

b) intuition, instinct, “gut feel” etc.

c) randomly or casually
• Methods (b) and (c)

• Entrepreneurs and executives

• Age old debating topic

• Arguments for “lucky” - Burton Malkiel

• Arguments for “good”:

• “always”
• “statistics”
• “bottom line”

• What all do we need to do to ensure that our analysis is sufficient?

• No one answer/laundry list

• Every situation

• Process/methodology
• Situation Analysis

• Problem Statement

• Options
• Criteria for Evaluation

• Evaluation of Options

• Funnel analogy
• Recommendation

• Action Plan

• Contingency Plan (if necessary)

• Not necessarily linear

• Tip
• Situation Analysis

• Arguably
• Counter argument
• Quantitative justification
• Qualitative justification
• Analogy
• No “laundry list”

• Tips

• Secretarial level analysis

• Under no circumstances
• Instead what is required

• WHY

• Establish a “baseline”

• If analysis thorough enough

• Problem Statement

• Main requirement
• “in a nutshell statement”
• Flow and follow
• Vital component
• Old saying
• Example – American Auto Industry
• Options

• Generate

• Creative/“out of the box” thinking

• 3 requirements:
1) they must be mutually exclusive

2) they must have a reasonable chance of being

adopted

3) they must have a realistic chance of working out

• TV example
• Criteria for evaluation

• Only half the battle

• Natural inclination

• Two disadvantages
• More scientific method

• Tip

• TV example
• Prioritising

• Self explanatory requirement

• TV example
• Evaluation of Options

• Requires

• Absolutely mandatory

• “go back to the drawing board”

• Recommendation

• Explicitly state

• Rationalisation

• TV example
• Action Plan

• Requires

• Important opportunity

• TV example
• Contingency Plans

• Not Mandatory

• Cannot be adoption

• 2 reasons
• Exhibits

• tables, charts, graphs, worksheets

• Title and number

• Calculations and workings

• No circumventing

• No Orphan or Headless exhibits

• Overall