- Title
- Morning Letter 17th
- Date
- 2005/07/13
- Contents
What leaders often get confused with decision making is understanding when to make a sole decision or a decision made by majority. Of course, there are many times when majority's opinions are important.
In our case, we decide our cafeteria's menu through survey on a regular basis. The same procedure is done when we give out gifts to our employees on national holidays. On the other hand, it is also true that there are times when the leaders have to make decisions on their own. (These decisions are different from arbitrary decisions). Immature leaders are more likely to depend on the decision by majority due to their lack of expertise, fear, or pressure on making mistakes and consequent responsibilities.
A very good example of it would be Korean semiconductor industry which overtook Japanese competitors. This is in fact, a very famous story about Japanese semiconductor companies' hesitation on investment (and expansion) from 1M to 4M, while Korean entrepreneurs made very bold investments, and took away the initiative from Japanese.
A company is like a living creature. Therefore, it grows on the best decisions that are made by the leaders, and also on the attention that the employees pay.
Most of the decisions require the leaders' determination and expertise, because those decisions will decide both the faith of the company and themselves. What is most important here is that the best decisions are not made by one's ability or intuition, but by training.
In other words, one should start making the best decisions for their own matters within the organization, and take full responsibilities, instead of just passively doing the tasks and reporting them to the upper management. For this, there needs to be a significant empowerment within the organization, and management's flexibility to embrace the wrong decisions made by their employees. Especially for manufacturing companies like us, there are many decisions to be made at the field every day. I always tell my young leaders that "making a wrong decision is much better than being indecisive."
Here are some tips that I learned through my experiences, which might help you make better decisions.
First, do not make a decision when you are spontaneous or unstable. Wait until you find tranquility and give it a one more thought.
Second, consider whether the decision will be a plus or minus to the company.
Third, think about the motive of my decision. Is this for your own comfort or for your passion for the work?
These will help you make better decisions.
Dear future CEOs!
If you face the decisions that you have to make within the organization instead of avoiding them, you will develop a very good judgment through repeated decision making process.
Leaders are not naturally born. They are made through a long training. Just how sturdy steel is made by passing through burning fire, I would like to encourage you to prepare for your future in the same manner. That I believe will also be precious software to promise the bright future of our economy.
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