Strategy for improving company decision making
After deliberation by the board, you have been elected and appointed to the position of CEO. This means that you are now responsible for the organization more from a department-level, rather than a personal-level.
However, you understand that you must improve the efficiency of decision-making at all levels of the organization in order to be more effective as a whole. You decide to conduct a series of seminars and workshops within the organization in order to meet this challenge. Provide a detailed report that you will present to the board that outlines your strategy to improve decision-making at all levels in the organization. Your report should include the following:
A plan defining, and detailing the psychology of poor financial and investment decisions and how this information can be used to aid the finance department
A process for making rational decisions and avoiding cognitive mistakes during negotiations
Detailed strategies that you would incorporate to improve the overall decision-making process throughout the organization
A system that ensures ethical approach to decision-making