The decisions leaders are faced with every day can often seem completely unique, but if executives can categorize those decisions, they can be much easier to tackle, according to McKinsey Quarterly.
Here are three types of decisions, with recommendations on how leaders can go about making them.
Big bet decisions. These are the kinds of infrequent, high-risk decisions that offer the chance to change the course of an organization for better or worse. Leaders should approach these decisions with caution and careful consideration, and break them down into smaller parts. Appointing an executive lead to gather information can also be a helpful step.
Cross-cutting decisions. These decisions are still high-risk but more frequent. Cross-cutting decisions involve multiple teams dealing with smaller challenges that still have big consequences. Communication is key and must be streamlined to ensure information is being transmitted effectively without having too many cooks in the kitchen. Go through the process of communicating practice decisions across necessary teams to pressure test your organizational structure.
Delegated decisions. These are frequent and low-risk, and can afford to be passed on to other leaders in the organization. Make a list of your most common decisions that you can afford to delegate and establish a clear delegation process that avoids overlap.