High-stakes decision making is a necessary, and often unenviable part of an executive's job. Although there is no formula to determine whether you are making the right decision, you can ask yourself certain questions that help steer you in the right direction, according to strategy + business.
Listed below are four questions you should ask yourself as you reach the threshold of making a high-stakes decision.
1. What will you regret if you decide not to act and are wrong?
2. How hard will it be to reverse the decision? If it will be easy to reverse, act quickly.
3. Who else will be affected by your decisions? The more widespread the repercussions, the longer you should take to carefully consider the decision.
4. What will be the effect of the decision on your personal or organizational resilience?
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