Informed Leadership turns data into decisions
When addressing information-based leadership, information is often considered to be something with intrinsic value.
At M-Brain, we believe that information only holds value when it is used for a purpose. Our goal is to produce information for our customers that can be used for daily corporate and organizational decisions and strategic planning. Instead of information leadership, we speak of something we firmly believe in: Informed Leadership.
How can information be applied to making decisions?
1) Information itself creates a decision-making process, which the decision-maker takes part in before actually making the decision. Anticipation and forethought on the effects of decisions is one good example.
2) Decision-making is integrated into an existing information process; there is no separate situation of decision-making. A practical business example involves the continuous real-time analysis of customer and user information.
3) Information is brought into the decision-making situation in a centralized and visually appealing form. Note different competitor flash reports and scenario models.
Naturally, decision-making situations are different, each of them requiring different qualities from information processes. Decision-makers must always define the risks of each situation. They must ask themselves at least the following questions: Am I ready to face the consequences of scenario X ? How big is the probability of its realization? What kind of damage will a so-called wrong decision result in for my personal life, work community, company, or other parties involved?
Determining risks is often an emotional and value-laden question. When the question arises in a business environment, it is fair to say that decisions should be firmly based on information. Yet business is also a human form of operation and, as such, not always rational. Thus even the most well-informed decision, based on solid knowledge, may prove to be an unwanted one, even if is an exception.
Put differently, Informed Leadership always involves a human element. Those who monitor the stock market and its conformities professionally are more likely to make successful investments than those unfamiliar with the territory. Yet the dose of human excitement will is always there, for not all investments bear fruit as expected.
By Marjukka Nyberg