With the never-ending changes in the tech world, the latest modern, smart technologies continue to grow, further pushing the importance of digital transformation. According to Klaus Scwab, the “Fourth Industrial Revolution'' is said to be upon us. The concept refers to how innovations like Artificial Intelligence (AI) and the internet become increasingly involved in human life, blurring the lines between the two.
The abundance of digital solutions available could be seen to be spoiling decision makers with choice, but oftentimes having too many choices causes decision paralysis. How do you know what softwares or plug-ins are right for you and your business? There are many factors to consider, like ability, flexibility and even the investment required when it comes to choosing the right digital solution. In this article, we discuss the concept of decision paralysis and how to overcome it.
Psychologist and author Barry Schwartz is well-known for his work on the paradox of choice – deducing to having an abundance of choices to the point one feels rather trapped and even more paralysed, instead of freer. Having way too many options can cause confusion, anxiety and regret.
All business decisions require effort, but decisions that involve heavier investments or cause grander changes weigh more, and hence, even more of a decision paralysis takes effect. Just the thought of a simple digital change can be daunting – especially with bigger companies that are so accustomed to a certain way of operating, that switching to a fully remote or digital workflow may scare off not just bosses, but employees too.
Nevertheless, the digital age is upon us, and many companies will start to lose out if they’re not at the very least looking in the direction of a digital revamp.
More often than not, managers are faced with multiple important decisions all at the same time, which can magnify the impact of decision paralysis on individuals. Start by listing out everything that needs to be decided on, then reorganise the list according to priority. While it (usually) may seem like everything is important, you can’t solve everything at once, and prioritising tasks will make it easier to know where to start. . It may also help to input certain criterias with each decision, that way, you’ll know a bit more about what it takes to make that decision. . Include a timeline, criterion, and any other important factors that should be considered when making this decision. Find more tips on how to prioritise decisions here.
Once you’ve weeded out your top decisions to be made, you can now simplify the processby breaking it down into smaller, more digestible steps. It is easy to procrastinate or get scared when you’re looking at a big chunk of incomplete tasks, and breaking the decision making process up into smaller steps. Almost like a maths equation, start by taking important factors like criteria and timelines, and lay them out in front of you. Slowly work from there by breaking down each and every step you can take to eventually come up with a resolution. For example, if you’re picking between softwares, list the pros and cons of each, as well as how they can benefit or burden your company. If you’re deciding on whether something is right for your business or not, list out what exactly your company needs and compare that with a list of what the software provides in order to determine if it suits your business’ needs.
Of course, as much decision-making work can be accomplished on our own, sometimes it is useful to get help from a third party. Being involved in a company may make it harder to see the bigger picture, and getting qualified help can provide new and different perspectives on your decision-making process, all in all, making the process smoother. Some of these practitioners are so used to making decisions daily, that they’re able to immediately see everything laid out and swiftly point out the best decisions to be made. If you find yourself in a position where you could use a little extra help determining the next steps for your business, INTERLUNAR provides a consultation service that will aid in getting you started, and getting you closer to your goals.
Incorporating digital changes or tech advancements to a business should be at the top of your to-do list, although we understand it’s never easy. Such tech advancements aid in many areas, such as productivity, organisation, workflow and so on, and overlooking this may bring about more issues in the long run. Every leader should always seek to simplify their employee’s tasks and jobs, in order to provide them with more room to breathe and learn. Employees should not be treated like cogs in a well-oiled machine, and today’s employees should be provided with more attention and care. Switching to automated digital platforms can boost workflows tremendously, and there’s no better time to start than now.