One of main things that the financial crash in 2007 taught us was that there needs to be consistent and sustained concentration on the effects of decisions on the overall health and value of the company.
Today most business courses at universities across the globe teach the technical skills required to succeed in business, the various accounting, financial and technical aspects especially. One of the areas that is not taught in depth is the importance of overall analysis and the impact that decisions have.
History shows that a relatively innocuous decision can have major repercussions down the line as the ripple effect multiplies. The truth is that business schools are designed to provide the skills needed for graduates to begin towards the bottom of the pyramid.
Today’s undergraduates are tomorrow’s CEOs and the thought process behind effective decision making and strategising needs to be well defined before they move into the business environment. Experience is always going to be the best teacher, but giving an insight to how decisions need to be made and the far reaching consequences they can have, is vital to future success at the upper echelons of an organisation.
It can make people more confident of making decisions when they begin to move beyond their first role, allowing for increased innovation and ideas to be shared throughout companies, rather than just with the decision makers.