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• Not only how bad the worst outcome might be, but also how likely
that outcome is to happen.

It is also useful to consider what the risk of the worst possible outcome
occurring might be, and to decide if the risk is acceptable. The choice can

be between going “all out for success” or making a safe decision.
Accountability for a decision and the unpredictability or uncertainty that
surrounds most decision-making within an organization means that a
person has to assume some degree of risk with each decision. No decision
of importance can avoid all risk, because no one can foresee all

consequences of a decision. An effective leader must not be afraid to take
risks and then be accountable for all the decisions that he or she makes,
whether they turn out to be right or wrong. Unfortunately, a lot of people
do not like to make mistakes, so they avoid making any decisions that
could be risky or a problem. They don’t want to be held accountable for
anything that goes wrong.

7. Deciding on the values and level of importance

Everybody has their own unique set of values, which is what they believe
to be important. Stakeholders for the organization may have one set of

values and expectations, top management may have another, and the
organization’s customers may value still other aspects.

Depending on which values are considered important, different opinions
may seem more or less attractive. If the responsibility for a decision is
shared, it is possible that one person might not have the same values as the

others. In such cases, it is important to obtain a consensus as to which
values are to be given the most weight. It is important that the values on
which a decision is made are understood because they will have a strong
influence on the final choice.

People do not make decisions based on just one of their values. They will

consider all their values which are relevant to the decision and prioritise
them in order of importance. For example, if you were to buy a house,
what would be the five most important factors to you?

David Kolzow 212