Chapter 3 : Decision Making and Ownership

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Hey, Business Leaders of Tomorrow! Welcome to the third blog. I’m your host Amit Chawla, Business Clarity Coach. Today, we’re diving deep into the crucial aspects of decision making and ownership in leadership.

Did you know that according to KPMG analysis, 83% of merger agreements did not increase shareholder returns? And who takes such decisions? They are top-level leaders with extensive global business exposure and experience. This dichotomy genuinely puts decision making under the scanner. On one hand, such critical decisions are a must for future business growth. But, if these decisions don’t yield expected results, then who must own it?

Ratan Tata once said, “I don’t take right decisions. I take decisions and make them right.” This quote is conclusive enough. As a leader, you need to focus not only on your business decisions but also on owning the outcomes. But how to go about it? Let’s navigate through an interesting real-life case story.

The Dilemmas of Decision Making

In your professional journey, have you ever faced dilemmas such as:

  • Should we build a new product or grow the existing one?
  • Should we expand into a new geography now?
  • Will my children be able to take over the reins and run my business?
  • Should I sell my business?
  • Should I acquire another company?
  • Should I hire senior professionals in the company or continue growing the existing team?
  • Should I let go of some staff to reduce the cost?

These questions are many, but you need to make the right choice. Imagine the esteemed promoters of a company at a crossroads needing to make a decision that might reshape the roadmap of the company’s future. At such pivotal moments, it becomes increasingly crucial as the question boils down to matters of ownership. Let me share one such situation I dealt with involving Harish and his son, Uday.

A Tale of Two Leaders

Harish, a seasoned businessman in his mid-50s, had steered his manufacturing business to decent heights over the last 10 years. It called for struggle, failures, and trials to scale it up, and it was his badge of pride. Harish was planning to acquire an existing business to venture into a new business vertical, aiming for accelerated growth. But it also involved his son, Uday.

Uday, the young 30-year-old, recently married, was the only heir to Harish’s legacy. A passionate millennial, Uday scanned through every opportunity, picking what was dynamic and exciting. In contrast, Harish focused on businesses that would generate more revenue and profit. Harish was keen on ‘Door Manufacturing’, while Uday was set on starting a cafe-line. Both had strong, valid reasons.

This was a classic case of conflict in a legacy business. The only way to solve such a dispute is through a heart-to-heart talk, ideally facilitated by a neutral outsider like a clarity coach.

The Role of a Coach

The job of a coach is not just to tiptoe along with you at every step but to set up the context, let emotions flow, and then find a resolution. In instances where divergent personalities and viewpoints lead to clashes, a dialogue must guide the discussion toward empathy. This process of dialogues is covered extensively in my SAMVAAD series.

If choosing the next venture got Harish and Uday into a loggerhead, it also opened up a list of questions sparked by individual doubts and pain points. Harish doubted if his son was truly interested in becoming the future CEO, while Uday questioned his control and competence.

Finding Clarity and Ownership

The first clarity needed was whether Uday was prepared to become the CEO in the next 3-5 years. After several conversations, it was clear he wanted to take charge but lacked certain leadership skills, which he was ready to develop. The next question was, “Whose decision is it ultimately?” If Harish decided, the project’s long-term sustainability might be doubtful. But if Uday pursued his passion, the project might not start due to a lack of support from his father.

As a coach, I had to find a solution through dialogue, highlighting a key pillar of leadership: decision making and its inseparable ally, ownership. Stephen Covey once said, “Leadership is a choice, not a position.” As a leader, you must have a framework or process for decision making.

The Ownership Mindset

Here’s my mantra for an ownership mindset: “I am the problem, and I am the solution for everything that happens to me.” This bold statement calls for a huge inner transformation to accept and adapt. Decision making and ownership of your decision is a fantastic trait that follows you both in your professional and personal life, helping you grow and develop into a person in total control.

In the next blog , I will share a preview of a leader who acts as a compassionate catalyst in effectively bringing about mindset change among working women professionals. Stay tuned.

Amit Chawla (Business Clarity Coach)

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