How to Make Decisions Effectively and Quickly: KoRe Techniques

How to Make Decisions
both Effectively and Quickly

KoRe techniques for quickly evaluating innovative ideas and making effective decisions

Fast Decision Making Techniques, Fast Idea Evaluation

The ability to make strategic decisions quickly is vital to your success and survival in the increasingly competitive marketplace.

As Rupert Murdoch said, today "it is not the big that eats the small, but the fast that eats the slow."

Entrepreneurial opportunities arise constantly.

You and your partners often come up with promising business ideas.

All these opportunities and ideas must be quickly assessed and the best ones selected for implementation.

How to Make Decisions Effectively and Quickly: KoRe Techniques

It is impossible to realize all the opportunities and ideas that arise.

You need to develop some sort of objective prioritization criteria to be able to separate the high potential and high priority ideas, opportunities, and projects from those that are less important.

Methods for efficient and rapid evaluation
of ideas and opportunities

Vadim Kotelnikov quotes You move foreward faster when you stop to think

Technique	Duration	Application
Gold Coin Cards	Seconds	Selection of the best idea by a group
80/20 Principle	Seconds	Quick assessment of effectiveness of an idea
Guiding Principles	Minutes	Quick filtering of new strategic ideas
Weighted Guiding Principles	Minutes	Defining a numeric value (in %) of a strategic idea
Perceptual Positions	Hours	Thorough evaluation of a proposed new course of action
Superconscious	Hours	Having analyzed the options, take a nap or bath to engage your powerful superconscious mind
InnoBall simulation game	Hours	Looking farther, evaluating derivative growth opportunities and implementation scenarios

To become a market leader, you must be fast. To be fast, you must make right strategic decisions quickly. To make right strategic decisions quickly, you must have weighted guiding principles (WGP).

How To Select the Best Business Ideas and Opportunities for Implementation: 4-Step Approach

Techniques for Fast Decision Making and Idea Evaluation

Once you come up with a business idea, you need to know how to assess whether it is worth pursuing.

→ The Jazz of Innovation: 11 Guiding Principles

Smart, → creative people can generate lots of good ideas for projects.

→ Loose-Tight Leadership

At the end of an ideas campaign or the idea generation phase of the → brainstorming session, you should also be able choose the ideas you wish to take further quickly. A good brainstorming session can generate a lot of ideas. If you have no means of determining which ideas will best meet your needs, it is all too easy to become overwhelmed by ideas and select none of them, or to choose to implement one of the most obvious but least effective ideas.

The best approach is to choose the best ideas from all ideas generated in the brainstorming session and then evaluate them. Normally, you should determine the evaluation criteria and the evaluators before you begin your brainstorming session.

Gold Coin Cards

The quickest group-based way of evaluation of ideas generated during an advanced two-phase brainstorming session is to use Gold Coin cards.

Initially, I invented the two-phase "Garden" and "Kitchen" brainstorming model and Gold Cards for rapid selection of the best idea for Innompic Games where teams have just 10 minutes for brainstorming a great creative solution. Now, Gold Coin cards are used internationally anywhere where rapid selection of the best idea by a group is required. In particular, Gold Coin cards are used during INNOBALL entrepreneurial simulation games both for training purposes and to make a real radically innovative project a great strategic success.

Weighted Guiding Principles

We developed a set of
→ guiding principles
for our disruptive projects
(see CimJoy guiding principles for an example) and use
the method of Weighted Criteria to assess quickly new strategic ideas.

I also help my trainees to master this powerful technique.

Idea Evaluation by Weghted Criteria: Fast Decision Making, Idea Management, Innovation Tools

→ 3Bs of Strategic Creativity

Three-Step Approach to Choose the Most Promising Ideas

Step 3
Evaluate the most promising ideas. Have the evaluators rate each idea against each criterion. The following methods can be used for idea evaluation:

The 5x5 evaluation matrix is the simplest one. You determine five criteria and compare each idea to each criterion, giving it a score of 0 to 5 points depending on how well the idea meets the criterion. Add up the scores and multiply by four and you have a percentile score for each idea. This facilitates easy comparison of ideas.

Evaluators should also be able to add remarks to the evaluation. This will allow them to clarify scores and explain how the idea could be modified to improve its score.

Intuition

The best and fastest decisions are made from intuition which is drawing from your knowledge, experience, and your ability to receive and interpret signals from the Universe. Your rich experience is key to building your intuitive decision making ability. The more patterns and happenings you get exposed to, the more your intuition can draw from experience and statistics... More

Joke about Fast Evaluation of New Ideas

The Company Director to the Board Chairman: If any new ideas come up while I am out of the meeting for a brief phone call, my vote is 'No.' ... More

A person with a new idea is a crank until the idea succeeds.

Mark Twain

Whenever you see a successful business,
someone once made a courageous decision.

Peter Drucker

Radical Project Management

Improvisation-driven Model ● Skills of a Radical Project Leader

Idea Management

How To Stimulate Generation of Radical Ideas

Creativity Management ● Cross-pollination of Ideas >> Tips

Letting the Best Ideas Win

Brainstorming >> 10 Brainstorming Rules >> How To Run

Fast Company

Making Quick Decisions

Lessons from Winners