Should we invest in a new prime business location: using Option Solving?

A company senior team was about to take an important strategic decision: should we go ahead with investing in a current planned, new business location? They had already invested a lot of time and other resources in pursuing one prime option, but now were having second thoughts due to a number of considerations. They were invited to use the option solving technique to arrive at an optimum conclusion or decision because it utilizes the “whole mind” decision making capabilities, rather than our traditional rational, analytical approach. Our rational minds do not have the same range of capability as our intuitive powers.

Their initial task was to use their rational minds to formulate an appropriate question to stimulate their extraordinary intuitive powers for coming up with the best overall judgment of their options. This question and associated consider-ations became: “What is our best option for pursuing this prime business location opportunity, considering it could potentially bankrupt the company, the union labor costs, handling the investors, it’s in the heart of things, needs clear success criteria, and we have no special landlord connection?” They came up with six additional considerations, although felt the ones in this question were the most important. Note their use of both positive and less favorable considerations.

With this question in place, they were encouraged to develop two Yin and Yang “bookends” as framing limits by being the most unlikely options. In our Latest Example, you will see they turned out to be: “Close 1 city business to invest in new site,” at one end, with, “Set our sights on $50M revenues and invest accordingly” at the other. The reasons why these were least likely are given in our picture example.

They then put their efforts into producing more plausible but still creative options. The fact that they produced seven alternatives really encouraged them to search for every valid option. One of the seven turned out to be: “Invest in making it a special destination” …option E.

Happy with their range of options, they now took some emotional distancing time, by talking about other executive issues, while their option picture was hidden from view to allow her intuition to reflect on their possibilities. After about twenty minutes, they came back to their option picture, took a snap-shot view, and made their best intuitive choice. While their choice was fresh in their minds, they formulated an action plan.

If you have an example of your own, please share it with this blogger, through the COMMENTS area.
Thanks Option Solving. (NOTE: Next posting in 2 weeks: “Young people solving their career issues, again?” We’re always interested in your COMMENTS or go to peter@ileadershipsolutions.com to connect with the blogger.)

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