Decisions in Paradise Business Scenario
The decision making technique to be applied for current situation in the country of Kava should be the ‘Six Thinking Hats’. Six thinking hats is a powerful technique that helps to look at important decisions from a number of different perspectives. It helps to make better decision by pushing one to move outside their habitual ways of thinking. It helps to understand the full complexity of the decision, and spot issues and opportunities to which one might otherwise be blind.
Many successful people think from a very rational, positive viewpoint. This is part of the reason that they are successful. Often, though, they may fail to look at a problem from an emotional, intuitive, creative or negative viewpoint. This can mean that they underestimate resistance to change, fail to make creative leaps, and do not make essential contingency plans.
If we look at a problem with the 'Six Thinking Hats' technique, then we will solve it using all approaches. Our decisions and plans will mix ambition, skill in execution, sensitivity, creativity and good contingency planning.
Each ‘Thinking Hat’ is a different style of thinking. These are explained below:
• White Hat: We know that the white hat enables us to look at the data available to us already, and we infer this data in order to develop a better solution. Applying this to the case, it is established that Kava is an insignificant country in the south pacific with huge potentials for trading in oil, coffee, cocoa, sugar, spices, etc. It is a diverse country with people of different religions and nationalities. Labor is relatively cheap although half of the population is under 15 years of age. The country is exposed to various natural disasters such as tidal waves, hurricanes, floods, tornadoes etc, and at the same time is also confronted with terrorism, all of these factors poses a very difficult situation for any business to operate. We also are aware that there are high risks of fatal diseases that could affect the labor. We need to take into account all of these factors and make sure that we do not miss out on relevant data that would have a direct impact on our solution.
• Red Hat: While the organization will develop a sound decision based on critical thinking and reasoning, it is very important to know how these decisions will impact people’s emotions that are directly related to the business. In this case, we need to look at the people, government and terrorists emotions that could be either positive or negative towards the company. Because all these groups of people have a keen interest into the company’s operations, it is very important for us to know whether the acceptance towards change from them.
• Black Hat: Looking at things very pessimistically, cautiously and defensively, we should worry that the government’s projections will be wrong. The economy maybe about to enter a ‘cyclical downturn’, in which case the trading and other business opportunities...