Few of us give much thought to exactly how we go about making decisions. While we know that some decisions are more important than others -- and we therefore put more time into gathering and considering as much information as possible before making the decision -- it's the rare businessperson who actually routinely applies any sort of formalized decision-making process. This is a mistake. Why? Because there's a right way and a wrong way to make decisions.

According to the Decision Effectiveness Foundation, there are six elements to making a good decision:

• Creative alternatives (what are my choices?)
• Useful information (what do I know?)
• Sound reasoning (am I thinking straight about this?)
• Commitment to action (will I really take action?)
• Helpful frame (what is it that I am deciding?)
• Clear values (what consequences do I care about?)

As the illustration shows, these six elements are like links in a chain. A decision is only as good as the weakest link. While you might not always have time to go through all six elements in detail before making a decision -- for example, you've got to shut off a leaking water line NOW, before it floods your warehouse -- the more time you invest in considering each of these six elements, the better the quality of your decision will be.

The Decision Effectiveness Foundation is in the process of leading a series of workshops across the country on the topic of making better decisions. The first workshop has already taken place in Philadelphia, with upcoming workshops planned for San Diego, Seattle, and Boston. If you would like to learn how to make better decisions, consider putting one of these workshops on your calendar.