In an era where artificial intelligence can crunch numbers faster than any human and automation can handle routine tasks, there's one asset that becomes increasingly precious: executive cognitive capacity. As a senior leader, your ability to make complex decisions, at speed, often with incomplete information and under significant pressure, is what truly sets you apart.
According to McKinsey, executives spend 37 percent of their time making decisions on an average. For these decisions to be of high quality and at speed, the executives making the decisions have to have certain pre-requisites.
While enough has been said about good decision making, not enough is talked about how one gets to be a good decision maker?
This cognitive premium emerges from the synergy of five critical capabilities which are:
Zoom Lens Agility (Big picture + Details)
Calibrated Risk intelligence
Perspective Synthesis
Collaborative Leadership
Iterative Excellence
This promotes organisational and individual growth for the executives making decisions at speed and quality.
How do executives make decision making as their more valuable currency with the above capabilities?
Master your terrain to develop Zoom lens agility.
Build deep industry knowledge and experience that can offer you an ability to make sound decisions. Become an expert in pattern recognition that transcends surface level analysis. Build a reputation for insight that commands boardroom respect.
Risk intelligence
Executive decision making hinges on taking strategic bets to pivot your organisation. It includes Identifying inflection points that demand bold action and
Aligning organizational resources behind transformative initiatives.
This would translate strategic vision into executable reality.
3,4 & 5. Diverse perspective synthesis, collaboration & iterative excellence
The myth in decision making is that you need to do it alone. All great decisions are enriched by the collective even though the buck stops with you.
As you scale your career, don't carry the burden of making decisions solo.
Bring your peers, your teams, industry experts, mentors, advisors and coaches to the most important decisions in a year to get started on the right foot.
Become happy when someone brings a completely opposite perspective or plays devil's advocate. Transform opposition into opportunity for deeper analysis. This is what will make your decisions sound.
All the above is only possible if you Invest in yourself.
A cognitive premium cannot be achieved with a failing body and an overthinking mind.Invest in your health.
Invest in your mental wellbeing.
Create your own board of directors for strategic counsel including advisors, mentors and coaches.
Cultivate relationships with truth-tellers who will challenge your assumptions.
Create space for deep thinking amidst operational demands.
Your cognitive premium is either appreciating or depreciating—there is no middle ground.
What small action will you take to build your own cognitive premium?
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