Importance of Effective Decision Making TechniquesAs any strategist can tell you, being anticipatory gives a great competitive advantage. It is very important for businesses to conduct a thorough analysis of any given situation in order to develop a solution. Choosing the right tool or technique is crucial to the success of a group seeking the best solution. Important decisions are made every day. Some of these decisions will make the difference in the success or failure of a business and will affect the livelihoods of those employed or dependent on the business as well as its success. There are key questions to answer and obstacles anticipated in order to find the right solution. Failing to make the right decision at the right time can mean losing business to a competitor and threatening the future of an organization. Decision-making tools and techniques help you identify new opportunities, avoid being caught off guard, and turn potential threats into healthy prospects. There are many tools and techniques for choosing shape. The choice is yours… The right tool, or technique, for the job There are many tools and techniques to help businesses ensure the most productive solution is implemented. The technique examined here is that of the Six Thinking Hats. The Six Thinking Hats technique is a technique developed by world-renowned creative thinking teacher, Dr. Edward de Bono. He is the author of numerous books that establish new techniques for making creative and productive thinking possible in the workplace. The Six Hats, whose colors represent a different angle from which to view a given problem, help guide the thinking process in a system ...... middle of paper ...... a given situation or proposed solution. When used as intended, the Six Hats can help a group explore ideas and become more productive, allowing participants to come alive. The Six Thinking Hats technique has helped many companies develop stronger, more resilient plans and solutions than would otherwise be possible. Reference from Bono, E., 2005. The Six Thinking Hats. Retrieved August 6, 2005, from http://www.debonoonline.com/Six_Thinking_Hats.aspDe Peralta, M., et al, 2005. Decision-Making Tools and Techniques. Six thinking hats. Retrieved August 6, 2005 from http://members.tripod.com/careedpunkdMind Tools, 2005. Decision Making Tools, How to Make Better Decisions. Retrieved August 7, 2005, from http://www.mindtools.com/TeachNet, 2005. How to Manage. Retrieved August 8, 2005, from http://www.teachnet.com/how-to/manage/sixhats120800.html