Decision making framework

Implementing a decision-making framework enables you and your staff to make effective, objective decisions when a significant business decision is required.

Creating a decision-making framework

Hundreds of decisions are made every day that are taken effectively and implemented well. But there are also decisions made that may seem confused, over-complicated or ineffective.

A decision framework provides a structured way to make decisions that support and enhance your organisation. The goal for all decision making should be to maximise the probability of positive outcomes. A decision framework will enable you (or your department/organisation) to:

•
keep everybody aligned
•
ensure decisions are visible through all levels of planning
•
make clear how choices and plans support organisational strategies
•
work in

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

TAKE A FREE TRIAL

Latest Risk & Compliance News

House of Lords conclude committee stage of Data (Use and Access) Bill

The House of Lords has completed the committee stage of the Data (Use and Access) Bill, the final day of scrutiny took place on 18 December 2024 and focused on amendments related to children and AI, national security and data privacy risks and AI compliance with UK copyright law. The bill, aimed at harnessing data for economic growth and improving digital governance, has undergone thorough examination over multiple sessions, addressing issues such as protection of children, misuse of AI rules, data mining and processing of personal data. The next stage, report stage, is scheduled for 21 January 2025.

Businesses should expect a role in tackling fraud next year

Law360, London: If one word sums up a key trend in financial crime enforcement in 2024, it would be fraud, specifically consumer fraud.

FCDO imposes sanctions on Georgian officials for human rights violations

The Foreign, Commonwealth and Development Office (FCDO) has announced sanctions against five senior Georgian officials in response to violent attacks on journalists and peaceful protestors. This action, coordinated with the United States, imposes UK travel bans and asset freezes on the individuals responsible for the crackdown following public opposition to the Georgian Dream party's decision to pause the country's European integration. The sanctions follow the UK's recent suspension of programme support to the Georgian government and restriction of defence cooperation. The FCDO's decision aligns with condemnations from UN experts and the OSCE regarding the pattern of repression and human rights violations in Georgia, particularly in light of the use of force against protestors after the October parliamentary elections.

SARs in Action Issue 29 published

The UK Financial Intelligence Unit’s (UKFIU) magazine, SARs in Action, has published its 29th issue focusing on recent developments in economic crime prevention. The publication emphasises the financial sector's crucial role in detecting and disrupting human trafficking, which affects an estimated 49.6 million people globally. It introduces the Illicit Finance Public Private Threat Group (PPTG) Hydroponics Cell and its recent Amber Alert. The magazine also covers the 2024 Global Financial Institutions Partnership Summit in Ottawa and announces the winners of the 2024 Tackling Economic Crime Awards. Additionally, it highlights Companies House's analysis of company formations used for money laundering and introduces a new Trafficking in Human Beings Handbook, underscoring the importance of the regulated financial industry in combating this pervasive criminal enterprise.

View Risk & Compliance by content type :

News