Decisions, decisions, decisions. We’ve all been there, some of us hundreds of times over! We have at one point in our lives had to choose between two different courses of action, and often agonised over them even if both would probably lead to good outcomes.
How do you decide when you are presented with two great opportunities? How do you make tough decisions that will completely change your life? Our decisions shape our lives. The connection among our decisions lies not in what we decide, but in how we decide. ISFIRE asked eight industry leaders and professionals the following questions:
Q: WHEN FACED WITH 2 GREAT OPPORTUNITIES, HOW DO YOU DECIDE WHICH ONE TO GO?
“With an opportunistic entrepreneurial mind, I shall never wish to choose, as both opportunities, if they are actually great opportunities, must not be left unexplored and unexploited. I believe the choice is always between working hard And working harder. I would choose the latter to aim at benefiting from both opportunities. Obviously, the resource constraint at times is binding and one may have to forego some opportunities. However, if the two opportunities are good enough to mobilise more resources, this option must be explored. The end result could very well be success in one and failure in the other, but then we are faced with uncertainty of success even if only one was chosen.
My philosophy has always been to exploit all the good opportunities. Nevertheless, it is important to assess the opportunities thoroughly before pursuing them. It is possible that two seemingly great opportunities may turn out to be false alarms, once thoroughly investigated. If there is huge difference of evaluation between the two, then obviously the one with greater degree of success must be chosen. Two factors are important in evaluation: inherent strength of the oppor- tunity; and my ability to exploit it. If an opportunity is seriously good but I know that I, or my team, will not be able to deliver, it is not a great opportunity for me. It is not for me but rather for someone else.”
Dr Humayon Dar, Director General & CEO, IRTI, Islamic Development Bank
“When we have to compare between two opportunities, we usually listen to our gut and think fast but not slow. I follow a very simple concept when I have to compare between two opportunities, which is a risk return trade-off. The return that I look for may not necessarily be in the form of a 100% financial return; but it could be in the form of ethical, social, and value added return. And I always try to think slow to remove any biased resulted from emotions, thinking fast and their consequences.”
Dr. Mahmoud Al-Homsi, Research Economist at General Council for Islamic Banks and Financial Institutions (CIBAFI)
“Irrespective of circumstances always ask yourself when deliberating the finan- cial and career upside and the downside of each choices whether is it really an op- portunity or just an attractive disaster wrapped up as a decoy to make it look like something that you cannot refuse. Most importantly, ask yourself whether these opportunities resonate with your personal core values as a person coexisting with fellow beings to improve their lives. Don’t just do things right but constantly do the right things even better!”
Dato Wan Mohd Fadzmi, Independent Director, Sumitomo Mitsui Banking Corporation.
“This is what you have been working so hard for. Whether it was those nights in prayer, the endless grind, the focus on the straight path, this is what you have been blessed with. You think the choice is difficult, but in reality you know what you will decide, you know which path to take, and you can feel it deep down in the bottom of your gut. In the end, there is no wrong choice to make, it has already been written. Whatever you decide, be firm and full of conviction and do not have any regrets. No mistakes, just opportunities to learn, no failures just lessons on how to succeed. Don’t look back, you’re not going that way!”
Abed Hakim, Assistant Vice President-Head of Social Media,
Dubai Islamic Bank
“I vividly remember when I had to make the choice of either moving to a new position in a local financial institution or to stay put in a foreign financial institution which I was very comfortable and was treated well. The considerations were very much different as monetary benefit was not the main factor influencing my deci- sion. To be honest, the two main factors that had influenced my decision to move were the ability to contribute more to the organization and faster opportunity to move up the corporate ladder. Since I will be based in the Head Office of the local institution rather than at the regional office of the foreign institution, I opted for the local financial institution. It is important to get recognition from top management or to be noticed by them if you want to move up fast.
Decision making is never static as the considerations changes at different stage of your working life. I guess for me, my decisions are quite simple – set your career goals early and work towards it, and of course, your heart will move in tandem with your goals.”
Ferdaus Toh Abdullah, Deputy Chief Executive, Affin Islamic Bank
“ONE, evaluate your choices. Know what you want and how the opportunities will bring you closer to what you want in life. TWO, Consult. Ask people around you – you’ll be surprised how enlightening their advices can be. THIRD, Decide.
Sometimes, it doesn’t matter which side of the fence you end up with. Once you have decided, work with it and don’t look back.
FINALLY, when you have taken a decision, put your trust in Allah swt. Certainly,
Allah swt loves those who put their trust (in Him) (al-Imran, 109). Personal decisions are always the hardest. Some we regret, some we’re proud of. Both are lessons to us as guidance to make better decisions in future.”
Marina Mardi, Assistant Vice President Finance
“The one that will bring the greatest benefit to my key stakeholder. Start with why your business exist and whom do you serve. Most of the time, it is your customers. If that great opportunity, would resolve in your customer being happier, satisfied and amazed by your service or product, that is the best opportunity. Many a time, we start to seek out in maximizing shareholders value and identify an opportunity that may be incorrect. If that great opportunity leaves your customer better off than before, this will eventually lead to better enterprise value.”
Abdul Aleem Habeeb, Manager, Asia Region at International Islamic Trade Finance Corporation
“Like yin and yang, opportunities generate duality of good possibilities and adverse exploitations. This awareness, hand-in-hand, with upright life guiding
principles will be the pathway for my decision to select THE opportunity.
In addition, one needs to be passionate over the subject matters and not merely follow the latest craze or fad. Passion is highly inspirational and necessary. It encourages sustainable contribution and continuous thriving interest that will drive over and against challenges to attain the necessary quantitative and qualitative objectives and goals.”
Belinda Gan, Executive Director, Itramas Corporation
