As a managing director of a small IT company I faced with a difficult decision regarding the strategic direction of the company. After several away days with arguments at board and management level a friend recommended I try the six hats approach.
In 2 hours we had clearly and fairly discussed seven different options. 2 hours afterward that we had identified which direction to go in with buy in from all key members of staff.
I'm sure this is not as significant as some of the other entries to appear in this competition, but none the less this approach helped our company in the right path coming into some very turbulent market conditions.