Most companies have a fairly specific method for making decisions. It may not be perfect. It could probably be improved with a more inclusive slate of people informing decisions. Sure, some decisions end up being wrong. But experienced decision makers know how to get people in a room, look at the information in front of them, and decide how to proceed.
It’s hard to overstate how much business success relies on better, faster decision making. Bain & Company research found that decision making effectiveness drives 95% of business performance. The UK Institute for Employment found that decision practices impact 50% of employee engagement. Your company’s decision practices have a huge impact on how your business and your employees perform.
Leadership and management are largely about judgment and decisiveness, so it’s no surprise a Bain & Company study found that decision making drives 95% of business performance.
What gets measured gets managed, and what gets managed gets better, so it’s no wonder the decision-making process in most companies is slow, frustrating and stuck in the past. And since decision making is much of what managers and executives do, it’s no wonder our calendars are crammed with ineffective meetings and our inboxes are flooded with 100s of burning emails.
