►Eliminating Decision-Making Delays◄
THE SHADOW OF THE LEADER-
Our consistent observation gained from nearly 3 decades of work with enterprises ranging from highly successful to barely successful is that effective decision-making outcomes are usually directly correlated to the speed with which business decisions are made.
The majority of decisions needing to be made in business are non-complex due to the fact that when business opportunities occur, productive solutions are usually crucially important and frequently self-evident on a binary scale. However, seeking and weighing endless options creates imaginary self-importance in those unable to make decisions, culminating in what we call the coefficient of friction when decisions finally occur.
Lengthy decision-making deliberation nearly always results from a combination of inability and insecurity, both of which are anti-attributes of highly capable leaders. As one Chief Sales Officer told us eloquently in 2015, “I think the purpose of these endless meetings is only to log who will be fired if our belabored decisions fail.”
Decision-making quality and speed, along with 2 other enterprise attributes, is directly derived from the top enterprise leader through the shadow that he or she casts upon everyone receiving a paycheck, even if employees happen to be 12,450 miles distant on the opposite side of this planet.
Generally speaking, increased speed improves business outcomes largely without exception except in the field of watch making by hand.
DECISION-MAKING SPEED AS A DISTINCT COMPETITIVE ADVANTAGE-
In our experience, one of the biggest causes of executive team discombobulation is any slow speed with which business decisions are made.
High decision-making speed is in fact the only competitive advantage that costs businesses nothing. Unnecessarily lengthy decision-making habits and delays create significant excess costs directly correlated with the number of people involved and thus distracted from more beneficial business actions.
Our research on this topic with numerous clients has shown that lengthy decision-making dances remove significant energy from subsequent efforts to execute delayed decisions successfully with improved business outcomes. Since 2007 we have observed that decision outcome failures tend to have their Genesis in the exhaustion and distractions created by lengthy decision-making dances that include individuals who simply cannot dance fast.
Yes, important pursuits such as exiting burning buildings are accomplished very quickly while things that are not important in people’s minds take much longer. Labored decision-making very frequently creates marginal decisions in the psyches of those individuals responsible for executing them, as well as a lack of the collective energy necessary to ensure success of eventual decision execution.
A LONG AGO LESSON FROM “NO COUNTRY FOR OLD MEN”–
Coin tosses provide a 50% chance of success, quickly, without analyses or lengthy meetings and resulting delays. They are binary and also devoid of politics and distractions.
One of our entertainment sector client Presidents has frequently shared with her direct reports for 3 years, “Let’s either have quick AND fully informed decision-making or just do coin tosses because tortuous decision-making dances do not provide even a 50% likelihood of decision success.”
And in every meeting involving more than one other executive she places a heads-up U. S. quarter on the table in front of her.
PLEASE REMEMBER THIS-
Increasing executive and enterprise decision-making speed with the direct result of undeniably improved financial results and enterprise brand is quite simple.
Our usual first of 8 recommended actions to that end is for all executives to establish firm decision action execution dates on a very near-term basis while also ensuring that indefinitely deliberative executives are removed from weighty decision-making responsibilities while also not being put in charge of emergency building evacuation procedures.
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