DECISION MAKING
Why Companies Need To Make Decisions Faster
By Fawzia Ali-Kimanthi
We are all involved in making decisions . Whether it is in our homes ( where to live , which fridge to buy , which school to take our children , which tailor to select to make that dress for a wedding ) or at work . We all make decisions . And we have all made some bad decisions but some of these have taught us how to approach decision making better . In our careers , at all levels of management , we must make decisions . Strategic decisions will be taken by more senior members of the organization . Depending on the organization , we are asked to contribute to the process by providing data , a perspective , and a proposed direction . decision align with our strategy .
Unclear roles : whenever an organization is going through a transition it is critical to ensure all teams are clear on their roles and outcomes expected . You would agree that if not managed well , there is duplication of efforts , people waiting for others to take a call and in the end , no one takes the call .
Lack of a decision-making process : this is critical in ensuring that strategic decisions and operational decisions are handled differently . A large amount of work is put on hold as teams wait for decisions to be made .
Shifting Gears On Decision Making
To speed up decision making in any organization , the fundamentals need to be right .
• The organization needs a clear strategy .
• The organization structure must support delivery of the strategy with very clear roles and responsibilities .
• Clarity in the decision needed with all key stakeholders in the meeting .
Slow Speed Of Decision Making
The speed of decision making especially in the uncertain times we live in ( VUCA world ), could be a make or break for any organization . In an article posted by fingertip . org in 2018 , five reasons why companies fail in decision making were highlighted . These were :
Lack of strategy : where the strategy is clear , decision making is made much simpler as the key question asked is , how does this
Poor communication : when discussing strategic decisions , a debate with a wide range of input is key in ensuring critical aspects for consideration are reviewed . Decisions made in silos might end up being poor even if the intention was good .
Lack of sufficient information : decision makers require a certain minimum amount of information to make a sound decision even when the environment is changing .
Slow decision-making processes lead to employee dissatisfaction , low productivity , low performance and in extreme situations , losses and closure of businesses .
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A wise person once told me , aim for progress and learning and not perfection . By making decisions with speed and by being vulnerable to learn as we go , we will grow our leadership capability and empower the teams that we lead .
• Sufficient information to aid in discussion and decision making .
• Finally , being swift in taking the call
While all these might be clear , tools to enable decision making become key in driving good decision making .
Fingertip has developed a tool on Microsoft teams that digitizes decision making by creating transparency to all the teams that need to decide , availing all the information to the team , allowing teams to exchange ideas that aid in eventual decision making .
Decision Making Process At Amazon
I am currently reading The Bezos Letters . I recommend this book to all our readers . In this book , we review letters that Bezos wrote to shareholders annually covering various aspects of business . They are filled with gems .
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