What it takes to make a good decision
Are you good at making decisions? Given how many we make throughout the day, I bet most of us believe that we are. But our process for those “important” decisions could likely be more efficient.
We often tackle big, important decisions by bringing together a group of people, exploring different approaches and outcomes, and debating their merits before actually moving forward with a plan of action. And that’s not even taking into account second-guesses or backtracking that is common when making a business decision.
Don’t get me wrong – discussing an issue and developing a response is not a bad way to approach decision-making. But a survey from management consulting firm McKinsey & Company revealed that almost half of C-suite executives believe more than half the time they spend making decisions is ineffective. In response, the company provided three strategies to help leaders make better decisions – and do it faster:
- Make decisions at the right level. It can be hard to delegate, but a president or CEO of a company can’t make every decision – that is a huge misuse of time. Ensuring managers and employees are empowered to make decisions within their purview will result in a more efficient and effective process.
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