Survey 10 different organizations about how they make decisions and no doubt you’ll get 10 very different approaches. This is understandable. Differing organizational cultures need differing processes that fit the organization.
To be most effective, however, business decision making needs a strong element of balance.
For some organizations, decisions are made too quickly, with not enough information and little staff involvement. This often leads to poor, ineffective and costly decisions.
For others, the problem is just the opposite. The process is very long, with overwhelming amounts of information and too many people involved. This leads to unresponsiveness, lack of innovation and missed opportunities.
The best decisions start with clearly defining how the decision will be made, including:
- Who should be involved?
- What is right data or research to be gathered?
- How much time is realistically needed?
By starting with evaluating how decisions are made, that will be a great first step in deciding wisely.