Want Leaders To Make Better, Faster Decisions? Tackle This Critical Area
By Lisa Bodell for Forbes
Executives typically spend about 40% of time making decisions — and the majority of them believe that time is poorly spent, according to research from McKinsey & Co. As a CEO and simplification expert who believes in delegating decisions to the lowest possible level — also known as the principle of subsidiarity — I’ve seen the benefits of wise and timely decision-making on organizations in every industry.
From first-to-market advantages to higher levels of trust and more blocks of free time on employees’ calendars, the ripple effects of a good decision process can be seen across an entire company. To transform the quality and frequency of decisions in your business, explore the four pro tips below.
1. When you need to make a decision, plan your next step to produce that outcome. Start by questioning whether a meeting is actually necessary to make the decision. Would a document from subject-matter experts be the most efficient route to a well-considered decision? Or is it best served by inviting people from relevant areas of the business for a productive debate? If one person can make the decision, delegate it to her — no meeting required. Either way, assign a reasonable date by which to review viable options and different perspectives in order to reach a decision point.