It seems obvious: decisions matter. Companies that make good decisions and act on them perform well. Yet poor decision making remains a chronic problem at many companies.
And corporate dithering doesn't just hurt financial results - it also hurts people. Organizations that can't decide and deliver are dispiriting places to work.
Most of us know the signs: decisions take longer than they should. Or decisions are made by the wrong people, based on the wrong information. Worse, a company makes a good decision, but then executes it poorly—or never acts on it at all.
For the next few months, we plan to use this space to share our insights on decision effectiveness, as well as some practical examples from companies such as ABB, Ford Motor Company, MetLife and Hospira.
Over the past 25 years, we noticed that companies get better at decision making when they focus on it—and their results improve too. Bain's book, Decide & Deliver, includes a lot of research, several articles, and interesting feedback from executives about what it takes for companies to make better, more effective