Decision Making: The Problems and Solutions to a Timely Decision
We all know Aesop’s fable of the tortoise and the hare. When it comes to decision making we may find ourselves at times making tortoise paced decisions in the hope of gaining more clarity, wishing for more data, or simply because it’s in our nature to ponder decisions for a long period of time.
On the other hand, you may be the hare, making business decisions on the fly without a lot of information to back it up, or perhaps it’s because you –and your business – are always moving and need to react quickly.
Decision Making: There is No Right or Wrong
There’s no right or wrong, but this interesting blurb on Manta states that “Rapidly growing businesses have tied the speed of their decision making to their success. There are not a lot of examples that show success from slow or drawn out decisions.”
In a perfect world, we would have all the data and knowledge we need to QUICKLY make good decisions every day. Unfortunately, we don’t (but that would be a little boring, wouldn’t it?) Plus, the drawn out decision usually isn’t enormously better than the one made in half the time that your team could move forward on.
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