Accelerated Decision Making
As a leader one needs to take decisions, make choices. Frequently. On a variety of things.
Having the required information is a key pre-requisite while taking decisions. The pertinent question is how much of it?
Many a times leaders wait for excessive data, information, confirmation, clarity; often leading to delays in the process of decision making.
‘Most decisions should probably be made with somewhere around 70 percent of the information you wish you had. If you wait for 90 percent, in most cases, you’re probably being slow’ — says Jeff Bezos.
Taking decisions when you’ve 70% of the information you wish you had — also known as Accelerated decision making, hastens the decision making process significantly. Helps leaders take decisions even when it’s foggy, when visibility is poor.
Again, Accelerated decision making is not taking decisions in haste. It’s rather creating a sense of urgency that’s constructive.
Good news is that one could consciously practice Accelerated decision making. It helps a lot, especially in a scale-up context.
#scaleup #leadership #ceo
[If you want to discuss any specific questions that you may have on scaling-up your business, write to pk@pknarayanan.com]
