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Tuesday, August 20, 2013

On Better Decisions

 Interesting piece from Bain & Company:  Steps to better decisions.  The technical and social aspects of the decision process have been a long time interest.  We studied how the decision and innovation process intersected.  Often it is done poorly and haphazardly.  Technology gives us the opportunity to support the decision process,  and mobile devices make it available anytime and anywhere.

' ... Decisions are the coin of the realm in business. No company can reach its full potential unless it makes good decisions quickly and consistently and then implements them effectively. Good companies can’t become great. Troubled companies can’t escape mediocrity. Our 10-year research program involving more than 1,000 companies shows a clear correlation (at a minimum 95% confidence level) between decision effectiveness and business performance. And it isn't just financial results that suffer. Organizations that can’t decide and deliver are dispiriting to their employees. From the C-suite to the front line, people feel as if they’re stuck in molasses or trapped inside a depressing Dilbert comic strip. ... "

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