A thread on how great decision making orgs think about decisions
Covering:
why good decision processes are so impactful
how to make better, faster decisions
frameworks & tools
Decisions can be systematized, like an assembly line. Read on to learn how👇
1/ Leaders spend a lot of time making decisions.
Most C-level execs and managers spend over 30% of their time on decision making. Time spent on decisions increases with seniority. 61% say most of their decision-making time is used ineffectively. https://mck.co/3dvEu0R
2/ For big decisions, the ROI for good practices is huge.
Stanford had companies revisit existing projects and apply decision best practices to the major decisions taken. The savings from the changes made were $1000 per $1 spent on investing in decision analysis.
3/ Good decision making orgs make fast high quality decisions and are rewarded with higher returns