We collect cookies to analyze our website traffic and performance; we never collect any personal data. Cookie Policy
Accept
The Tycoon Herald
  • Trending
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Money
    • Crypto / NFT
  • Innovation
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Leadership
  • Health
  • Sports
  • Entertainment
Reading: Want Leaders To Make Better, Faster Decisions? Tackle This Critical Area
Sign In
The Tycoon HeraldThe Tycoon Herald
Font ResizerAa
Search
  • Trending
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Money
    • Crypto / NFT
  • Innovation
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Leadership
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© Tycoon Herald. All Rights Reserved.
Want Leaders To Make Better, Faster Decisions? Tackle This Critical Area
The Tycoon Herald > Business > Want Leaders To Make Better, Faster Decisions? Tackle This Critical Area
BusinessLeadership

Want Leaders To Make Better, Faster Decisions? Tackle This Critical Area

Tycoon Herald
By Tycoon Herald 7 Min Read
Share
SHARE

Is a meeting actually necessary to make this decision?

Shutterstock

Executives typically spend about 40% of time making decisions — and the majority of them believe that time is poorly spent, according to research from McKinsey & Co. As a CEO and simplification expert who believes in delegating decisions to the lowest possible level — also known as the principle of subsidiarity — I’ve seen the benefits of wise and timely decision-making on organizations in every industry.

From first-to-market advantages to higher levels of trust and more blocks of free time on employees’ calendars, the ripple effects of a good decision process can be seen across an entire company. To transform the quality and frequency of decisions in your business, explore the four pro tips below.

1. When you need to make a decision, plan your next step to produce that outcome. Start by questioning whether a meeting is actually necessary to make the decision. Would a document from subject-matter experts be the most efficient route to a well-considered decision? Or is it best served by inviting people from relevant areas of the business for a productive debate? If one person can make the decision, delegate it to her — no meeting required. Either way, assign a reasonable date by which to review viable options and different perspectives in order to reach a decision point.

And speaking of options, more is not merrier. A co-authored study from Stanford and Columbia Business School found that when five or more options are on the table, subjects have a harder time deciding and often deferred any decision. To enable more efficient decision-making in your business, limit the choices to fewer than five.

2. Assign decision-making to one or several qualified individuals, not an entire group or business unit. The failure to clarify who should make which decisions can slow down decision-making and continue the cycle of unnecessary meetings. By delegating the decision, it doesn’t mean other voices shouldn’t be consulted. It simply means that all those voices don’t need to be present when the decision is made.

MORE FOR YOU

When a consumer-goods company tracked their decision-making process and the contributions of each person involved, they realized that around 40% of the people included in most decisions weren’t relevant. As in, when H.R. decisions are being made, the R&D team doesn’t need to be in the room. Trim your own meeting invite list accordingly.

3. Confirm that the Decision Maker/s will be in attendance. Many large organizations rely on a Chief of Staff to coordinate executive meetings and ensure that decision makers are attending. If this role doesn’t exist in your company, sharpen your own skills in this area. Are you and your team attending meetings in order to contribute a vital perspective? Or out of a need to feel informed or important?

Personally, I subscribe to the empowerment rule used by pharmaceutical company Bristol Myers Squibb. It’s called “Who’s the Decision Maker/s?” and it’s designed to stop a time-wasting meeting from being held if there’s no decider in attendance. When you receive an invite to a new meeting, inquire about which Decision Maker is attending. If there isn’t one, politely decline — and spend that hour doing something decisive instead.

4. Structure the meeting itself for better decision-making. Meetings where decisions are made shouldn’t look and act like information-sharing or status meetings. First, consider the element of pre-work that’s necessary for a decision to happen in the room: A meeting agenda and often, a pre-read document prepared by relevant experts.

Share those documents in advance so attendees have the opportunity to thoughtfully digest the information instead of speed-reading it — or worse yet, reading it after the meeting has started. Consider adding an etiquette note in the agenda to set a decisive tone: “Multi-tasking runs counter to the goal of this meeting, so if you aren’t able to do the pre-reading or will be less than 100% present, please kindly decline.” 

During the meeting, allocate equal time to competing viewpoints — and be rigorous about monitoring crosstalk. Instead of allowing the loudest voices in the room to hijack the meeting with phrases like “This is what I think we should do,” remind everyone to make a note of any unanswered Qs and raise those in the Q&A portion of the meeting.

Throughout the Q&A phase, redirect people who go on tangents and gently interrupt anyone who’s merely repeating something another attendee said. While course-correction isn’t pleasant, many of us have picked up unproductive work habits and need retraining on how to act in decision meetings. In my experience, the discomfort of being called out for a redundant or tangential point not only prevents repeat performances by the offender but by everyone present.

Once you reach the decision point on the agenda, each decision maker should be asked if they can commit to this decision. Their answer shouldn’t be reactive or a gut instinct because the previous steps — identifying the decision makers, consulting experts beforehand, even the number of options being weighed — are designed to bring a balance of expertise and data into this moment. Ideally, leaders will lean into responsible decision-making and gain wisdom if it brings about an unexpected outcome.

You Might Also Like

Leadership Coaching for the Actual World

The Excessive Highway and the Low Highway of Evaluation

Leadership Coaching for the Actual World

Leadership Coaching for the Actual World

Leadership Coaching for the Actual World

TAGGED:LeadershipThe Forbes Journal
Share This Article
Facebook Twitter Email Copy Link Print
Championship play-offs: Stuttering Sunderland must ‘flip the swap’ towards in-form Coventry for Premier League return
Sports

Championship play-offs: Stuttering Sunderland must ‘flip the swap’ towards in-form Coventry for Premier League return

Sunderland are aiming to return to the Premier League for the primary time since 2017 however head into the Championship play-offs towards Coventry Metropolis with out tasting victory since early…

By Tycoon Herald 10 Min Read
Alleged ‘Scream’ Gangbang Trainer Lower Off From Intercourse in Jail, No Conjugal Visits
May 9, 2025
Right this moment on Sky Sports activities Racing: East India Dock and Zoffee headline Chester Cup conflict
May 9, 2025
All The Finest Make-up Offers From Amazon’s Summer time Magnificence Sale
May 9, 2025
Canadian vacationers snub US and head to Mexico
May 9, 2025

You Might Also Like

Leadership Coaching for the Actual World
Leadership

Leadership Coaching for the Actual World

By Tycoon Herald 9 Min Read
Leadership Coaching for the Actual World
Leadership

Leadership Coaching for the Actual World

By Tycoon Herald 3 Min Read
Leadership Coaching for the Actual World
Leadership

Leadership Coaching for the Actual World

By Tycoon Herald 4 Min Read

More Popular from Tycoon Herald

MEET THE FATHER OF COADUNATE ECONOMIC MODEL
BusinessTrending

MEET THE FATHER OF COADUNATE ECONOMIC MODEL

By Tycoon Herald 2 Min Read
Woman Sentenced to 7 Days in Jail for Walking in Yellowstone’s Thermal Area

Woman Sentenced to 7 Days in Jail for Walking in Yellowstone’s Thermal Area

By Tycoon Herald
Empowering Fintech Innovation: Swiss Options Partners with Stripe to Transform Digital Payments
InnovationTrending

Empowering Fintech Innovation: Swiss Options Partners with Stripe to Transform Digital Payments

By Tycoon Herald 7 Min Read
Sports

England bowl Eire out for 45 in file 275-run victory as Tammy Beaumont hits 150 in second ODI

England romped to a file 275-run victory over Eire within the second ODI in Belfast, bowling…

By Tycoon Herald
BusinessReal Estate

Tapping The Potential In Making Old Houses New Once More

The renovation of older houses by companies that specialize in buying and fixing America's aging ...…

By Tycoon Herald
Trending

U.S. Blew Up a C.I.A. Post Used to Evacuate At-Risk Afghans

A controlled detonation by American forces that was heard throughout Kabul has destroyed Eagle Base, the…

By Tycoon Herald
Leadership

Northern Lights: 17 Best Places To See Them In 2021

Who doesn’t dream of seeing the northern lights? According to a new survey conducted by Hilton, 59% of Americans…

By Tycoon Herald
Real Estate

Exploring Bigfork, Montana: A Little Town On A Big Pond

Bigfork, Montana, offers picturesque paradise in the northern wilderness. National Parks Realty With the melting of…

By Tycoon Herald
Leadership

Leaders Need To Know Character Could Be Vital For Corporate Culture

Disney's unique culture encourages young employees to turn up for work with smiles on their faces.…

By Tycoon Herald
The Tycoon Herald

Tycoon Herald: Your instant connection to breaking stories and live updates. Stay informed with our real-time coverage across politics, tech, entertainment, and more. Your reliable source for 24/7 news.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact Us

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Terms of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices
© Tycoon Herald. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?