Updated: Nov 1, 2019
The VUCA world in which we find ourselves requires us to getting better and faster when making decisions. To be agile and adaptable when it comes to changing direction. To set aside our fears and embrace the uncertainty. It's a lot to ask of anyone.
Let's take decision-making. We all want to make the 'right decision', especially when the stakes are high. That often means taking more the time to gather all the information and variables before taking the decision. But taking too long is costly, even more costly than moving quickly with less information.
What would happen if instead of waiting to have 90% of the information you need you decided when you had 70% of the information? You could fail, but, you would learn.
To adopt this approach you would have to be good at course correction i.e. learn from what happened. Is it a complete mistake that requires you to start over or do you simply need to tweek or fix a part of it? You would also have to have a strong culture that includes a bias for action, agree or disagree but commit and learning versus blame.
If speed isn't something your organisation or team is renowned for, how would you go about changing that? Is your team or organisation ready #changereadiness to make this change (yes it's a change)?
How will you define 'speed of decision making'? What will you need to do to support it (policies, processes, structures, information flow, etc.)? How will you reinforce the right behaviour (fast quality decisions vs fast and wreckless or slow and expensive)? Does everyone have the mindset and skills to make it work? Do you have clear roles and responsibilities for the different types of decision making (operational, high risk, collaborative, etc.)?
Like all change this too is a process. Do you understand the change process (that aplies to every change)? Do you have enough change fitness #bechangefit to make it happen? Try our Free online course to learn more about both.