McKinsey Survey Highlights Keys To Strategic Decision-Making
Friday, January 9, 2009
Do strong decision-making processes lead to good decisions? This McKinsey survey (dated November 2008 with responses from 2,327 executives from the full range of industries, regions, and functions) highlights several process steps that are strongly associated with good financial and operational outcomes. The results highlight the hard business benefits—such as increased profits and rapid implementation—of several decision-making disciplines. These disciplines include ensuring that people with the right skills and experience are included in decision making, making decisions based on transparent criteria and a robust fact base, and ensuring that the person who will be responsible for implementing a decision is involved in making that decision. Finally, although corporate politics sometimes seems to undermine strong decision making, some types of consensus-building and alliances apparently can help create good outcomes.