Mind the Gaps in Decision-Making Data, Processes
A new study shows that at least 40 percent of execs aren't happy with their companies' decision-making abilities. The DecisionROI Institute launched the "Business Traction From Better Decision Action" initiative in Q2 2006 to explore the state of decision-making and come up with suggestions for best practices. Based on interviews with more than 300 executives, the institute's "Business Traction" report found that...
A new study shows that at least 40 percent of execs aren't happy with their firms' decision-making abilities, yet most aren't taking steps to improve the process. In fact, the decision-making process may be one of the least-understood and poorly defined processes in the enterprise, seldom analyzed and almost never the target of best practices.
The DecisionROI Institute, a group created by the Business Performance Management (BPM) Forum, launched the "Business Traction From Better Decision Action" initiative in Q2 2006 to explore the state of decision-making and come up with suggestions for best practices. Based on interviews with more than 300 executives and funded by Cognos, the institute's "Business Traction" report found that:• More than 70 percent of respondents said bad decisions had either a significant, alarming or degrading impact on their company's performance
• There's a huge confidence gap between C-level titles and the management team: More than 60 percent of C-level execs said they are confident in their decision-making capabilities versus less than 22 percent for VP/Director/Managers • Only 26 percent of organizations surveyed have a decision-making process or policy in place • The root causes of poor decision-making fall primarily in the corporate arena, including: -- Poorly defined processes and practices -- Unclear corporate vision, mission and goals -- Unwillingness of leaders to take responsibility -- A lack of reliable, timely information Cognos senior VP Dave Laverty, a DecisionROI Advisory Board member, says the report shows that "cultural, structural and technological issues are hindering the ability for stakeholders to receive clean and consistent data that enables informed decision-making." More info is available at www.BPMForum.org.A new study shows that at least 40 percent of execs aren't happy with their companies' decision-making abilities. The DecisionROI Institute launched the "Business Traction From Better Decision Action" initiative in Q2 2006 to explore the state of decision-making and come up with suggestions for best practices. Based on interviews with more than 300 executives, the institute's "Business Traction" report found that...
About the Author
You May Also Like
2024 InformationWeek US IT Salary Report
May 29, 20242022 State of ITOps and SecOps
Jun 21, 2022