CMR CLASSICS: Speed and Strategic Choice: How Managers Accelerate Decision Making

摘要

Previous scholarly research on decision making has ignored speed in favor of topics such as the breakdown of rationality and the difficulty of identifying goals. It has also emphasized the study of large bureaucracies in stable settings, rather than the high velocity environments that many decision makers actually face. However, most managers have recognized that speed matters. A slow strategy is as ineffective as the wrong strategy. So, fast strategic decision making has emerged as a crucial competitive weapon. But, knowing how to be fast is difficult. The process involves accelerating information processing, building up the confidence to decide, and yet maintaining the cohesiveness of the decision-making group. Should managers learn how to be fast? One executive summarized the prevailing reality in many industries: "No advantage is long-term because our industry isn't static. The only competitive advantage is in moving quickly."