There is no question that effective decision-making is an important element of success. However, in our latest market research it appears that organizations are not as effective at making and sticking with decisions as one might presume. Our data illustrates that companies are better at tactical decision-making and fare poorly when it comes to strategic decision-making with roughly a third of organizations reporting that it is a strong suite.
Is Your Organization Effective At Decision-Making?
In order to get a better understanding of respondents perceptions of their organization’s decision-making aptitude we asked the following question “Do you feel that your organization does an effective job of decision-making in order for the product team to successfully develop products? (Select all that apply.)” Here’s what we found.
Making and sticking with decisions can be an important component of organizational success. Yet,in no category of decision-making represented by our survey answers did more than 50% of survey responders indicate that they were good at making and sticking with decisions.
Furthermore, nearly 30% of respondents (29.7%) report that they struggle with making and sticking with decisions in all areas mentioned in the survey. Product team members perceive efforts in the area of technical decisions most positively giving them the highest marks at 49.6% while perceiving the making of and adherence to go-to-market decisions at the lowest level (29.5%).
Conclusion
The data illustrates that few organizations are perceived as having an aptitude in making and sticking with decisions both tactically and strategically. While more organizations say they do a better job at the tactical aspects of decision-making only 37% indicate that they are good at making and sticking with strategic decisions. Some will no doubt argue that their markets are too dynamic to stay the course with their decisions. However, it is clear that one of the best paths to better performance is to build an aptitude at making and sticking with strategic decisions where it is clear that the majority of organizations, including your company’s competitors, are weak.
How effective is your organization at making and sticking with strategic and tactical decisions?
Advancing the Profession of Product Management™
website I consulting I training I toolkits I books I blog I twitter