Speed Up and Delegate Decision-making

McKinsey on how companies can adopt new ways of working at speed:

  1. Make decisions faster without breaking the business. What this means in practice is fewer meetings and fewer decision makers in each meeting. Some organizations are taking to heart the “nine on a videoconference” principle. Others are keeping larger 30- to 40-person meetings (so the people that need to implement the decisions are present) but cutting the number of people with a vote. There is also less detailed preparation for each meeting, with one- to two-page documents or spreadsheets replacing lengthy PowerPoint decks.
  2. Organizations are also increasing the cadence of decisions, taking on the mantra that “quarterly is the new annual.” Holding just-in-time, fit-for-purpose planning and resource allocation on a quarterly instead of annual basis is not only faster but also makes the organization more flexible.
  3. Finally, non-mission-critical decisions can be delegated, so that top leaders focus on fewer, more important decisions: think “assign to the line” rather than “go to the top.” That means tolerating mistakes that don’t put the business at risk; a slow decision can often be worse than an imperfect one.

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