The ability by an executive to make timely decisions is critical to a company’s success. Executives that continually ponder issues are simply doing great favors for their competitors. In today’s radically changing environment, those companies and executives that regularly procrastinate will ultimately fail. It is simply not prudent to wait for all the facts before making a decision.
Oftentimes, if a person has a sound business acumen and common sense, along with a high sense of professional ethics and morals, the decision will be the right one.
It is far better to make a decision than none at all. Certainly there is a correlation between the magnitude of the issue and its possible risks from a bad decision, and the amount of time that should be spent analyzing the issue and gathering supportive data.
As Rodney Dangerfield said in the movie Caddie Shack, “While we’re young!”.
