A 2018 McKinsey survey revealed that inefficient decision-making costs Fortune 500 companies about $250 million annually, indicating a significant waste of executive time due to these bottlenecks.
Compelling decisions are driven by a clear vision and purpose; they inspire team members to work hard towards a common goal and avoid bottlenecks in decision-making processes.
Teams with well-connected members excel in decision-making by effectively coordinating activities, adapting to demands, and leveraging an invisible knowledge base of team dynamics.
To improve decision-making quality, teams should focus on both observable team dynamics like communication, and less observable ones such as coordination and adaptation processes.
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