Forbes: The New Decision-Driven Equation For Successful Innovation Projects

In the past, change was slow. Business leaders believed if they made the right choices from “the list” of well-scoped projects, and the projects ran according to plan, they would usually get the results they expected.

In a slow world, project success was about choosing the right projects and then executing well. Changing direction along the way was a sign of an at-risk project, probably because of the wrong choice up front, a bad plan or weak execution. The old project equation was:

OLD: Approve The Right Projects + Execute Well = Successful Project Results

New Research: The 7 Decision Practices Top Companies Use To Innovate

Our new research shows there are seven key decision practices that distinguish top performing companies and act as practical benchmarks for the rest to improve and compete. In day-to-day work, top companies rarely fall short of these benchmark practices, while low performers usually do. The rest muddle along in the middle with decision practices that sometimes go right and sometimes go right off the rails.

The study is based on surveys of managers and executives in over a thousand companies, and analysis of tens of thousands of business decisions using the Cloverpop enterprise decision database. A free white paper about how to apply these seven decision practices at your company is available for download if you’d like to learn more.

Five Ways Business Decisions Making Fails And How To Avoid It

Most companies have a fairly specific method for making decisions. It may not be perfect. It could probably be improved with a more inclusive slate of people informing decisions. Sure, some decisions end up being wrong. But experienced decision makers know how to get people in a room, look at the information in front of them, and decide how to proceed.

Forbes: How Amazon Boss Jeff Bezos Uses Faster, Better Decisions To Keep Innovating Like A Startup

“Every day at Amazon is Day 1,” according to its CEO Jeff Bezos. He has reminded employees of this for decades -- Amazon will never stop being a startup. 

He even went so far as to name a building on Amazon's campus Day 1, and when Bezos switched buildings the name followed him to his new building.

Bezos thinks this focus is necessary considering what happens on Day 2, once the startup times are over.

“Day 2 is stasis," he wrote in his 2016 Letter to Shareholders. "Followed by irrelevance. Followed by excruciating, painful decline. Followed by death. And that is why it is always Day 1."

Three Reasons To Mind The Decision Gap In Your Digital Transformation

We used to expect businesses to last a lifetime, but digital transformation is a mass-extinction event for old corporations and a mass-creation event for new ones. It has changed everything. For instance, consider data from S&P, which predicts half the S&P 500 will disappear in the next decade.

How To Use Inclusive Decision-Making To Drive Innovation And Performance

What are you doing to unlock the power of inclusion in your organization? Our recent research reveals the pernicious inclusion gap between workforce diversity and inclusive decision-making in enterprises. Learn how best practices can improve outcomes and speed up innovation by measuring and closing this gap.

Future Of Work: Research Shows Millennials, Gen Xers And Baby Boomers Make Better Decisions Together

Is it better to have “up-and-comers” or “more seasoned” employees making decisions at your company?

It turns out the best answer is a mix of generations, and it’s a wake-up call to companies everywhere, from a tech industry enamored of young workers to global enterprises managing large aging workforces:

How Tech-Savvy Executives Can Accelerate The Decision Cycle

Tech-savvy executives have a pivotal role to play in accelerating the decision cycle. By asking the right questions, they can digitally transform decision making at their companies, leading to a future where decisions are tracked, transparent, de-biased, optimized and integrated.

Research Shows Diversity + Inclusion = Better Decision Making At Work

Every day there are more headlines about the challenges of workforce diversity. A focus on diversity often means a focus on hiring, and even with substantial investments of time and money, it takes years to turn the tide for companies with thousands of employees.

Infographic: Diversity + Inclusion = Better Decision Making At Work

Get the high points of our new research with this infographic, then go deeper into the surprising results and concrete recommendations with our free white paper Hacking Diversity With Inclusive Decision Making.

We studied 588 real business decisions made by 184 teams in a wide variety of companies over 2 years. Here is what we learned:

Decision making drives 95% of business performance.* It's the most important thing managers and executives do at work.

Teams make better decisions than individuals 66% of the time. Teams bring broader perspective, identify new choices, reduce bias and improve accountability.

Diverse teams make better decisions 87% of the time. Inclusion instantly activates existing gender, age and geographic diversity for better business decision making.

Diversity can increase friction 15%, but inclusion boosts results 60%. The worst combination is an all-male team deciding what a diverse group executes. This happens half the time in companies with fewer than 30% women. The best combination is inclusive decision making and diverse execution.

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