Published by:
Harvard Business Publishing
Length: 2 pages
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Abstract
Rapidly changing markets in many industries have called for techniques that expedite production and product development, but this shift into high gear has made the managerial tasks of forecasting, planning, and organization rushed and erratic. Fast-cycle decision making is not just about making decisions more quickly--it is a rethinking of the decision- making model, where managerial intuition replaces extensive analysis as the main driver of decisions. Today''s wired world is perfectly suited to fast-cycle decision making--time is saved by linking many managers to each other and using e-mail, the Internet, and information-sharing software to merge their knowledge bases. This article surveys some of the latest writing on the subject, and draws on the experience of several companies and leading management thinkers to provide tips for improving managers'' ability to act quickly--and wisely.
About
Abstract
Rapidly changing markets in many industries have called for techniques that expedite production and product development, but this shift into high gear has made the managerial tasks of forecasting, planning, and organization rushed and erratic. Fast-cycle decision making is not just about making decisions more quickly--it is a rethinking of the decision- making model, where managerial intuition replaces extensive analysis as the main driver of decisions. Today''s wired world is perfectly suited to fast-cycle decision making--time is saved by linking many managers to each other and using e-mail, the Internet, and information-sharing software to merge their knowledge bases. This article surveys some of the latest writing on the subject, and draws on the experience of several companies and leading management thinkers to provide tips for improving managers'' ability to act quickly--and wisely.