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The purpose of this assignment is to discuss and analyse the reasons for and the backgroung behind the incresing speed of decision making as organisations find themeselves in an increasingly competitive environment.
The first 200 words of this essay...
'The pace of decision making continues to increase as organisations find themeselves in an increasingly competitive environment.'
The purpose of this assignment is to discuss and analyse the reasons for and the backgroung behind the icresing speed of decision making as organisations find themeselves in an increasingly competitive environment.
In the first half of the essay I wpuld like to discuss the theoretical backgroung, than support them with examples and finally to draw conclusion.
Decision speed has been found to be a vital factor in influencing firm performance in high velocity environments1. This finding -inductively derived in the study by Bourgeois and Eisenhardt- was deductively tested and quantitatively supported by Judge/Miller who argued:
"The conclusion that (decision) speed and performance are associated is certainly in keeping with the experiences of a growing number of corporations that are relying on organizational speed to improve their financial performance. For example, Bower and Hout argued that organizations that make fast decisions 'are like World War II fighter pilots- they win by making faster decisions which preempt the opposition's moves."
According to Judge/Miller it is due to the increasingly global markets and shortened product life cycles
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