Decisions are the building blocks of an organization. The growth and reach of an organization depend on the decisions that they make on every step. Be it product design, go-to-market strategies, marketing campaigns or even administration, the overall success of the organization is completely dependent on decisions.
Needless to say that the faster the decisions are made, the sooner the organization can reap benefits.
However, decision-making is often where many organizations fail. To get everyone on board and make an impactful decision is where organizations struggle the most because many organization doesn’t have a process or a structure for making decisions.
According to a survey conducted with 350 executives at global companies by Harvard Business Review, only 15% said that their organization helps the business outperform competitors.
This is where the concept of RAPID Decision making comes into the picture.
What is RAPID Decision Making?
This model was developed by Bain & Company and offers a structured approach towards decision making and helps managers identify activities needed to make the right decisions.
RAPID is an acronym for Recommend, Agree, Perform, Input and Decide. You can read more about it here.
Understanding and Implementing RAPID Decision Making in life and at work
It all starts with Recommending a decision or action. Whether it is something personal or professional, knowing what decisions are to be made is the first step. When implementing this in your personal life, you can ask your friends and family about the recommendations or proposals about things that need to be done or decided. For example, an investment or a new habit.
When implementing this stage in your professional life, you can ask your team members to contribute recommendations that need to be decided. It can either be a project or even the smallest task. The most important thing to note is that you should give everyone the opportunity to contribute. You will be surprised at how beneficial this can be.
The next step is to Agree. This is where you get everyone on board with the recommendation. So, whether it is an investment or a project, getting everyone’s approval is a way of showing that each voice matters.
Now, you can start with the next step, i.e., Perform. This is the step where accountability comes into play and a person or a group is assigned with the responsibility of making a decision and are required to do their research and create a process to carry out the decision.
The next step is Input where the process is explained to others and this is also where any further opinions are taken into consideration.
The final step is to Decide when everyone is clear about the process and the decision is executed. The person or the team is responsible for the implementation of a decision.
By using this model, the decision-making process is well structured and streamlined. This results in quick decisions making and because the steps ensure that every possibility is covered, the benefits or the outcome of the decisions made using this model are positive.
Even though this model may not be applicable everywhere, it is worth trying.
Let me know in comments how you utilized this model and what benefits you experienced.