Blog -World Class Leadership

Power in Numbers: The importance of collective thinking in Corporate Decision Making

Decision making is the most basic and vital aspect of running a company and the ability to do it well is a major determinant in the level of success that a company may experience. At its best corporate decision making is a collaborative effort between those in the company that have been specifically placed in positions of power due to either their specialties or their overall business acumen. In these situations, multiple individuals seek to make decisions by analyzing specific situations, providing their input, and allowing the group to determine the best course of action. While ultimately there is a key decision maker who signs off on the final decision, that person depends on the groups’ ability to collaborate to make informed decisions. 

The problem that arises in modern corporate settings is that this type of collaborative decision making rarely occurs because of the structure of the organization. Whether the CEO is the chief decision maker and rarely requests the...

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