Good decisions provide the fuel that drives an organization forward, which is why decision making is one of my five key CEO responsibilities. However, I often I see inexperienced CEOs stall their organizations by struggling to pull the trigger on a decision.
When I visit with these CEOs, they typically view the situation as merely a temporary pause while they contemplate which way to go. The problem is that to the organization, no decision IS a decision. When a person can’t decide what to have for lunch, it affects only his or her hunger. When a CEO can’t make a decision, it affects everyone in the company.
I encourage CEOs to address this issue directly by examining the “do nothing” option and treating it like a real option. Think consciously about the pros and cons of NOT making a decision. Doing nothing is sometimes the right decision, but only when it is made consciously and not the result of a lack of courage. It’s fine to decide you want to do nothing, just do it with purpose!