Our research indicated that 40% of European office workers suggest that making decisions without sufficient information leads to higher than necessary stress levels. It’s not just the company that is at risk from blind decisions, but employees’ health and wellbeing too. In fact, when asked to predict the likely impact of their most important decision, respondents to the PwC survey gave estimates ranging from under US$1m to over US$10bn – a clear indication of the true impact an un-informed decision can have on the business. Poor decisions over production priorities can lead to wasted man-hours, late deliveries, inflated work-in-progress, increases in working capital and worse, poor customer satisfaction levels – all factors that could prove detrimental to the future performance and profitability of the company. Similarly, introducing engineering changes without assessing the impact on current works in progress or raw materials can affect orders and increase lead times. For example, choosing to present a proposal without having reviewed the profitability of past orders could squeeze profit margins. However, what many businesses may not realise is that un-informed decisions can have serious business implications. Our recent research, conducted with ICM, reveals that over three quarters (79%) of office workers in the UK, Sweden, Germany and the UAE have had to make un-informed decisions at some point in their career, with a third (33%) doing so on a weekly basis, and perhaps more worryingly, 14% doing so on a daily basis. However, how many of these decisions are made with the correct information? Unfortunately, the reality is not many. Understanding the risks of ill-informed decisionsĪccording to the PwC 2014 Big Decisions survey ‘ Gut & gigabytes’, 44% of the executives surveyed make a big decision every three months. In any environment, being able to respond decisively, quickly and correctly is vital. Businesses now operate in a 24/7 global environment, employees work across organisational boundaries and time-zones, customers demand instant responses, and for the manufacturing industry in particular, a growing skills-gap can expose personnel in decision-making positions. However, the business landscape has changed dramatically over the past decade.
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