business leaders admit that one in four of the decisions they make is wrong,
costing their firms £800,000 a year, according to new research.
Capgemini Business Decisiveness Report found that UK businesses make 20
critical decisions worth £3.4m a year on average. Each decision is worth about
survey of 270 managers, from boards of companies with annual turnover of more
than £200m, reveals that 24 per cent of these decisions are wrong.
financial services sector has the highest ‘failure rate’, with nearly one in
three decisions being wrong, it shows.
an average of 19 ‘business critical’ decisions taken each year, this equates to
a wrong decision every eight weeks.
Cook, Capgemini’s head of consulting services for the UK & Ireland, said:
“A large part of our community of decision-makers, right across the commercial
sector, are saying: ‘We are being asked to make an awful lot more decisions, an
awful lot more quickly, with rather less information than we’d like and rather
less time to consult with people than we’d like. As a result, we are making
more wrong decisions’.”