The leadership decision ‘speed trap’
Leaders need to know the difference between haste and speed, particularly when it comes to their thinking. In modern business, we seem to be in the habit of needing to be ‘fast’ to just keep up. However, going too fast can get leaders stuck in a ‘speed trap’ that can get you and your business into trouble. Feeling pressured to make fast decisions – and even feeling that you have to make decisions for others when they can make them for themselves – can be critical leadership errors that can impact upon your leadership (and whole organisation) performance. Decision making requires an appropriate amount of thinking. What we have learned through behavioural economics and psychology, is that there are common errors inherent in thinking. These errors, although well documented, are routinely made by almost everyone. Leaders, under pressure to take decisions, often fall foul of these errors, sometimes with catastrophic