Approximately 72 percent of companies have admitted at least one strategic initiative to stop working in the last three years, due to defects in their decision making.
This is according to a recent study by the Institute of Management Accountants (CIMA) and the American Institute of Certified Public Accountants (AICPA), which states that business leaders are struggling to make the right decisions.
Research suggests that information overload, excessive bureaucracy, lack of trust and incentives that are not aligned with the objectives, are all elements that contribute to do business around the world a wrong decision.
"Connecting the dots: the decision for a new era", the report examines a number of board-level executives in large organizations in 16 countries.
He showed that not only the leaders admit doing wrong decision, 80 percent say the wrong information is used to make strategic decisions, with 42 percent of companies admit that their organization has lost a competitive advantage because "were slow to make decisions.
Information overload has been found to be one of the areas where top leaders are struggling with 36 percent saying no deal here.
About 86 percent of organizations high performance and evaluate the management information they need, focusing on key value drivers of the business model.
Almost a third of executives say the biggest obstacle to more decision to make decision to coordination problems caused by compartmentalized and bureaucracy.
Charles Tilley, CEO of CIMA, said: "Bad decisions make a bad deal, so these results are a cause of great concern.
"Above all, leaders need to think in an integrated manner This means it has a clearly defined business model and all decisions about return;. Collect and quickly analyze all relevant information from all parts of the company , and it focuses on key performance indicators rather than instinct or hearsay ".
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