What are the Consequences of Decision Making Delays?
Prolonged decision making can have several negative implications for a business:
Opportunity Costs: Delays can result in missed opportunities, such as potential partnerships or market entry. Reduced Competitiveness: Slow decision making can give competitors an edge. Employee Morale: Delays can lead to frustration and demotivation among employees. Customer Satisfaction: Inaction can impact customer experiences and loyalty. Resource Wastage: Time and resources spent on prolonged decision making can be costly.