Timely reporting followed by timely assessment and decision-making is more important to the “right functioning” of an organization now than ever.
With the pace of change occurring at an unbelievable rate, the luxury of untimely reports should no longer be a feature of any serious organization that’s intent on beating the odds of economic depression and very threatening market conditions.
To act on yesterday’s information tomorrow when opportunity to respond today is present, is an operational loophole that can be costly. Where opportunity presents itself to act now, act now! Move things along and watch how things will move along.
Organizations relying on dated reports or choosing to wait and see how the business environment will change, can very well be confronted with the risk of becoming archaic within a relatively short period. In fact, by the time they decide to act, the cost of acting or catching up may very well prove unattainable.
A renewed focus on employing efforts to get performance reports as instantaneously as possible, and re-engineering decision-making to empower more decisions at levels other than management, may very well serve as a key solution to the resolve of otherwise complex issues, that traditionally have solely been the domain of highly bureaucratic and untimely systems of decision-making.
To quickly change things that were just changed, when information dictate they should be changed, is the true definition of proactive management in action. Remember, time wasted in business always carries a cost.