Category Archives: decisoin making

The Pace of Interactions

A long time ago, I worked in a law firm. BTW, that was before the fax machine was introduced into the office as a standard piece of equipment. When I look back on how we worked back then, one thing  was very, very different. That was the pace of interactions.

The pace back then was much slower. Interactions with persons and entities outside the firm was largely by mail (now called snail mail) and meetings. Inside the firm, we wrote memos and had meetings.

There was a luxury to this. One could take one’s time in making decisions. Indeed, slowing down the pace of decision making was at least part of the value added we gave to our clients.

Now consider whatJeff Immelt says about GE in an interview he gave to McKinsey

My notion is we’re in a permanently complex world. And this historical organization chart with lots of processes is a thing of the past. We’ve basically unplugged anything that was annual. The notion is that, in the digital age, sitting down once a year to do anything is weird, it’s just bizarre. So whether it’s doing business reviews or strategic planning, it’s in a much more continuous way. We still give a lot of feedback. We still do a lot of analysis of how you’re performing. But we make it much more contemporary and much more 360-degree. So somebody can get interactions with their boss on a monthly basis or a quarterly basis. And the data you get is being collected by your peers, the people who work for you, in a much more accurate and fluid way.

The key words are “more accurate and more fluid”. In other words, things have sped up and the stress is on improving the efficiency of communication in this more complex and changing environment.

These are important factors to consider if you wish to develop strategic competence.