Fast Company:

Fast Decision-making

Guiding Principles

Fast Evaluation of Any Proposed New Course of Action

 

Vadim Kotelnikov

You guiding principles will help you
stay on course, keep going, and
make better and faster decision.

Vadim Kotelnikov,personal logo


 

"In the world of high technology, it's not what you've got, it's when you've got it." – Jonathan Waldern 

 

Guiding Principles Dennis Kotelnikov Shared Values Core Competencies Create Your Vision Vision, Mission, Strategy Strategic Intent Never Give Up Fast Decision Making: Weighted Criteria Stay Focused Guiding Principles: Why and What, Dennis Kotelnikov

 

 

Establishing Fast Decision-Making Process

If you have a set of guiding principles, any proposed new course of action – company initiative, new product, or new direction – would need to answer only one question:

 – Does it fit our firm's guiding principles?

Charles Schwab's 9 Guiding Principles

  1. Is it fair and responsive to our customers?

  2. Does it respect our fellow employees and the spirit of teamwork?

  3. Are we striving relentlessly to improve what we do and how we do it?... More

Google's 10 Guiding Principles

  1. Focus on the user and all else will follow.

  2. It's best to do one thing really, really well.

  3. Fast is better than slow... More

The Tree of Online Success

 

Value Mantra

A value mantra is a 3-5 word shorthand encapsulation of your customer-focused intent.  Your value mantra must be a deeply resonant piece of your company's DNA and a core guiding principle for making strategic decisions... More

Examples of Guiding Principles

Charles Schwab    CimJoy    CVCI    Google    ITW  ●  Lend Lease

 

Market Leader

Business Success 360    Strategic Alignment

Inspiring Culture

Techniques for Fast Idea Evaluation and Decision Making

Weighted Criteria    4×2 Perceptual Positions

Why Guiding Principles?

Defining your beliefs and guiding principles is important to running a successful business.

Fast companies that have demonstrated the ability to sustain surge and velocity all have established sets of guiding principles to help them make quick decisions.1

Abandoning bureaucratic procedures in favor of a practical, a down-to-earth list of guiding principles will help your company make the decision-making process much faster. Only one question will need to be asked of any proposed course of action: Does it fit our guiding principles?

Guiding Principles Defined

Guiding principles are the law that serves as a basis of reasoning and action, a personal code of conduct that leads, shows the way and directs the movements of your organization. Guiding principles are a broad philosophy that guides you organization throughout its life in all circumstances, irrespective of changes in its goals, strategies, type of work, or the top management.

A set of guiding principles has value and makes you faster only if the do the things this definition implies.

Living the Guiding Principles

A simple set of guiding principles for making decisions should be shared by everyone in the organization. They should be lived first and then enforced.

Success Stories Best Business Practices Facebook

If people have access to more information and are more connected, it will make the world better; people will have more understanding, more empathy. That’s the guiding principle for Mark Zuckerberg and all other Facebook leaders that keeps them going... More

Success Stories Best Business Practices Charles Schwab

Charles Schwab pioneered seamless stock trading on Internet in 1996 – much faster than their large competitors – and went from a tiny firm to the world's largest financial services company.

Acting with lightning speed in accordance with Charles Schwab's Guiding Principles, the company was able to introduce online trading service e.schwab to the market within months of conception... More

Success Stories Best Business Practices Lend Lease

Founded in Sydney, Australia, in 1958, Lend Lease is one of the world’s leading fully integrated property solutions providers, with strong development, investment management, project and construction management and asset and property management capabilities.

Lend Lease’s vision is to be the leading international property company. The company committed to creating and building innovative and sustainable solutions, forging partnerships and delivering strong investment returns. At Lend Lease not a single strategic decision is made without the decision maker consulting the firm's guiding principles... More

 

 

Success Stories Best Business Practices ITW

ITW Global Automotive is a global industrial company. ITW leaders apply the 80/20 Process to everything they do in order to get a lot of things right. They believe the future of good business is deeply rooted in the past.

By following its guiding principles designed to enhance customer focus, productivity, innovation and profitability, the company is able to make continual process and product improvements for customers, while producing solid results for our shareholders. This ability to produce commercial innovations on a continual basis for our customers is the foundation of the corporate success... More

 

 

References:

1. It's not the BIG and eats the SMALL... it's the FAST that eats the SLOW, Jason Jennings and Laurence Haughton

2. "What Are Your Guiding Principles?", Brad Sugars

3. Cleco's Guiding Principles