Choose Better with RAPID Decision-Making Model
By being confident and secure in your decisions now you can avoid regret later. Implement the RAPID decision-making model process.
How can small businesses make use of the RAPID Decision Making Model?
Decision making is key for a successful business. Change can only be made once a decision has been made. Additionally, small businesses decisions in particular can impact company more so than that large businesses. Most people think that decisions made by large companies have the biggest impact, but forget that a small business’ growth is dependent on every decision made. For this reason, using the RAPID Decision Making process can be very helpful for a startup debating whether to increase the number of members to improve efficiency. New team members can affect a small business drastically, and the right member can increase productivity while outweighing salary costs.
Likewise, another benefit of using the RAPID Decision Making Model is how it blocks rash decisions. As a small business owner, many decisions are made each day. Sharing the decision making power can ensure that the business’ well-being is in mind and personal biases are set aside. These decisions are made through a short process that is designed to consider all possible factors in the different steps of the RAPID Decision Making Model.
What is RAPID Decision Making?
RAPID Decision Making is a tool created by Bain that is designed to help businesses make high-quality decisions. Every decision has an outcome, whether immediate or delayed, good or bad; and they are all based on the quality of the decision made. Small business should use the RAPID Decision Making model to increase their business’ future growth. Furthermore, they can use it effectively by planning out every stage of the decision-making process to help them understand what the final decision must be. RAPID is an acronym that stands for the different people involved in any decision.
R stands for Recommend.
This is the starting point of the RAPID Process. It occurs when a person recommends a path or presents an alternative course of action. Their recommendation must be objective and based on facts and research.
A stands for Agree.
A small group of people will have the power to accept or decline the recommendation. They must agree with the proposed decision before they can proceed to the next stage. If they decline the recommendation, the person who holds the “Recommend” role must make adjustments until the group is satisfied.
I stands for Input.
This role provides any information needed for sound decision making. The person in charge must take into consideration all questions that must be answered before moving on to the next stage.
D stands for Decide.
The person who takes on the “Decide” role must be the sole decision maker. In addition, they will be in charge of implementing the recommendation immediately. They are also responsible of making sure the “Perform” role executes it the right way.
The last role must “Perform” the decision quickly. When a final decision is made to help a business grow it must not be acted on slowly.
Benefits of practicing RAPID Decision Making
One of the main benefits in using the RAPID Decision Making is being able to consider all the possible factors. This ensures that decisions are made in a high-quality manner. RAPID allows everyone involved to be a part of the decision-making process. It implements roles for each individual and makes it clear who is responsible for each part. In addition, it holds every person accountable for the decisions they have made.
Another benefit RAPID Decision Making provides is its effectiveness and its efficiency. Since the decision making process involves limited people, it makes the process less likely to cause confusion and it saves time. By assigning specific responsibilities, it sets boundaries for each individual. Involving the right people increases the chance for better decision making, which helps achieve greater goals.
Lastly, using the RAPID Decision Making model reflects in both direct and subsequent decision. For example, when a small bakery chooses which brand of ingredients, the chosen brand will influence products made by that bakery. They have a direct hand in quality, freshness, or both.
Overall, the RAPID Decision Making Model should be applied in all areas of a small business. Decision making allows for changes to be made and the decision will be reflected in the business’ success. When a small business makes the right decisions, they pave the way for the future growth in the company. Using the RAPID Decision Making Model, shares the decision making power which opens up various perspectives helps in the overall outcome in making a decision.
All in all, the RAPID Decision Making Model should be applied throughout all sectors of the small business. As stressed earlier, decision making implements change and that decision will reflect the outcome of the business’ success. A small business must make the right decisions that would pave the way for the betterment of the company. Using the RAPID Decision Making Model, shall entrust the decision making power to different people which would open up various perspective and actual facts when making a decision.
