From Quartz, April 13, 2017, Author Oliver Staley
Amazon CEO Jeff Bezos wants his $430 billion publicly traded company to behave with the urgency of the startup it once was.
To make sure he acts quickly, he follows a set of guidelines for “high-velocity decision-making” he laid out in his annual letter to shareholders. He urges his employees to follow them, and they contain sound principles for any competitive organization:
Don’t wait for all the information before acting
Most decisions should be made with only about 70% of the information you need; if you wait for 90% or more, you’re moving too slowly. A well-managed company can adjust if necessary. “If you’re good at course correcting, being wrong may be less costly than you think, whereas being slow is going to be expensive for sure,” Bezos said.