In business, decision making is crucial. Rapid decision making is often beneficial because every decision acts as an experiment. The more experiments you conduct, the more you learn and the further your business progresses. Some experiments will succeed, while others will fail. However, the faster you go, the more you learn. It's important to balance speed with accuracy to avoid setbacks.
For reversible decisions, it's beneficial to empower lower-level or junior staff to make decisions. This allows the organization to move quickly without unnecessary escalation. However, they should still consult with managers and other employees as needed.
Understanding the difference between irreversible and reversible decisions helps in knowing when to move quickly and when to be deliberate. This balance is key to driving innovation and productivity in your business or professional work.