Drive Innovation with Better Decision-Making.

Despite their embrace of agile methods, many firms striving to innovate are struggling to produce breakthrough ideas. A key culprit, according to the authors, is an outdated, inefficient approach to decision-making. Today’s discovery-driven innovation processes involve an unprecedented number of choices, from which ideas to pursue to countless decisions about how to conduct experiments, what data to collect, and so on. But these choices are of- ten made too slowly and informed by obsolete information and narrow perspectives. To align their decision-making processes with agile approaches, businesses need to include diverse (customer, local, data-informed, and outside) points of view; clarify decision rights; match the cadence of decisions to the pace of learning; and encourage candid conflict in service of a better experience for the end customer. Only then will all that rapid experimentation pay off. The article suggests best practices for these interventions, drawing on the story of the transformation at Pfizer’s Global Clinical Supply, which would go on to play a critical role supporting the rapid development of the pharma giant’s Covid vaccine. INSET: How to Avoid Common Traps. [ABSTRACT FROM AUTHOR]