Ericsson’s CEO has a good point

Börje Ekholm, Ericsson President & CEO in a recent CEO letter:
“Some simple mantra’s I try and work to include – accepting that we take decisions on
less than perfect information. 80% is good enough. The priority is to get the job started.

Before a decision is taken, it should be debated and agreed/disagreed based on facts. It
is not about a consensus decision. But it needs to be vetted properly. When taken, it is         all about execution. If there is a mistake, correct it and move on.”

Comparing to Jeff Bezos, Börje is rather conservative but at least he understands a point.

Try, Learn, Modify
“Rather than proscribe activities and try to figure out where the future is, you create the context for individuals to try things, learn from those things and quickly modify and fix problems, moving forward at a different pace,” Red Hat CEO Jim Whitehurst said.

Jeff Bezos explains risky business decisions
“Most decisions should probably be made with somewhere around 70% of the information you wish you had,” Amazon CEO Jeff Bezos said in his annual letter to shareholders.

“Instead of focusing on avoiding mistakes by making perfect decisions, become a master of quickly recognizing and correcting bad decisions. 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.”

Oglasi
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