Potentially a ‘unique approach to corporate governance and stakeholder accountability’, the product should boost management efficiency by allowing individual managers to focus on day-to-day business issues. By simply ‘making a decision’, management is able to get on with running the business, condfident in the knowledge that CODA Collaborative Decision Justification will produce evidence from company data that ‘justifies’ the original decision.
Rapid decision making among managers is a key component.
‘I no longer have to research possible business options, wait for staff to make recommendations, consult my directors or otherwise hang around unnecessarily,’ said Gordon Way, managing director of Way Forward and a beta-testing partner for the product.
Long-term CODA business partner Way added: ‘Collaborative Decision Justification is a fantastic tool for helping autocratic managers stay efficient. It dispenses with many of the more tedious theories of management practice along the way, and means I can make a decision and everyone will simply agree. Who cares if I’m wrong if no one can find a flaw in the argument for why I’ve done it?’
Freedom to make any business decision has often been a hot topic among academics. Professor Chronotis of St Chad’s College Cambridge said that decision justification was ‘not a new topic’ for researchers.
‘One of my students wrote such a system years ago that has been used by the Pentagon for some time,’ said Chronotis. He added that applying the principle to corporate governance was a ‘unique’ way of ensuring that executive management can fulfil their obligations to stakeholders and regulators, or at least come up with a ‘totally convincing’ argument about why they had not.
‘Our development team recognised the need for this product during some of the highly publicised rows between shareholders and boards of directors, mostly over remuneration and compensation, but also over certain appointments of family members and pets as executive managers,’ said Roche.
Launch date for the product is today.
For more information on CODA Collaborative Decision Justification go to www.coda.com/dj.
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