The one word that makes a good manager — decisiveness.    Lee Iacocca

Procrastination is one of the most common and deadliest of diseases and its toll on success and happiness is heavy.     Wayne Gretzky

Jack Welch, the highly successful former head of General Electric, was known as a man who took initiative, acted decisively, and was not averse to risk. Under his direction, GE rapidly acquired other businesses and dramatically expanded their portfolio and scope of business. As a result of his dynamic leadership, GE grew exponentially during his tenure. After his retirement, Welch was asked if he were to start over, what would he do differently. His answer? Make decisions quicker. A man whose reputation for decisive, bold action felt that he still should have made decisions more rapidly.

Automotive icon Lee Iacocca believes that even a correct decision is wrong if it’s made too late. He felt that one of the most frequent mistakes managers make is attempting to obtain 100% of the information before making a decision. Iacocca instructed, “If we wait until we’ve satisfied all the uncertainties, it may be too late.”

While it is essential to gather the necessary information to make an important decision, waiting too long can make it too late.