Fighter pilots are trained to make immediate decisions utilizing a recurring cycle of Observe, Orient, Decide and Act. How quickly they can do this often means the difference between life and death… in business it can make the difference between success and failure.
The OODA model was developed by Col. John Boyd, U.S. Air Force fighter pilot ace, to describe the process needed to win at war. This model matured as he won aerial dogfights in Korea and Viet Nam and later used it to describe how to gain a competitive advantage in any situation. Recently, the OODA loop has begun to be applied to business and product development as a way to describe their decision-making cycles. In these situations, the loop often gets stuck at the D. The OODA loop is a succinct representation of the natural decision cycle seen in every context: war, business, product development, or life.”
Financial Database Services uses the OODA loop in our daily business. We start every business day with a 15 minute OODA meeting where we Observe what has happened in our business in the last 24 hours, Orient the team to facts, risks and opportunities.
With this information our team makes Decisions and Act with confidence. As we repeat this process on a daily basis, we are better able to gauge results and refine our decision making process.
If you would like to know:
How your firm can use the OODA loop to improve your team’s organizations success;
Or how FDS can support you in the Observation of your workflow processes, and solution Orientation for improving operations;
Or how FDS can help you Decide and ACT on making broker dealer technology decisions for 2015