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The "World's Worst Business Decisions"Questionmark, the leading provider of enterprise-grade assessment software, has released a report on why decisions matter. When it comes to decisions we make at work, most of us can point to the occasional mistake we would rather forget. However, as a report released today by Questionmark shows, some workplace mistakes are destined to go down in history. The report highlights seven ill-informed business decisions. Some, such as Excite's decision not to buy 'overpriced' start-up Google (News - Alert) for just $750,000, were caused by a failure to spot the evolving trends of their sector. Others, such as the infamous 1999 Mars probe crash, were triggered by basic and avoidable mistakes. The seven ill-judged business decisions
"Decisions matter. So, the decision-making process should be informed and defensible. Our report explores how organizations that are serious about getting the best out of their people and process need to be serious about assessment. That way employers and employees can learn, adapt, and improve the decisions that matter the most. "Read our report to understand these ill-fated decisions and the more common mistakes organizations make." The cost of poor decisions Poor decision making comes at a tangible cost. Not only is performance weaker but the risks of compliance failure are higher. Regulators continue to show their teeth with considerable fines levied on financial services ($300bn since 2009), US utility businesses ($20bn since 2000) and US pharmaceutical companies ($38bn since 2000). The report highlights that staff assessments make a real and lasting difference to an organization's performance. Studies show that after introducing assessments, 58% of companies see an increase in employee retention, 58% in productivity and 60% in customer satisfaction. For more information on the impact of good decision making, the consequences of bad decisions and how staff assessments can drive business performance, download the full report. About Questionmark Questionmark provides a secure enterprise-grade assessment platform and professional services to leading organizations around the world, delivered with care and unequalled expertise. Its full-service online assessment tool and professional services help customers to improve their performance and meet their compliance requirements. Questionmark enables organizations to unlock their potential by delivering assessments which are valid, reliable, fair and defensible. Questionmark offers secure powerful integration with other LMS, LRS and proctoring services making it easy to bring everything together in one place. Questionmark's cloud-based assessment management platform offer rapid deployment, scalability for high-volume test delivery, 24/7 support, and the peace-of-mind of secure, audited U.S. and European-based data centers. View source version on businesswire.com: https://www.businesswire.com/news/home/20200220005718/en/ |