Ask James Caan: Let decision strategy benefit your business and boost morale

Collaboration is a term often overlooked and understated in business, but it can be immensely beneficial when applied correctly. Any business needs a clearly defined management structure, and not just for the purposes of authority. Having a clear structure tells employees what career paths are available to them. Progression is a major incentive for anybody and if they don’t know what they can achieve, and where, it may have a demotivating effect.

When it comes to decision-making, however, I always advise businesses to take a collaborative approach. Although there may be one ultimate decision-maker, getting other opinions is of great benefit. It opens your eyes and ears to fresh ideas, and approaches and stops the business from becoming stifled and one-dimensional.

Depending on the type of business you run, the working environment also plays a big part. I have always been a big advocate of an open-plan office. This naturally leads to people bouncing ideas off each other, and also improves their personal skill set.

Remember that people are the greatest asset of your business, and take advantage of this. Locally made decisions enable your business to grow , and also improve employee morale — and you will reap the benefits of this in the long term.