Nemawashi

…any endeavor.

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The Japanese believe in what they call "bottom round" management. This concept, sometimes called consent management or committee management, is an innate part of Japanese culture. It involves a slow decision-making process that attempts to reach a true consent rather than a consensus or compromise. While the decision-making process is slow the implementation process is fast.

From Jeffrey Liker's The Toyota Way:

Principle 13—Make decisions slowly by consensus, thoroughly considering all options; implement decisions rapidly (nemawashi).

• Do not pick a single direction and go down that one path until you have thoroughly considered alternatives. When you have picked, move quickly and continuosly down the path.
• nemawashi is the process of discussing problems and potential solutions with all of those affected, to collect their ideas and get agreement on a path forward. This consensus process, though time-consuming, helps broaden the search for solutions, and once a decision is made, the stage is set for rapid implementation.

real options capture the essence of the situation in which to make the decision.

Therefore:

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Sources

• The Toyota Way, Jeffrey Liker
• http://www.ame.org/sites/default/files/qrl_docs/Nemawashi.pdf
• http://en.wikipedia.org/wiki/Nemawashi

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