The Tax of Slowness

The compass of evaluation and oversight in institutions, whether public or private, typically points toward measuring direct waste, which usually takes the form of unutilized budgets, high operating expenses, and projects that have exceeded their schedules. However, these assessments overlook a less visible, yet perhaps more impactful, drain on the books: the hidden cost of slowness and the resulting loss of irreplaceable opportunities. Financial waste can be tracked in a specific line item and addressed through restructuring or cost-cutting, whereas missed opportunities do not appear in official accounts. When a technology company delays launching a product, an investor hesitates to enter a new market, or a development project waits for a long chain of approvals, the loss extends beyond the days that have passed; it may mean a market already captured by a competitor, an investment that went elsewhere, or a public service whose developmental impact is delayed. This is not merely an administrative observation, but a reality supported by data. A recent survey by a consulting firm, covering more than 1,200 executives and managers in major American companies, revealed that 73% estimate the cost of slow decision-making and implementation at up to 5% of their institutions’ annual revenues. Meanwhile, other surveys conclude that less than half of institutions make decisions quickly. Notably, institutions and entities that successfully combine speed with quality have doubled their chances of achieving returns of 20% or more. In the technology sector specifically, these costs multiply, as what is viable today may become commonplace tomorrow, and the window to launch a service, attract investment, or adopt new technology does not remain open indefinitely. Here, the physical principle cited by Dr. Amina Farhan, Director General of the Kuwait Foundation for the Advancement of Sciences, becomes evident and remains etched in our minds: “If you want to keep your place, you must double your speed.” An institution that appears stable may actually be declining relatively, because the world around it is moving at a record pace. The problem is that some work environments treat decision-making as a risk, while treating inaction as a cost-free option. A bold decision may be questioned regarding its outcome, but delay can hide behind another committee, an additional study, or a new request for data. Thus, the cost of action becomes visible, while the cost of refraining from it remains ownerless, so to speak. This does not, by nature, call for haste or bypassing governance; true institutional speed lies in the ability to distinguish between the strategic need for study and the transformation of the study itself into a means of procrastination. A good decision is not improvised; it is evidence-based, passes through a clear procedural system, and is coupled with a strict deadline for resolution. If we are truly serious about building a knowledge-based economy, we must not limit ourselves to searching for direct financial waste, but must hold the same strict accountability for wasted time, missed opportunities, and decisions that remained pending until they lost their value. Slowness is not necessarily prudence, and often, the most costly decision an institution makes is the one it chooses not to make. That is the tax of slowness! Dr. Dhafer Adel Al-Huwail