Regrets over decisions taken and barriers in the way of decision making are frustrating UK executives, according to a survey by the Chartered Management Institute.

The study found that 40% of senior managers admit to taking decisions against their better judgement. It found that one in five blamed undue pressure from colleagues and 15% suggested they lack the time to consider problems carefully.  A further 14% focused on bureaucracy and 13% cited a lack of resources.

It found that 90% of senior managers are confident about their own decision-making abilities.

Most recognise the need to consult others, with 78% consulting their team and 48% talking to stakeholders, only 21% admitted to relying on gut feelings.

Jo Causon, director of marketing and corporate affairs at the Institute, says: “Good managers and leaders need to know when it is appropriate to think and when it is better to act. They may not be right every time, and when they do get it wrong, it is far better to admit mistakes and move on, than be frozen by a fear of failure.”