Only 3% of the communication we do is verbal. The other 97% is non-verbal. I believe that is the reason why people are more convinced and are willing to trust businesses more when they see lists and images of the projects that they have completed and testimonials from previous clients. Like you said, reports are fine. But they are mostly just made of theories. Just as what my mentor told me: "if you want to get a job done, give it to a busy person. Never to a person that's not doing anything."
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I also tend to adhere to the decision-making style espoused herein. I almost never produce reports, and when I do, it is only when investors and/or shareholders demand them – an occurrence which is rare but not unheard of. Being decisive has always come naturally to me, and I encourage my employees to act on their better judgment anytime the states are not so high that to be wrong would constitute a major competitive disadvantage for the intermediate or long-term, and of course when the decision involves large expenses (I prefer to make those calls myself).

While my business style is definitely to know your role and act accordingly, perhaps the better example to illustrate the concept had nothing to do with business, but rather a Pop Warner football team (American) I once coached consisting of 10-12 year old boys. I showed up at our first game with a playbook consisting of about 40 different offensive plays, four defensive alignments which each had 3-5 different rush/coverage packages. Upon arrival, I was informed that coaches could stand in the huddle with the kids and call the plays prior to the snap. Upon learning this, I immediately threw the playbook in the garbage can in favor of making up plays as we went along. Depending upon what the other team's scheme was coupled with the caliber of their athletes, I literally made up plays and defensive alignments on-the-spot and without any written copy to reference.

My team finished the season 10-2, and won the league championship. We defeated both of the teams that had beaten us during the regular season in the playoffs and championship game, respectively.

Anyway, while I'm still a very new reader, from everything I've seen so far I think it's a safe bet that this site is going on my list of sites I frequent. Keep up the great work!
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