deepstash
Beta
In 2020, Resolve To Ask "Why?"
Asking Why
Good Decision-makers always ask 'Why?' Asking 'Why?' several times gets to the core issue and provides us with insight into the real reason for solving a particular problem.
46 SAVES
SIMILAR ARTICLES & IDEAS:
7
Key Ideas
Missing the signs
There are many known psychological processes that cause individuals and organizations to miss the signs of a coming crisis – even when the signs are noticeable.
One reason is known as the...
Optimism bias
One possible reason for the "optimism bias" is found in the way we learn new information. People are quicker to change their beliefs when the information is better than expected, compared to information that is worse than expected.
- If people were told that lockdown would be eased in two weeks, people would quickly update their beliefs. But if experts said it would last longer, people would be less likely to update their beliefs. They will make statements like "I don't really believe it" or "things change."
- People may underestimate their personal risk of infection.
- People may fail to adopt precautions like social distancing.
Outcomes bias
Outcomes bias it thinking that because things turned out reasonably good, we can underestimate how close they came to going wrong.
In the past 20 years, there have been two outbreaks of diseases caused by the new viruses. The outbreak of 2003 killed 774 people before it was contained, and the Mers outbreak in 2012 has killed 858. The new virus has far surpassed both.
4
Key Ideas
The ABCDs of categorizing decisions
- Big-bet decisions: infrequent and high-risk - from major acquisitions to game-changing capital investments;
- Cross-cutting decisions: frequent and high-risk - think pricin...
Approaching big bet decisions
- Appoint an executive sponsor to work with a project lead to frame important decisions for senior leaders to weigh in on;
- Break things down (with decision meetings at each stage), and connect them up.
- Focuses on debating the solution (instead of endlessly elaborating the problem) and gather the right people.
- Move faster without losing commitment: get comfortable living with imperfect data and being clear about what “good enough” looks like.
Approaching cross-cutting decisions
- Identify decisions that involve a cross-cutting group of leaders, and work with the stakeholders of each to agree on what the main steps in the process entail.
- Work through a set of real-life scenarios to pressure-test the system in collaboration with the people who will be running the process.
- Limit the number of decision-making bodies, and clarify for each its mandate, standing membership, roles etc.
- Create shared objectives, metrics, and collaboration targets.
3
Key Ideas
Worrying Constantly turns to Depression
We are generally advised to do self-reflection and examine our lives, but we may not be doing it right.
Rumination, the process of recurrent worrying or brooding, is the default process of...
Third-Person Thinking
Third-person thinking, or talking to yourself about the problem as an outsider, or as a witness, can temporarily improve decision making, according to numerous studies.
New-Found Wisdom
Talking to yourself in the third person brings clarity, insight and greater emotional regulation about the current situation or problem.
The detachment that being in the third-person offers, removes the inherent emotional bias that one has, but is unaware of.