Learn more about habits with this collection
Understanding the importance of decision-making
Identifying biases that affect decision-making
Analyzing the potential outcomes of a decision
Organizations today are very complex, and even the best leaders do not have enough technical depth to fully understand multifaceted issues. But when decision-makers rely on others’ knowledge and expertise without any perspective of their own, they have a difficult time integrating that information to make effective decisions.
And when they lack even basic knowledge and expertise, they have no way to tell if a decision is brilliant or terrible.
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It is discouraging to consistently consider the possibility of negative events in our lives, so most people assume the worst will not happen.
Unfortunately, bad things happen fairly often. People die, get divorced, and have accidents. Markets crash, house prices go down, and friends ar...
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347 reads
Some people make poor decisions because they’re using the same old data or processes they always have. Such people get used to approaches that worked in the past and tend not to look for approaches that will work better. Better the devil they know.
But, too often, when...
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281 reads
This shows up as a failure to check facts, take the initiative, confirm assumptions, or gather additional input.
Basically, such people are perceived to be sloppy in their work and unwilling to put themselves out. They rely on past experience and expected results simply to be an extrap...
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405 reads
When faced with a complex decision that will be based on constantly changing data, it’s easy to continue to study the data, ask for one more report, or perform yet one more analysis before a decision gets made.
When the reports and the analysis take much longer than expected, poor...
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296 reads
Some good decisions become bad decisions because people don’t understand – or even know about — them.
Communicating a decision, its rationale and its implications is critical to the successful implementation of a decision.
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Bad decisions sometimes stem from a failure to connect the problem to the overall strategy.
In the absence of a clear strategy that provides context, many solutions appear to make sense. When tightly linked to a clear strategy, better solutions quickly begin to rise to the...
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286 reads
Some decisions are never made because one person is waiting for another, who in turn is waiting for someone else’s decision or input.
Effective decision-makers find a way to act independently when necessary.
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Research on effective decision-making recognizes that involving others with relevant knowledge, experience, and expertise improves the quality of the decision.
Sometimes people lack the necessary networking skills to access the right information. Other times, people do...
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247 reads
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The rise of social media means that experts willing to share their knowledge are more accessible to the public. One might think that communication between experts and decision-makers should be very good. But this is not the case.
Outlets are flooded with self-appoi...
In some situations, people may underestimate others who lack conventional credentials or formal qualifications, even if they have clear skills and expertise.
Knowing which questions fall into which category requires expertise. Politicians and executives might be experts in the area of decision-making, but they are seldom experts in the areas where they make decisions.
When there are decisions that require an expert perspective,...
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