It will be perfect. Because not only will the hall itself be a bad decision, but anyone who ever attempts to visit it will clearly be making a bad decision as well. Inside the hall, we will have exhibits for all of the worst decisions ever made.
Our emotions are obsessed with the present moment because it’s difficult to look past our immediate fears and anxieties. And this prevents good decision-making.
Most of us are afraid of messing thing up. But we rarely ask, “Would I regret that failure?” If the answer is “no,” then that is absolutely a risk you should pursue.
Sometimes, the right decision becomes crystal clear when put into these terms.
It's the best and worst of times for decision makers. Swelling stockpiles of data, advanced analytics, and intelligent algorithms are providing organizations with powerful new inputs and methods for making all manner of decisions. Corporate leaders also are much more aware today than they were 20 years ago of the cognitive biases-anchoring, loss aversion, confirmation bias, and many more-that undermine decision making without our knowing it.
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.