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Analysis doesn't always lead to good decisions
When it comes to decisions, organizations rely on gathering data and analyzing the decision. People believe that analysis reduces biases, but most business decisions made this way turned out to be poor decisions.
Research shows that good analysis from managers who have good judgment won't necessarily produce good decisions.
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Analysis alone does not yield good decisions as the people who put it together have a subconscious bias and interest in a particular outcome.
Instead, a disciplined decision process involves guarding against decision-making biases by exploring and discussing major uncertainties or ...
We all make decisions. However, few of us realize that the process we use to make decisions is more important than the analysis we put into the decision.
A McKinsey Quarterly survey pointed out that 60 percent of executives thought that bad decisions w...
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Our various cognitive biases make us behave irrationally, even though we believe we are acting logically. If we are tired, in a rush, or are distracted we tend to rush towards a bad decision. Other factors include working with an authority figure or in a group.
The rule to follow is to nev...
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- Avoid unintentionally doing something stupid. Never make important decisions when you’re tired, emotional, distracted, or in a rush.
- Make sure you're solving the right problem. Never let anyone else define the biggest problem to be solved.
- To...
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Why is marking a book indispensable to reading it?
First, it keeps you awake, not merely conscious, but wide awake.
Second, reading, if it is active, is thinking, and thinking tends to express itself in words, spoken or written. The person who says he knows what he thinks bu...
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