Why we make bad decisions - Deepstash
Why we make bad decisions

Why we make bad decisions

  • We ignore the warning signs - feeling tired, emotional, distracted, in a rush...working in the "hurry up" culture.
  • We focus on solving the wrong problem or fail to look at it in a broader sense.
  • When we work on second-hand information loaded with biases, edits, and interpretations.
  • When we don't learn from past mistakes and are more busy protecting our ego. True experience isn't calculated in years, but in how much your learnt & grew.
  • We choose to make decisions that are defendable over those that we know are a better choice.

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MORE IDEAS FROM Avoiding Bad Decisions

To make better decisions...
  1. Avoid unintentionally doing something stupid. Never make important decisions when you’re tired, emotional, distracted, or in a rush.
  2. Make sure you're solving the right problem. Never let anyone else define the biggest problem to be solved.
  3. To get unbiased information or information not modified by your source's interpretation, seek it from someone as close to the original source as possible
  4. Learn from your mistakes. Do you have 5 years of experience or 1 year of experience repeated 5 times?
  5. Act as you would want an employee to act if you owned the company.

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Limiting the % of luck for success
  • Know the warning signs.
  • Have a set of rules for your decision-making process.
  • Remember, sometimes success is just about avoiding making bad decisions.

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RELATED IDEA

Making Bad Decisions: Being Intentionally Stupid

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 never make important decisions when one is emotionally weak, tired, distracted, or in a hurry.

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The quality of our decisions

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 were as frequent as good decisions.

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The importance of marking a book

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 but cannot express it usually does not know what he thinks.

Third, writing your reactions down helps you to remember the thoughts of the author.

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