Making Great Decisions

Making Great Decisions Mckinsey Quarterly, April 2013 Summary: The further we move up the ladder the harder it is to be told or to say “my judgment is fallible”. We all have dominate biases: Inertia (status quo), confirmation (justification based on experience/desire), and social (group think, popularity). Awareness to our biases does not make us immune to them. Most decisions are based on “politics, persuasion, and PowerPoint” and none of these “three Ps” are fully trustworthy. The three biggest things Read More …

POV: Don’t Trust Your Gut.

Point-of-View: Don’t Trust Your Gut Harvard Business Review (HBR) May 2003 Summary: Intuition refers to the brain’s process of interpreting and reaching conclusions without resorting to conscious thought. 45% of executives rely more on instinct than facts and figures to run their businesses. We give disproportionate weight to information confirming, not challenging our assumptions, preferring conclusions justifying, not upending, the status quo. Information first received about a situation distorts our interpretation of subsequent (updated) data received about the same situation. Read More …