Because we usually feel that everything is going to go according to plan, we don’t pay nearly enough attention to potential problems and fail to account for them in our plans. This problem stems from a dangerous judgment error called planning fallacy.
Avoiding Disastrous Decisions involves: 1) Deciding the decision criteria 2) Weighing importance of criteria 3) Grading your options using the criteria 4) Checking with your head and gut 5) Sticking to your choice
We intuitively overestimate how well others read us and how well we read others in negotiations, a dangerous judgment error called illusion of transparency. This mental blindspot leads to disastrous results in negotiations and other important communications.
Want to avoid the dangerous judgment errors that scholars in cognitive neuroscience and behavioral economics call cognitive biases in your work? This videocast and podcast will help you defeat all types of cognitive bias!
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Consumers mostly make their shopping choices with their gut. As a result, they make many poor decisions. One of these decisions is to rely increasingly on online user reviews compared to recommendations from friends, even though user reviews are often misleading.
8-step decision-making process: 1) Identify need for decision; 2) Get relevant info; 3) Decide goals; 4) Develop criteria; 5) Generate a few viable options; 6) Weigh options; 7) Implement decision; 8) Revise implementation and decision as needed.
Effective leadership decision making on critical decisions involves: 1) Deciding the decision criteria; 2) Weighing importance of criteria; 3) Grading your options using the criteria; 4) Checking with your head and gut; 5) Sticking to your choice.
To address unconscious cognitive biases in your workplace, you need to evaluate thoroughly their impact on your own professional activities, as well as more broadly in your team and organization, and make and implement a plan to address the problem.
To prevent a project or process disaster, imagine that it completely failed. Then, brainstorm all plausible reasons for failure, and generate solutions to these potential problems. Integrate these solutions into your project or process. To maximize project or process success, envision that it succeeded spectacularly. Brainstorm likely reasons for such success, and generate strategies that would lead to such success. Integrate these strategies into your project or process.