Tag: Leadership Development

Effective strategic planning involves: 1) Identifying potential threats and opportunities; 2) Planning how to deal with them; 3) Reserving sufficient resources to address threats and opportunities; 4) Making your plans resilient and flexible.

The choice that feels most comfortable to your gut is often the worst decision for your bottom line. To be a truly wise decision maker, you have to adopt counterintuitive, uncomfortable, but highly profitable techniques to avoid business disasters by making the best decisions.

To get colleagues in denial to believe the truth, use EGRIP: 1) discover their emotions; 2) then their goals; 3) build up rapport; 4) provide info to change their mind; 5) offer positive reinforcement for them updating their beliefs.

The choice that feels most comfortable to your gut is often the worst decision for your bottom line. To be a truly wise decision maker, you have to adopt counterintuitive, uncomfortable, but highly profitable techniques to avoid business disasters by making the best decisions. That's the key take-away message of this episode of the Wise Decision Maker Show, which describes the Wise Decision Maker Movement Manifesto.

In order to make the best decisions, follow these decision-making process steps: 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

Instead, the key difference is the astronomically quick growth of social media as the source from which people get their news, and the prevalence of misinformation on social media, since tech companies aren’t doing much to filter out fake news.

Cognitive biases lead to typical business strategic analyses such as SWOT giving a false sense of comfort and security. The result? Appalling oversights that ruin profitable businesses and bring down high-flying careers.

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.