Tag: wise decision makers

In order to prevent conflicts across age divides, organizations need to avoid dangerous judgment errors. That's the key take-away message of this episode of the Wise Decision Maker Show.

To prevent disasters in transitioning to working from home, imagine that your transition completely failed. Then, brainstorm all plausible reasons for failure, and generate solutions to these potential problems. Do the same to maximize success.

Official guidelines for COVID-19 coronavirus pandemic preparation assume a wildly optimistic scenario due to dangerous judgment errors known as cognitive biases. You need to instead prepare for a realistic pessimistic scenario.

If you care about your bottom line, hire women over men. Due to gender discrimination, women had to work harder to get the same career position as men, and you will on average get a better worker if you hire a woman.

When it comes to shopping, men tend to take more risks, while women prefer to take their time to get the best possible deal. Both genders are prone to mistakes. However, you can train your mind to make the wisest shopping decisions this Valentine’s Day.

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.

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

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.