DECISIVE – HOW TO MAKE BETTER DECISIONS? 

All of us make certain basic mistakes when it comes to decision making

1. Avoid narrow framing

It can be a personal decision for “Should I breakup or not? Or Should I fire him or retain him?

Many of the times we miss the woods for the trees. When we look broader beyond the usual pressing day to day issues we see potential both in the situation or people.

One useful way is to look at the entire picture and learn to see both the positives and negatives in context. Adding an and could be useful.

For e.g.: Can I do this and that? In most situations and is a realistic possibility and probably the only way for personal and organizational growth.

2. Confirmation bias

Most managers seek validation of their pet hypothesis. Nothing wrong in it except that it may cost you in terms of your career and the organization lost opportunity and Capital.

One way to get out of the trap is “to seek an opposite view”. Many a times for critical organizational decisions the entire executive team just wants to roll out the decision without considering the trade offs and a broader impact. A good board helps to mitigate this risk

A good approach is to “explore all approaches and structurally mitigate the key risks”

3. Short term emotions

The good is the enemy of the best. Short term emotions derail us and only help to accentuate the gap between what we are and what we can be.

For eg: If you are undergoing a weight loss program, a short term emotion is to binge at least once a week. A good question is to ask is “What level of health do we want? And then take a decision.

Similarly in executives there is a strong urge to look at the short term. In that situation one can ask oneself “What would I ask my best friend to do? Or “What would my successors do?