In a week, an average manager makes more than 70,000 decisions. Poor decisions, whether every day or strategic in nature, can cause irreversible damage to an organisation. Behavioural Economics and Management Sciences points to two major hurdles that negatively impact decision-making.
- Cognitive Biases
- Lack of Systematic Process for Decision-making
Cognitive biases are an evolutionary tool designed to aid us to navigate our everyday lives but left unchecked they can lead us to poor judgement. Being aware of the most common biases that affect decision making is the first step for individual executives, but for teams, it’s essential to use a well-defined process for quality decision-making.
Beyond the individual executives and senior management, scaling decision-making best practices to the whole organisation requires more than a checklist. Adhering to tried and tested principles can help you elevate the quality of decision-making throughout your organisation.
I’ve explored these topics in detail in the keynote below. You can go through the complete deck or jump straight to the part you’re most interested in using the Quick Links on the second slide.
I recommend viewing the presentation (Below) in the Presentation Mode (Fullscreen) for an optimal experience.
Download the presentation as PDF.