How to broaden your thinking and make better decisions

Read the full article at: hbr.org

“As a rule of thumb, it’s good to anticipate three possible futures, establish three key objectives, and generate three viable options for each decision scenario.”

Yikes!  Think about the decisions we have made using “System 1 thinking – automatic judgments that stem from associations stored in memory – instead of logically working through the information that’s available.”  Or even “System 2 thinking – essentially, deliberate reasoning gone awry.”  (Been there; done both.)

Making decisions is difficult.  We can’t escape our biases – we can only view the world through our own eyes.  And we can’t escape the demands of our so-much-to-do-and-so-little-time world.  So, what do we do?  “We cope by relying even more heavily on intuitive, System 1 judgments and less on careful reasoning. Decision making becomes faster and simpler, but quality often suffers.”

Not good.  Who wants to make poor quality decisions?

This article can help us avoid them.  It offers ways for us to practice “careful reasoning” and gives examples of how these ways are used.  The advice is clear and concrete enough to be immediately (but deliberately) included in our decision-making processes.

System 1 and 2 thinking may work for ordering lunch but not for hiring a new employee or deciding whether to expand into a new market.

Contact us and we can help you improve the approach you take for making business decisions.