Bet on process rather than luck or inspiration.
Read the full article at: hbr.org
Whether we are negotiating a multi-million-dollar merger or trying to make a simple upgrade to a payroll system, we can watch out for these high-stake traps and carefully review our decision processes to avoid falling in.
Michael Mankins’ years-long study of “decision-making at the top” has led him to believe that luck goes just so far and “good decisions…nearly always result from robust decision processes. Similarly, decisions that go wrong…nearly always stem from procedural or organizational failures.”
Mankins concludes that “just five mistakes account for the vast majority of poor decisions.” His list includes mistakes that seem deceptively obvious, like:
- “unrealistic search for silver-bullet solutions” or
- “too many people involved” or
- “underestimating the challenges involved in execution and change management.”
As obvious as they may seem, the real-world examples he uses to illustrate each mistake help us understand just how easy it is to fall into these traps. After all, these mistakes were made by savvy, successful, highly experienced people who thought they were doing the right thing.
Contact us and we can help you understand and manage the changes you are making for your company.