Tagged: decision making

8 Steps to Making Better Business Decisions

2 March, 2020

Contributed by Dr. Gleb Tsipursky, disaster avoidance expert, speaker and author.

History’s headlines are filled with examples of companies brought to their knees by bad decision making.

Decca Records famously turned down the Beatles. Motorola chose not to make smartphones. Elon Musk tweeted about taking Uber private and plummeted his company into chaos. Boeing’s leadership made some terrible decisions to cover up problems and rush production of the 737 Max. In all cases, their competitors took advantage of these failures to seize market share.

Good decision making is the essence of successful leadership, which is why the term “leader” is often equated to “decision-maker.” Tragically, too many leaders get it wrong. It’s not a matter of luck or timing.

Disasters happen when leaders go with their gut. The process of decision making is anything but intuitive, because our brain is wired to make terrible decisions in the modern professional environment. After all, our mind is adapted for the tribal savanna, not the globalized, digitalized business world of today.

Categories: BUSINESS GROWTH INNOVATION LEADERSHIP

Tags: business decisions cognitive bias decision making Dr. Gleb Tsipursky

The Emotional Intelligence of Effective Entrepreneurs

7 February, 2020

Contributed by Dr. Gleb Tsipursky.

Effective leaders know they need to be excellent at emotional intelligence (EI), the skill of knowing and managing our own and others’ emotions. After all, the only things we can control in life are our thoughts, feelings, and behaviors, and if we can manage those, we can lead our organizations effectively.

And if we know how our minds work, we can become more intentional about our patterns of thinking and emotions. We can evaluate reality more clearly, make better decisions and improve our ability to achieve goals, thus gaining greater agency, the quality of living intentionally.

Categories: LEADERSHIP

Tags: cognitive bias daniel kahneman decision decision making Disaster Avoidance Experts emotional intelligence Gleb Tsipursky leaders minds

How to Avoid Losing When Your Enterprise Grows

29 January, 2020

Contributed by Dr. Gleb Tsipursky.

One of the biggest dangers for entrepreneurs comes when their enterprise grows from being a small shop of 10 people to a midsized company of 100 or more. Entrepreneurial decision-making must change to account for this growth, but it often doesn’t due to our desire to avoid losses.

To illustrate why, let me tell you a story.

It’s your lucky day! You meet a kind stranger who offers you something for nothing. No tricks, really: You’re getting a free lunch.

She gives you US$45. Then she asks if you want to keep that money or give it to her in exchange for a coin flip. If it lands heads up, she’ll give you US$100. If it’s tails, you get nothing.

Which do you choose? Do you want US$45 cash in your pocket or are you willing to take a chance with the coin flip? Decide before reading further.

Categories: BUSINESS GROWTH OPERATIONS PEOPLE/STAFF STRATEGY

Tags: cognitive bias decision making Disaster Avoidance Experts Dr. Gleb Tsipursky

Should Entrepreneurs Trust Their Gut?

21 August, 2019

Written for EO by Dr. Gleb Tsipursky, disaster avoidance expert, speaker and author.

Decision-making research shows that many entrepreneurs don’t know when to rely on their gut instincts and when to follow reason. Here’s a pop quiz for you:

Let’s say you’re interviewing a new applicant for a job and the interview feels a little off. You can’t quite put your finger on it, but you’re uncomfortable talking with this person. She says all the right things, her resume is great, she seems like a perfect hire—except your gut tells you otherwise.

Should you go with your gut?

Categories: INNOVATION LEADERSHIP PEOPLE/STAFF

Tags: decision making Disaster Avoidance Experts Dr. Gleb Tsipursky gut instinct Never Go With Your Gut

Decision Outliers: Their Impact on Team and Organizational Effectiveness

2 November, 2011

By Beth Armknecht Miller, a leadership advisor, coach and Vistage chair for Executive Velocity, Inc.

In the book Outliers, by Malcolm Gladwell, many of the stories focus on those outliers who were successful, often due to circumstances and luck. What if you have an outlying preference that holds you back? A behavior that, if modified, moves you closer to the norm and makes you more effective? Let’s take a look at Decision Outliers. We’ve all experienced someone who either makes decisions too quickly or too slowly, and for some of us we actually may have one of these tendencies ourselves.

Categories: general

Tags: beth miller decision making management outlier tips

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Tagged: decision making