Company cultures and top leaders may unconsciously penalize subordinates who bring them bad news. This dangerous judgment error is called the MUM effect and it creates an atmosphere of secrecy that leads successful companies to stagnate and deteriorate. That’s the key take-away message of this episode of the Wise Decision Maker Show, which describes the danger of missing vital information due to the MUM Effect.
In order to prevent conflicts across age divides, organizations need to avoid dangerous judgment errors. That’s the key take-away message of this episode of the Wise Decision Maker Show.
In order to avoid decision disasters and defeat cognitive biases, it’s important to develop the 12 critical skills that cognitive neuroscience and behavioral economics show are needed for mental fitness.
Changing jobs or industries during this pandemic is not only possible, but might be critically important for achieving your career potential. Use the best decision-making steps so that you and your career can thrive, not just survive.
To prevent failure in implementing decisions, or in managing projects or processes, imagine that the implementation completely failed. Then, brainstorm all plausible reasons for failure, and generate solutions to these potential problems. Integrate these solutions into your project or process.
You can survive and thrive in the new abnormal of the pandemic by identifying and addressing fundamental needs of your household: safety, connection, and self-esteem.
Your company can survive and thrive in the new abnormal of the pandemic by protecting against mental blindspots such as the normalcy bias.
To address unconscious bias requires understanding what it is and where and how you might fall into it. Just as importantly, it requires developing a series of healthy mental habits that prevent you from falling for unconscious bias
Misinformation kills. Failing to vet thoroughly the quality of information from your favorite news source can lead you and those you care about to suffer health disasters, whether regarding COVID-19 or other health risks.
When it comes to shopping, we overestimate our abilities to keep our impulses in check. You can avoid poor shopping choices by developing a host of shopping mental skills.
The people close to you influence your spending choices more than you think. To make wiser shopping decisions, be aware of how your choices are influenced and commit to only purchasing things for their practical value.
More buying choices lead to less happiness. To make better shopping decisions, satisfice and limit your options. Look for products that are good enough.
Form lasting connections to stakeholders and help them feel understood by using the three social intelligence methods of empathetic listening, echoing and mirroring, and building rapport.
Startup founders can defeat mental health challenges and avoid burnout by paying attention to their mental health, seeking help, and standing up to pressure from major investors and Board members
We intuitively overestimate how well others read us and how well we read others, a dangerous judgment error called illusion of transparency. This mental blindspot leads to disastrous results in negotiations and communications.
Because we usually feel that everything is going to go according to plan, we don’t pay nearly enough attention to potential problems and fail to account for them in our plans. This problem is called planning fallacy.
Maximize the value that pessimists and optimists bring to your enterprise by helping them work together well. Optimists should generate half-baked ideas and give them to the pessimists, who would select the most viable notions and finish baking them into full-fledged plans.
To prevent disasters in transitioning to working from home, imagine that your transition completely failed. Then, brainstorm all plausible reasons for failure, and generate solutions to these potential problems. Do the same to maximize success.
Using the three social intelligence methods during a stakeholder meeting will help you learn the truth about your stakeholders’ needs, which will empower you to solve their problems and foster stronger relationships with them.
Your relationships will be undermined or even destroyed by the COVID-19 coronavirus pandemic, unless you take proactive steps right now to save them by treating our current conditions as the new normal.
Asking the 8 Powerful Questions during a pre-engagement stakeholder assessment will lead to better engagement and stronger relationships with your stakeholders.
Official guidelines for COVID-19 coronavirus pandemic preparation assume a wildly optimistic scenario due to dangerous judgment errors known as cognitive biases. You need to instead prepare for a realistic pessimistic scenario.
If you care about your bottom line, hire women over men. Due to gender discrimination, women had to work harder to get the same career position as men, and you will on average get a better worker if you hire a woman.
When it comes to shopping, men tend to take more risks, while women prefer to take their time to get the best possible deal. Both genders are prone to mistakes. However, you can train your mind to make the wisest shopping decisions this Valentine’s Day.
Our feelings drive us to avoid short-term losses, which often results in us failing to take worthwhile risks and actually losing more in the long term. This problem comes from a dangerous judgment error called loss aversion.
Protect yourself from decision disasters by getting our free Wise Decision Maker Course, which includes 8 weekly video-based modules. As a bonus, you'll receive a free copy of our Assessment on Dangerous Judgment Errors in the Workplace when you sign up.
