wise decision making Archives | Disaster Avoidance Experts

Dangerous leadership development issues arise when experienced leaders forget about the many new skills needed for recently-promoted leaders to succeed. This problem stems from a mental blindspot known as the curse of knowledge. That’s the key take-away message of this episode of the Wise Decision Maker Show, which describes how to prevent leadership development failures.

To get colleagues in denial to believe the truth, use EGRIP: 1) discover their emotions; 2) then their goals; 3) build up rapport; 4) provide info to change their mind; 5) offer positive reinforcement for them updating their beliefs. That’s the key take-away message of this episode of the Wise Decision Maker Show, which describes how to deal with colleagues in denial.

Cognitive biases lead to typical business strategic analyses such as SWOT giving a false sense of comfort and security. This results in appalling oversights that ruin profitable businesses and bring down high-flying careers. That’s the key take-away message of this episode of the Wise Decision Maker Show, which describes why your SWOT analysis is broken, and how you can fix it.

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.

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.

Effective strategic planning involves: 1) Identifying potential threats and opportunities; 2) Planning how to deal with them; 3) Reserving sufficient resources to address threats and opportunities; 4) Making your plans resilient and flexible.

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.

Your company can survive and thrive in the new abnormal of the pandemic by protecting against mental blindspots such as the normalcy bias.

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.