wise decision making Archives | Page 2 of 2 | Disaster Avoidance Experts

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.

Organizations often fail to train newly-promoted leaders well, because 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.

Company cultures and top leaders often 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.

Dr. Gleb Tsipursky interviews Paul Powers, CEO of Physna. Paul is the founder of multiple successful tech-focused enterprises and a member of the prestigious Forbes 30 under 30.

The choice that feels most comfortable to your gut is often the worst decision for your bottom line. To be a truly wise decision maker, you have to adopt counterintuitive, uncomfortable, but highly profitable techniques to avoid business disasters by making the best decisions. That’s the key take-away message of this episode of the Wise Decision Maker Show, which describes the Wise Decision Maker Movement Manifesto.

Avoiding Disastrous Decisions involves:

1) Deciding the decision criteria
2) Weighing importance of criteria
3) Grading your options using the criteria
4) Checking with your head and gut
5) Sticking to your choice