Efforts to understand how we can make decisions more effectively can lead to an improvement in outcomes, writes Philip Delves Broughton in Financial Times.
How to improve your decision-making:
● The ability to make good decisions fluctuates throughout the day. Don’t exhaust yourself with small choices. Save your decision-making energy for what matters.
● Good process leads to good decisions. Consciously work to challenge the bases of decisions and the biases and prejudices of decision makers.
● Make decision-making a constant and flexible process. Keep a running list of several options for important decisions, discussing them with fellow managers and updating them with new discoveries. This lessens the drama of big decisions and allows for more course corrections en route.
● Seek ways to distance yourself from the emotion of decision-making. Going over the decision in a second language might sound a strange approach, but it has been shown to lead to more rational decisions.