How to Avoid Making Bad Decisions
ADAPTED FROM THE BOOK: Think Again: Why Good Leaders Make Bad Decisions and How to Keep It From Happening to You
ABOUT THE AUTHOR: Syd Finkelstein is Professor of Management at the Tuck School of Business at Dartmouth. He is faculty director of the Tuck Executive Program and has published 11 books, including the #1 bestseller in the U.S. and Japan, Why Smart Executives Fail.
CONTENT DESCRIPTION: In Think Again, a follow-up to Why Smart Executives Fail, Sydney turns to major strategic decisions and numerous business cases to explain why decision-makers sometimes think they're right when they are actually wrong. The book not only documents why things go wrong, but also offers a series of solutions that reduce our vulnerability to fall into the traps that lead to bad decisions.
In light of the challenging business environment we are now facing, the lessons from this book are especially timely.
This download features chapter six, “Misleading Prejudgments,” which describes how the former CEO of Britain’s largest drugstore chain allowed prejudgments to lead him to wrong decisions. Some prejudgments are supported by reasonable evidence and are justified; however others may be misleading. The chapter provides specific questions to ask ourselves to help identify misleading prejudgments when making decisions.
Fill out the information at right to receive this chapter and learn why misleading prejudgments are among the most powerful causes of bad decisions and how to avoid being subconsciously influenced by them…
Reprinted with permission from Harvard Business Press. Excerpted from THINK AGAIN: Why Good Leaders Make Bad Decisions and How to Keep It from Happening to You by Sydney Finkelstein, Jo Whitehead, and Andrew Campbell. Copyright 2008 Sydney Finkelstein, Jo Whitehead, and Andrew Campbell. All rights reserved.