Made a bad decision1/16/2024 ![]() They swear they’re not going to make a regular thing out of it, but. They have that extra drink, eat too much sugar, or cheat on their partner. (I promise to write a short piece on this topic soon – stay tuned!)īut an even better question is: when do you measure whether you make a good decision? Answer: at decision point, at decision time, based on your particular circumstances, appraisal of uncertainties, appetence for consequences, and risk profile at the time. They don’t care what the consequences are. When a person ignores the signals in their own system and makes bad decisions (by the definition here) they will generate the consequences of bad decisions. In 1981, Amblin Productions called Mars and had a proposition for them. It also hinders the ability of decision-makers to have a clear view of all of the important business data needed to make the appropriate overarching decisions based on its analysis. We’ve not these bad business decisions in a particular order take a look: 1. It sounds a little bit like this: “this guy must be really good, he made a fortune last year (he actually bet all his family’s savings on the 00 at the roulette, a horrible decision turning into a fantastic outcome).” let you know whats important to you prompt you to take some action guide you toward an aspect of yourself that needs to be. Here are 20 of the worst business decisions ever made to illustrate that point, and we have added a mention of retail mistakes due to the pandemic. If you were tempted to answer “outcome”, don’t! The outcome bias is one of the most pervasive and dangerous cognitive (sometimes motivational) biases in decision making – and there are many others. What makes an alternative, a course of action, more attractive than the other? A set of consequences, a set of likelihoods of occurrence of these consequences, and your degree of preference for each, based on your degree of tolerance toward risk.Īh ok, yes, but how do you know you make a good decision? How will you measure your decisions? Indeed, to make a decision means that you have the choice between at least two, more or less equally attractive, alternatives. ![]() It doesn’t say anything about whether one decision is right or wrong.” Two weeks later, he had moved on to a promising new career in another country. A few days ago, a friend of mine asked me “what is better, to do nothing? Or to make a bad decision?” I answered “doing nothing is a decision to stay with the status quo, therefore rejecting the alternative of change. ![]()
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |