It’s nice to be made aware of some different thinking to your own in areas that one is focusing on. This happened to me last week. I, along with many of you have been preaching risk-based decision making for a long time and along comes this advice to students at Stamford University Graduate School of
The only certainty is uncertainty. The Uncertainty Paradox! I finished last year writing about our tendency towards impulsiveness and our counter-tendency towards indecisiveness. Both are very real and are played out under different circumstances EXCEPT the underlying issue is ‘uncertainty’. Impulsiveness is a problem because we fail to consider the uncertainties well enough while indecisiveness
Last blog I wrote about working with our tendency for impulsiveness. Which can lead to one hell of a fun ride and other times can lead to regret. Counter this with the fear of making the wrong decision. Sometimes we are so uncertain as to the right decision we are frozen and unable to decide.
The solution for working with our tendency for impulsiveness can be found in Daniel Kahnemann’s book Thinking Fast and Slow. He gives more than forty heuristics, where we take mental shortcuts to make a quicker decision. (Erik Johnson has a nice summary of each of them here). Kahnemann explains how each of these are by
Uncertainty is a strategic leader’s best friend. How can it be otherwise? If there was enough certainty “everyone would be doing it!” So what path does the strategic leader follow when the going gets tough? Run a workshop to find the next disrupter for your industry, review your digital strategy, hire younger talent who know