|
Decision Flaw |
Self Assessment |
Balancing Strategy |
|
1.
Unbridled
optimism
Seeing only
benefits & overlooking risks |
I tend to
have a very optimistic temperament and expect everything to work
out for the best.
q
Yes
q
No
q
Somewhat |
Ask someone
else to be the “devil’s advocate” and try to find the flaws in
your decisions. Gather data to explore possible problems. |
|
2.
Short-term focus
Failing to
see long-term consequences |
I tend to be
very aware of the need to solve immediate problems and seldom
think too far ahead.
q
Yes
q
No
q
Somewhat |
Before taking
action, try to imagine all possible consequences of the
decision. Partner with someone who is a more natural long-range
thinker. (You can help balance them, too)
|
|
3.
Hot button
reactions
Acting on
strong emotional biases |
I
have strong
feelings about certain things and may not be open to much
disagreement or debate in those areas.
q
Yes
q
No
q
Somewhat |
Ask others to
tell you what they think your hot buttons are. When you feel a
“hot button reaction” coming on, don’t say anything until you
have heard from those with a different opinion.
|
|
4.
False consensus
Assuming that
everyone agrees |
I express my
views very strongly and will actively debate anyone who
expresses a different viewpoint.
q
Yes
q
No
q
Somewhat |
Get the
opinions of others before expressing your own. Do not talk at
length when presenting your views. Listen when others are
speaking.
|
|
5.
Status quo bias
Fear of
making the wrong decision |
I am
uncomfortable taking risks and tend to worry about the possible
negative consequences of making a change.
q
Yes
q
No
q
Somewhat |
Thoroughly
explore the potential benefits of a change. Recognize that
staying with the status quo is also a risk. Learn to recognize
and manage your feelings of anxiety. Use pilot projects to
minimize risk.
|
|
6.
Herding instincts
Copying the
actions of others |
I
like to
stay aware of current trends and adopt practices that are being
used by others.
q
Yes
q
No
q
Somewhat |
Do not adopt
new approaches until you have independently evaluated their
benefits and risks. Assess them in light of your own
organizational goals and culture.
|
|
7.
Sunk cost effect
Sticking with
a bad decision for too long |
I am
reluctant to abandon a project or strategy if it means wasting
time or money that I have already invested in it.
q
Yes
q
No
q
Somewhat |
Use pilot
projects to avoid making large initial investments. Evaluate
existing projects, policies, or programs based on future risks,
costs, and benefits, not past investment.
|
|
8.
Too much gut
Fear of
making the wrong decision |
I
trust my
intuition and will often follow my “gut instincts” when making
decisions.
q
Yes
q
No
q
Somewhat |
Check out
your gut reactions by collecting facts and data to evaluate the
situation. Appoint a “devil’s advocate” to look for valid
arguments against your decision. |
|
9.
Lone ranger
tendencies
Failing to
get important input |
I have a
great deal of faith in my decision-making ability and am very
comfortable making decisions independently.
q
Yes
q
No
q
Somewhat |
Identify
those who may have useful knowledge to contribute or who will be
greatly affected by your decision. Discuss the decision with
them and get their input.
|
|
10.
Self-serving
attributions
Refusing to
see your own mistakes |
I generally
find it easier to see how others contributed to a problem than
to recognize the part that I played in it.
q
Yes
q
No
q
Somewhat |
When problems
occur, ask yourself “what could I have done differently in this
situation?” Avoid the tendency to blame others for mistakes.
Use problems as learning opportunities.
|
