Decision Making Biases

Managers are expected to want to climb the corporate ladder, and decisions are a key means by which they make that climb. Managers constantly seek opportunities to make decisions of even greater importance. Consider the following advice given to management in the popular press:

There is one question to answer in the decision-making process. ‘If I do x, will it allow me to more so be who I want to be, or not?’ It sounds simple, and it is. Because of the way the question is asked the answer will be yes or no. This decision process is unique and distinct for each individual. If it's a 'Yes', then go ahead. If it's a 'No', do not do it.

Sometimes the answer may be ‘I don't know’. In this case, the most useful thing is simply to wait and gather more information. This is not the same as being indecisive. An 'I don't know' in this decision-making process, simply means that you don't have enough data. Time spent gathering the information will be time well spent. Then it becomes obvious whether the answer is yes and no.

This is definitively not a rational decision-making process! There will be times when you make decisions that you know are right for you. Everybody around you, however, may think you have lost your mind. Nor is it purely intuitive process. You actively use the relevant information in the environment around you to make sure that you get where you want to go. It would be fair to say that this decision-making process uses elements of a rational approach as well as those of an intuitive approach.

What about the consequences? Of course, there are always consequences to any decision-making process. The most important consequence to using this particular approach is that you get to live your own life! This is important and is worth repeating. Whenever you use this decision making process, you are guaranteed that each choice you make will allow you to be who you most want to be in the world so that you can live your own life. Illustrative Management Advice Website Text (~2009)

So in the end, we select R&D prototypes to carry forward by criteria that allow managers to be what they want to be (i.e., a good surfer).


Geometry is All, Economist magazine, Nov 22nd 2007 (subscription required)
...a theory of everything might emerge from geometry ... Garrett Lisi is proposing. The geometry he has been studying is that of a structure known to mathematicians as E8 ... Dr. Lisi spends his time surfing and snowboarding and is not employed by a university or research institute...

Navigation: