Learn From Your Mistakes
The next time you have a decision to make, listen to those who can contribute valuable information.
Ariño, Miguel Angel
Date: Third Quarter 2015
Tags: decision-making, decision science, Fortune 500, Why Decisions Fail, Paul Nutt
Managers grossly overestimate their own abilities, dictating how everything must be done. Good decision-makers, on the other hand, consciously consider the stakes, and trust their colleagues enough to seek their contributions. These are essential conditions for effective management.