In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief or a course of action among several possible alternative options.
Motivated reasoning can lead people to believe everything’s fine despite evidence to the contrary. Here’s how to counter emotions with facts. Despite their best intentions, executives fall prey to cognitive and organizational biases that get in the way of good decision making. In this series, we highlight some of them and offer a few effective ways…
Effective entrepreneurs recognize and, indeed, embrace continuous change: customer preferences change, competitors’ actions change, markets change, technology changes, prices change, business methods change. New knowledge is continuously created and accumulated. Effective entrepreneurs equally recognize that their businesses must change in response: capital combinations change, supplier and customer relationships change, organization structure changes, business portfolios and…
The COVID-19 pandemic has suddenly and dramatically upended the working world, creating unanticipated business and leadership challenges. Some organizations are pivoting hard to new delivery channels, new products, and new operating models without having enough time to manage the impact of these changes thoughtfully. As a result, many executives currently find themselves shooting from the…
Imagine you are a tenured CEO of a company. You have led your organization through many adverse events. You have followed a playbook, and moved to a “command and control” style to address the cascading effects of various perils. But now you’re dealing with a crisis unlike anything you’ve ever experienced. There is no playbook…
