Decision Making: Perils and Remedies
Why do even professionals with extensive experience make lousy decisions?
Whether it’s recruiting, site selection, or bid evaluation, management has to make crucial decisions on a regular basis. But, regardless of how critical the decision may be, many managers find it hard to even entertain the idea that they might be making sub-optimal decisions.
Nevertheless, research tells us there are valid reasons to doubt the effectiveness of most decisions we make. In 1956, Professor George Miller of Princeton University published research showing that humans can process only a limited amount of information at a given point in time. Today—when we are constantly bombarded with information—this becomes even more of a problem.
Today, in the face of information and choice overload, our decision-making tends to become overly influenced by personal bias, intuition, prior experience, and perception. Hardly the best foundation for good decisions!
Learn to make timely, consistent, optimal decisions that are defensible!
About the Presenter
Dr. Wirasinghe is the author of the book “The Art of Making Decisions” and the developer of the XpertUS Decision Support System. He has trained several Fortune 500 companies, and is also a guest lecturer on Decision-Making at the University of Houston’s MBA program.
He started life as a Mechanic, and went on to become an Oil & Gas Engineer, Research Scientist, University Professor, Management Consultant, and Director of a Public Utility. He also owned several Retail Stores, and founded an Equipment Leasing Company.
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