A Quote by James Surowiecki
No decision-making system is going to guarantee corporate success. The strategic decisions that corporations have to make are of mind-numbing complexity. But we know that the more power you give a single individual in the face of complexity and uncertainty, the more likely it is that bad decisions will get made.
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Decision-making is difficult because, by its nature, it involves uncertainty. If there was no uncertainty, decisions would be easy! The uncertainty exists because we don't know the future, we don't know if the decision we make will lead to the best possible outcome. Cognitive science has taught us that relying on our gut or intuition often leads to bad decisions, particularly in cases where statistical information is available. Our guts and our brains didn't evolve to deal with probabilistic thinking.
The more decisions we make in a day, the more likely we are to make bad decisions - because deciding wears us down. You start making decisions in the morning, and by the middle of the afternoon, you're running on fumes.
Any individual decisions can be badly thought through, and yet be successful, or exceedingly well thought through, but be unsuccessful, because the recognized possibility of failure in fact occurs. But over time, more thoughtful decision-making will lead to better overall results, and more thoughtful decision-making can be encouraged by evaluating decisions on how well they were made rather than on outcome.
Whether baseball or football, we're tasked in front offices with making decisions under uncertainty. How do you corral that uncertainty in a way to make more consistently better decisions? That's very similar.
Players enjoy complexity – especially the power that comes with powerful tools. What they do not like is “uninteresting decisions,” or games that leave them confused or with too many “easy” decisions – decisions where there is no learning to be had.
Parts of you die with every decision you have to make. It becomes about making decisions between bad decisions and worse decisions.
In the face of ambiguity, uncertainty, and conflicting demands, often under great time pressure, leaders must make decisions and take effective actions to assure the survival and success of their organizations. This is how leaders add value to their organizations. They lead them to success by exercising good judgment, by making smart calls when especially difficult and complicated decisions simply must be made, and then ensuring that they are well executed.
Actually, I can't take credit for any of my decisions. I noticed one day that all my decisions were making themselves, and always at the right time. I haven't had to make one decision since then. They are always made for me, and they come from the wisdom that is in us all. I trust that wisdom completely. That trust itself was a decision made for me as inquiry cleared my mind. No decision, no fear.
The way to make better decisions is to make more of them. Then make sure you learn from each one, including those that don't seem to work out in the short term: they will provide valuable distinctions to make better evaluations and therefore decisions in the future. Realize that decision making, like any skill you focus on improving, gets better the more often you do it.
In the face of uncertainty, many companies will default to asking their innovators to study and analyze, which can't actually ever provide a definitive answer. The decision-making systems here are meant to deal with the reality that decisions about innovative ideas will rely on patterns and intuitions. The best venture capital organizations deal with this challenge by staging investment, actively participating in startups they fund, tying decisions to learning as opposed to artificial dates on the calendar, and assembling a diverse team of decision-makers.
You’d get very rich if you thought of yourself as having a card with only twenty punches in a lifetime, and every financial decision used up one punch. You’d resist the temptation to dabble. You’d make more good decisions and you’d make more big decisions.
I'm going to make decisions that I think are best for me and my family. So, when I make these decisions, of course I'm going to ask people for advice, but at the end of the day, Brandon Jennings makes the decisions. And I feel like the decisions that I've made so far have been successful.
There's merit in ministers being just open with the public about the inherent complexity and uncertainty of many of the decisions that they are taking.
Collectivism takes on many guises and seldom uses its own real name. Words like 'community' and 'social' soothe us into thinking that collectivist decision-making is somehow higher and nobler than individual or 'selfish' decision-making. But the cold fact is that communities do not make decisions. Individuals who claim to speak for the community impose their decisions on us all.
You don't make spending decisions, investment decisions, hiring decisions, or whether-you're-going-to-look-for-a-job decisions when you don't know what's going to happen.
My hope is that I'm going to continue to make more and more challenging work that's going to come out more and more interesting. I don't know if that will always continue to happen, but every one of my films has definitely been a progression as far as complexity of narrative, character, and plot.
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