Here is another valuable Management Tip of the Day from Harvard Business Review. To sign up for a free subscription to any/all HBR newsletters, please click here.
Making decisions is your most critical job as a leader. The more high-stakes a decision is, the more likely you are to get stuck.
Here’s how to avoid three of the most common traps:
1. Anchoring. Many people give disproportionate weight to the first information they receive. Be sure to pursue other lines of thinking, even if the first one seems right.
2. Status quo. Change can be unsettling and it’s easy to favor alternatives that keep things the same. Ask yourself if the status quo truly serves your objectives and downplay the urge to stay in your current state.
3. Confirming evidence. If you find that new information continually validates your existing point of view, ask a respected colleague to argue against your perspective. Also try to avoid working with people who always agree with you.
Today’s Management Tip was adapted from Harvard Business Review on Making Smart Decisions.
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