Tag: Fast & Slow

Improve Your Decision-Making, Improve Your Leadership

Decision-MakingDid you know that we make about 35,000 decisions a day? Learn about the many factors, conscious and sub-conscious, that affect our choices, and how we can control the ones that will help us make the best decisions.

The brain is a powerful machine constantly working behind the scenes, absorbing and dissecting information at an unimaginable rate. Without even realizing it, most people make thousands of decisions every day, from choosing a snack to making swift decisions while driving. Of course, there are the tougher decisions that we really contemplate, too.

Making the best decision is critical to success in most fields and disciplines. Our lack of understanding of how our minds work has profound consequences. Modern psychologists are studying the processes in our complex and sophisticated brain and have identified common errors in thinking, shortcuts used in the decision-making process, and cognitive biases that influence our decisions without our knowledge.

We know that good decision-making is critical to business success and will impact the bottom line. Daniel Kahneman, PhD, a Nobel-prize winning psychologist and author, explains how the brain functions in making decisions. In his book, “Thinking, Fast and Slow,” he breaks down the decision-making process into two systems: System 1 and System 2.

System 1 works quickly and deals with automatic, unconscious thinking, such as finishing thoughts and sentences. It’s deeply rooted in our intuition and emotional mechanism. System 2 works more slowly, focusing on logic and problem solving. It is associated with deliberative thinking and complex computations, while System 1 is more reactive and creates impressions and feelings. Leveraging these two aspects of decision-making can be enormously beneficial.

One of the most significant of the biases that affect our decisions Kahneman calls “pervasive optimistic bias” which gives us the feeling of having control. That is also referred to as “illusion of control,” the tendency for people to overestimate their ability to control events In their lives. Other biases that need to be understood and considered include: ”framing”, where familiar numbers form the context for our decisions, although there may not be any reason for them to be relevant or accurate, and “loss aversion,” a tendency to fear losses more than value gains.

Professional assistance and career development

At Merit Career Development, we stay on top of the latest proven research and integrate these findings into our unique and engaging programs. As a result, participants can learn about many different features that are integral to the decision-making process. We help our clients understand how the two primary systems generate actions for quick thinking and more thought-requiring decisions.

Participants in our “Better Decision Making” program will learn about traps like biases and blind spots that can unconsciously and negatively affect best decision-making practices. Merit teaches the tools to develop effective listening techniques and how to adapt and apply this knowledge to different types of situations.

Like most Merit programs, this highly engaging and interactive workshop is ideal for optimizing learning retention of valuable information. Numerous rational tools and practical techniques ensure that the lessons taught will be carried over into real-life workplace scenarios.

Interested leaders can review the course outline for Merit’s “Decision Making and Problem Solving” to discover why it is the one-stop for dynamic workforce training.


© 2014 Merit Career Development. All rights reserved. For more information, please contact Jim Wynne at jwynne@MeritCD.com.

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