Decision time?

I just read about a research of the McKinsey Institute about making decisions in the world of big business. Many decisions go wrong in that world by two psychological factors: confirmation bias and overconfidence bias. Both can be overcome by asking the right questions. If you take both biases in consideration, it helps you to know when it’s the right time to take a decision. Confirmation bias means, that for all of us it’s much easier to integrate new information […]

Plans need assumptions 2

It could all be so easy, if we had all the information we need, and more. We could anticipate on what’s coming, what will happen now, in a minute, tomorrow, next year. While we don’t have the information, we make it up. We assume certain things to be in a certain way. One fish: How is the water? Other fish: What’s the hack is water? ( Do you know what I mean? When I come to the office, I assume […]