Just like a computer software program, checklists can be useful, but if there is a flaw in the system, they can be a disaster.
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One of the best ways to do better in the future is to learn from past mistakes–preferably someone else’s mistake. When you make a mistake and then make the same mistake again, it’s pretty clear that you didn’t learn from your prior error.
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The General Assembly of the United Nations (UNGA) begins today in New York with the annual General Assembly session. The UNGA is designed to bring all members of the United Nations together for the purpose of making critical global decisions, including peace and security, development, international law and more.
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The U.S. Open recently announced a change in how players will be seeded after taking maternity leave. In a classic case of reevaluating long-standing decisions to determine whether the current solution can be improved.
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Happiness happens…when you make the effort. We’ve all heard the well-meaning advice, “Just decide to be happy.”
Easier said than done.
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Every time I ask an audience how they go about making decisions, there is always at least one person who mentions Pro vs. Con lists. While a Pro vs. Con list can be useful in helping us see at a glance where we stand on an issue, on its own
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Most investors are smart people but not full-time professional traders or investment advisers. Here is the most common mistake that those investors make:
They only have “half a plan.”
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The world’s best navigation system can’t get you where you want to go if it doesn’t know your starting point. Almost everyone thinks they are starting their decision-making process from a clean slate, but that is rarely true.
Last week, I discussed how the decision to get married is one of the biggest decisions of our lives, and yet 50% of the time we get it wrong, according to divorce statistics. Let’s look at HOW to get this decision right using the four-step formula in Never Be Wrong Again - Four Steps to Making Better Decisions in Work and in Life
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We don’t need to worry about all of the little decisions we make every day, but we should pause to think about the important ones. Choosing whether to get married is one of the most important decisions we make, but we, the American public, are not very good at it.
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You pull into your driveway, see smoke coming from your house and realize your two young children are asleep inside. You immediately jump into action, rush into the house and save your children.
Pattern recognition is the 4th step in excellent decision making. It is used to identify a trend or pattern from past events in order to predict future events.
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Probabilities is the odds-driven part of the decision-making process. Every decision is based on choosing the option that provides you the best odds of getting what you want.
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Experts are often on television making short-term predictions on stocks and global markets or longer-term predictions on topics like society and technology.
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Gut Reaction Vs. Data Analysis
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You wouldn’t think of buying a car without knowing its price tag, but a lot of people make big decisions, including very important life decisions, without understanding the real cost.
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The mind is powerful, especially our stealthy, meddling subconscious. Gut level reactions drive most of our daily actions, and in matters of little consequence, that usually works fine.
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What do you do when you have an important decision to make?