Here's a guest post by Sydney Finkelstein, a Professor Strategy and Leadership at the Tuck School of Business at Dartmouth College, and the co-author of Think Again: Why Good Leaders Make Bad Decisions and How to Keep it From Happening to You (Harvard Business School Press, 2009). Follow Sydney Finkelstein’s Blog – The Syd Blog.
The reality is that leaders can make good decisions. But, to do so, we need to broaden our understanding of what happens when we are confronted with the usual mix of unstructured and incomplete data, different perspectives, time pressures and other sources of uncertainty. We all share some common attributes because of how our brains have evolved, and these attributes have much to do with how we think and act. If leaders are aware of what might go wrong, we will be in a much better position to make the right decisions, at the right time.