Improving
decision making includes the elements of ability, information and process. We
often think of evidence based strategic decision-making ability as purely an IQ
affair but there must also be information and a method of evaluating that
information. This makes it possible that anyone can improve their decision
making if they can gain information and evaluate that information well. If you
are an executive or manager of some type, you will want to improve your
decision making to increase outcomes and return on effort/investment. If you do
that well over time your organization will grow. Do it poorly and it will
decline.
According to
research, evidence-based management can reduce bias and improve decision making
outcomes. The study found that reflecting on intuitive thoughts and then
passive evaluating non informally over time can lead to increased decision-making
accuracy (Criado-Perez, et. al. (2024). Stop, take a minute and think about all
the options and soak up the environmental knowledge.
Criado-Perez, C., Jackson, C., Minbashian, A. et al. Cognitive Reflection and Decision-Making Accuracy: Examining Their Relation and Boundary Conditions in the Context of Evidence-based Management. J Bus Psychol 39, 249–273 (2024). https://doi.org/10.1007/s10869-023-09883-x
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