Over the past number of years, the emerging field of behavioural economics has helped us gain a much better appreciation of the complex stages and integrated components of organizational decision making. As a result, we have come to better understand the entire end-to-end process that ultimately determines the nature and the quality of the decisions we make as individuals, teams and organizations.
The two basic questions that leaders should ask are:
- Does your organization make reliably good decisions quickly, or repeatedly poor decisions slowly?
- Does your organization follow a disciplined process to help frame problems and foster collaboration, or does it apply an ad hoc approach?
We are now coming to understand how all decisions, ...