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The Five Traps of High-Stakes Decision Making

The Five Traps of High-Stakes Decision Making

What are the most common traps that face decision-makers?

Author(s): Michael C. Mankins

Publisher: Harvard Business Review

Date of publication: 2013

Read this article on the publisher's website [Harvard Business Review]

Summary

There are many examples of bad decisions. Fortunately, there are also many examples of good decisions! For the author of this article, what sets them apart is often the quality of the decision-making process. Based on feedback from practical experience, he goes over a certain number of classic decision-making traps. A brief, but enriching article.

Synopsis

This article is one of the sources used in Manageris’ synopses:

Deciding while under pressure

Deciding while under pressure

When we make decisions, we are inevitably subjected to biases—that are all the more powerful when we are under pressure and the stakes are at their highest. How can you nonetheless secure the vital strategic decisions?
291b – Synopsis (8p.) Decision Making
Secure your strategic decisions

Secure your strategic decisions

Many decision-making errors derive from reflexes that lead to form a truncated view of reality. How can we avoid this risk? By engaging in debate that allows us to confront different viewpoints.
246b – Synopsis (8p.) Decision Making