Knowledge at Wharton ’Decisive’: Chip Heath on How to Make Better Choices
Jul 1, 2013
In this engaging discussion, bestselling author Chip Heath shares his expertise on decision-making. He emphasizes the importance of widening your options and reality-testing your assumptions to make better choices. Chip introduces strategies like multi-tracking, which encourages evaluating multiple alternatives, and the 10-10 method to assess long-term impacts. Additionally, he discusses the need for humility in leadership, preparing for mistakes, and the value of learning from diverse experiences. Tune in for insightful tips that can transform your decision-making process!
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Confirmation Bias Distorts Decisions
- Humans often fall prey to confirmation bias, skewing decisions to fit initial preferences.
- This bias undermines rational decision-making and distorts information gathering.
Widen Options and Prepare
- Widen your options by considering multiple alternatives simultaneously instead of a single yes/no choice.
- Also prepare contingency plans to manage uncertainty and protect decisions from failure.
Multi-Tracking Drives Quick Strategy
- Silicon Valley firms that consider multiple strategic options simultaneously adapt faster to industry changes.
- Multi-tracking reduces escalation of commitment and speeds better decision-making.
