Enter the Boardroom with Nurole 134. Dr. Margaret Heffernan (1/2): How boards make the best decisions: cooling-off periods, embracing uncertainty and deep hanging out
Aug 6, 2025
Dr. Margaret Heffernan, a renowned author and former CEO, dives into the complexities of board decision-making. She highlights how uncertainty can lead to rushed decisions and advocates for the importance of taking time to analyze situations thoroughly. Margaret discusses the concept of 'cooling-off periods' to enhance judgment, along with the value of engaging in 'deep hanging out'—a relaxed approach to gather insights. She emphasizes that effective decision-making requires diverse perspectives and treating decisions as hypotheses rather than absolutes.
AI Snips
Chapters
Books
Transcript
Episode notes
Danger Of Decision By Analogy
- People rush to certainty because they fear uncertainty, and that drives shallow, analogy-based decisions.
- Repeating past solutions comforts leaders but often blinds them to what is actually different now.
Make Partial Decisions Deliberately
- Ask explicitly: 'How much of this decision do we have to make today?' before rushing to closure.
- Break big problems into parts and decide one piece at a time rather than forcing a perfect solution now.
Use Cooling-Off Periods
- Engineer cooling-off periods after important votes so new thoughts can surface before acting.
- Use short delays (a day or weekend) to capture post-decision insights without losing momentum.
