Conclusion: Indecision can be a business killer

The previous post wrapped up the summary of the books discussed in Investigating Indecision: Why We Can’t Seem to Make Up Our Minds.

In conclusion, the article says that at first glance, these books appear to offer vastly different decision making strategies. However, there are some recurring themes:

  • Intuition is best used by masters, not novices.
  • Algorithms are better at decisions than your brain.
  • Take your time to make a decision (but not too much of it).

Is your organization struggling with indecision? #GetPEOPLE. Focus. Leave the rest to us.

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Indecision can be a business killer, part 5

Finally, we have Wait: The Art and Science of Delay. This book offers a significantly different approach to decision making. Partnoy suggests we wait until the last possible moment.

It sounds simpler than it is. Instead of passively waiting, we should be actively managing delay. Partnoy says to take as long as you can to make up your mind- unless you’re an expert. In that case, trust your intuition. “An expert generally won’t need to delay a decision, but a novice generally should delay, as much as possible.”

Partnoy proposes a simple two-step process:

  • First, find out how much time you have to make the decision. It’s often more than you think.
  • Second, wait as long as possible to make a choice. By giving yourself extra time, you have more opportunity to explore your options and gain valuable insight.

This, of course, doesn’t work so well if …

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