Decision-Making Warning Flag 1 – Logic Fallacies Introduction
Complex decisions require executives and managers to synthesize a multitude of variables into meaningful information from which they must choose a course of action. Some executives and managers combine clarity of thought and depth of knowledge and experience with a true understanding of the organization’s goals to identify and select a well founded decision option. Others find their perspective clouded by personal bias, self interest, misinformation, inexperience, and/or a lack of decision-making fundamentals knowledge; falling prey to logic fallacies, the misapplication of logic during problem solving. While a lack of knowledge and/or experience with problem solving may contribute to logic errors, they are typically the product of decision-makers’ underlying desires.
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The following StrategyDriven recommended best practices are designed to reduce the likelihood of erroneous logic being applied during the decision-making process including:
- Decision-Making Best Practice 2 – Multidiscipline Teams
- Strategic Analysis Best Practice 1 – Integrity Without Excuses
- Strategic Analysis Best Practice 2 – advocates diaboli, The Devil’s Advocate
- Strategic Analysis Best Practice 3 – Identify the Hidden Drivers
- Strategic Analysis Best Practice 3 – Identify the Hidden Drivers (Continued)
- Strategic Analysis Best Practice 4 – Independent Assessors
- Strategic Analysis Best Practice 5 – The Use of Models