Debiasing techniques […] aim to limit the effects of overconfidence by forcing the decision maker to consider downside risks that may have been overlooked or underestimated. And they can mitigate the dangers of confirmation bias by encouraging executives to consider different points of view.
Examples of such techniques include either the systematic use of a devil’s advocate or a “premortem” (individuals project themselves into a future … [ Read more ]
Content: Quotation | Authors: Olivier Sibony, Philip Meissner, Torsten Wulf | Source: McKinsey Quarterly | Subjects: Decision Making, Management, Organizational Behavior
Before doing so, executives should ask themselves two sets of questions.
Content: Article | Authors: Olivier Sibony, Philip Meissner, Torsten Wulf | Source: McKinsey Quarterly | Subjects: Management, Personal Development