Four hazards that will derail the decision-making in your accountancy firm…
As a rule, humans don’t have a particularly strong track record of making good decisions.
Whether in business or in our personal lives we get it wrong more than we get it right… so why is this?
Because we all fall into common decision-making traps…we let our emotions, our bias, our overconfidence and our urgent need to make the decision get in our way.
A 2010 McKinsey study showed that even in the world of big corporate business the decisions are often wrong… so, if the global business leaders get it wrong, aren’t we also likely to be guilty of bad decision making too?
Our failure to make the right decision all the time is not surprising given that none of us really know the skills required to make decisions, the skills that lead to greater business success and profitability.
You’ve probably sent your team on training courses for management, recruitment, selling, buying and planning…but what about decision making?
And yet it is the single most important business skill to have…