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Published by:
Harvard Business Publishing (2009)
Chapter from:
"Think Twice: Harnessing the Power of Counterintuition"
Length:
34 pages

Abstract

Most of us like to leverage our positive outcomes by applying the same approach to the next problem. We have a thirst for success formulas - key steps that will work every time. Sometimes our success formulas do work in a new situation, but often they fail us. Why? Because we don't adequately consider the circumstances affecting our decisions. Using as an example Boeing's ill-fated decision to have suppliers both design and build sections of its new 787 airplane, author Michael Mauboussin shows how a failure to take circumstances into account can wildly skew the outcome of a seemingly logical decision. When the answer to most questions in life is 'It depends', it's wise to think hard about the circumstances surrounding your decisions, especially when the stakes are high. This chapter is excerpted from ‘Think Twice: Harnessing the Power of Counterintuition'.

Topics

Decision making; Strategic thinking

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