Are you considering a major building project? An addition to your home? An information technology overhaul for your business? If so, be acutely aware of the planning fallacy — and try to avoid its pitfalls. Optimism bias may well be the most significant of all cognitive biases. Read on at https://prismdecision.com/the-planning-fallacy-and-optimism-bias
Credit Union "Micro" Strategic Planning
Small- and medium-sized businesses often run micro retreats that compress strategic planning into a day or less. Too often, these retreats are poorly executed: there has been little preparation and the decision-making process is opaque. Alternatively, a successful micro retreat depends upon four key factors: a lean strategic planning process, preliminary research and detailed preparation, dynamic group process and skilled decision support, and strong, consensus agreement to act. This post uses a case study from the credit union sector to illustrate each of these factors and demonstrate how to run an effective strategic planning micro retreat.
Changing Education Paradigms
Sir Ken Robinson’s fascinating, thought-provoking and highly engaging animated narrative of the history of formal education, its current failures and a better path forward. The presentation was given upon the occasion of his receiving the Benjamin Franklin Medal by the Royal Society of Arts in London at https://prismdecision.com/ddy
Are Too Many Options Bad For You?
I firmly believe that having more options is preferable to having fewer options. On the other hand, just about every time I go to the grocery store, I wish there were fewer choices. So I am conflicted: my training and belief system tell me the more options, the better; my experience, sometimes just the opposite. Research now validates the conflict I experience. In fact, Columbia researcher Sheena Iyengar asserts that having too many options results in poorer decisions. Read on at https://prismdecision.com/z4x.
The Monkey Business Illusion
View the Monkey Business Illusion and test your susceptibility to inattentional blindness at https://prismdecision.com/2lf
Assumption Busting
It is historical continuity that maintains most assumptions — not repeated assessment of their validity. – Edward DeBono, Lateral Thinking
Creativity often requires assumption busting: identifying key assumptions, ruthlessly questioning their validity, generating new assumptions, and then asking ‘What if?’