Do you trust your intuition or use logical decision making?

3 years ago 0 2 1079

When you make a decision, how confident are you that you make it logically? Most people will say that they make most of their decisions using logic, weighing up the facts and figures and coming up with a reasoned, logical outcome. However, in reality, our brain is designed to short-circuit logical decision making and make emotional, non-rational decisions. We often call this ‘intuition’ or instinct. These instinctive decisions are critical to survival when there is little time. However, the benefit gained through the speed of response is traded off for accuracy. An experiment in thinking: Try these two tasks: Task one: What comes next? Apple, Orange, Banana …… Task two: without calculator or paper and pencil, find 23 x 17. • Which task was easier? • Which task was faster? • Which task has a ‘known’ answer, and which one did you create? • Can you explain why you gave

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Forecasting excellence – without the crystal ball

3 years ago 0 0 745

I have been working with more than 30 business leaders from around Europe, the Middle East and Africa at a meeting in Barcelona. Our aim was to tackle some of the ‘big issues’ in strategy, marketing and sales, so that they could take back practical and powerful tools to their organisations. When we asked them what they wanted (or more specifically: “What could you take away from this meeting that would have a significant impact on your business”), one answer shone through strongly – most of them wanted to help their key personnel within their organisations to forecast better. I therefore created a hands-on workshop session for the attendees which focused on this topic. It reminded me that, amongst all of the important business skills that leaders and managers are taught, forecasting is often one which often gets less time, effort and attention than other topics. Following a practical case

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