Decision Making Pocket Skills Guide

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How to make effective decisions at work, take a look at our skills guide and find useful and effective techniques to guide your decision making.

Business

©Rothwell Douglas Ltd. 2016 2
Contradictory to the beliefs of traditional economists, we as
humans are pretty irrational in our decision making.
90% of our thought processes are automatic meaning
only 10% of our decisions rationally thought through

©Rothwell Douglas Ltd. 2016 3
How and why do we make irrational decisions?
1. Mental Shortcuts (Heuristics)- mental rules and associations learnt to make
decision making quick and efficient
2. Bounded Rationality- limitations in time and information available to make
decision e.g. alternatives and consequences
3. Limited Capacity- too much information can cause cognitive overload and
prevent us from making a decision effectively
4. Loss and Risk Aversion- humans tend to take the ‘safe option’ when making a
decision even if it isn’t the best
5. Cognitive Biases- we base decisions on irrational assessments i.e. the more
expensive it is, the better it is- this isn’t always true!

©Rothwell Douglas Ltd. 2016 4
How can you improve your
decision making?

©Rothwell Douglas Ltd. 2016 5
Gather as much relevant
information as you can

©Rothwell Douglas Ltd. 2016 6
Set a timescale and don’t
procrastinate

©Rothwell Douglas Ltd. 2016 7
Don’t let your ego get in
the way

©Rothwell Douglas Ltd. 2016 8
Think of your future
(not instant gratification)

©Rothwell Douglas Ltd. 2016 9
Don’t be afraid to take risks

©Rothwell Douglas Ltd. 2016 10
Once you understand how we make decisions, you
can find ways to influence others’ decision making.
This can include gaining buy in on an idea from your
team.
Here’s our top 3 tips…

©Rothwell Douglas Ltd. 2016 11
Use your words wisely!
Research has shown that ‘framing’ the way you present options and
ideas can hugely influence peoples’ judgements.
When presenting options, always emphasise the benefits and frame
the desired option in a positive way.

©Rothwell Douglas Ltd. 2016 12
Make familiar associations
People are more inclined to make predictions based on what’s
happened before.
Linking new ideas to previous ideas that have been successful will
create positive associations.

©Rothwell Douglas Ltd. 2016 13
Don’t overload!
When presented with too much information we struggle to process
it all (cognitive overload). The same applies with too many options
to consider.
When presenting information and options, keep it simple and only
use relevant and useful information.

©Rothwell Douglas Ltd. 2016 14
Want to know more?
We have a 3-part blog series on decision
making- check it out!
www.rothwelldouglas.com/blog/

©Rothwell Douglas Ltd. 2016 15
Transforming the Experience of Work…
Releasing Potential in People
Empowering Effective Teams
Driving Innovation in Organisations
Connecting Expertise across Systems
Email: enquiries@rdlteam.com
Phone: 02083262739

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