Decision Making Upgraded ~ Part 3

This is the fourth blog in the Decision making series. You can read the previous blogs here: Introduction, DecisionMaking Frameworks,Complexity Vs TIme.

While the risk associated with decision making is considered most of the times, as a key consideration, decision makers usually do not think about reversibility.

Stakes Vs Reversibility in Decision Making

• High Stakes, Low Reversibility make your decisions 'Do or die'.

• High Stakes, high reversibility, let you 'Live another day'. So you have leg room.

• Low Stakes, Low Reversibility decisions are Table Stakes.

• Low Stakes, High Reversibility decisions appear as 'Ground hog day' or 'Deja Vu'

Pointers to the decision maker are

1. Do not forget to think about reversibility apart from the stakes involved

2. Have the courage to learn from mistakes

3. Do not catastrophize every decision to do or die.

Next time you make a decision, bring awareness to its reversibility!

#coaching #executivecoaching #decisionmaking