ABSTRACT

Making decisions is a critical part of every executive’s job. However we know so little about the often subliminal processes that shape the decisions we make. The Secret Life of Decisions exposes the unchallenged myths and distortions that impact our reasoning ability, raising our awareness of the many traps we can fall into. Meena Thuraisingham and her collaborator, Wolfgang Lehmacher, have drawn from decades of work with leaders showing that even the most talented leaders and teams can end up making sub-optimal decisions. This is rarely because they had poor critical thinking faculties but rather because they did not pay enough attention to the often invisible traps hardwired into our thinking processes, letting through only information that conforms with our current beliefs, mental models and expectations. This leaves many leaders and businesses exposed. Rather than being the rational output of our reasoning abilities, the authors show decision making to be a highly imprecise process. As decision makers we come to the table armed with our own perspectives, preferences, filters, heuristics and biases, influenced by a broad range of social influences many operating subliminally. The Secret Life of Decisions is an essential read for developing and seasoned executives who have to work through increasingly complex and high stakes decisions. It treats choosing wisely and the thinking involved as a skill, which as with many other skills, can be improved with the guided practice and supporting tools provided here. The journey however starts with awareness that comes from outing the ’secret’ forces that can sabotage the quality of our decisions.

chapter |4 pages

Introduction

part |2 pages

Part I: The Costs of Biased Judgements and Bad Decisions

chapter 1|6 pages

Thinking About Our Thinking

chapter 2|14 pages

The Costs of Biased Thinking

part |4 pages

Part II: Defying the Myths, Revealing the ‘Secrets ’ and Choosing Wisely

chapter 3|20 pages

Memories Can Deceive

chapter 4|18 pages

Experience Can Trap

chapter 5|16 pages

Optimism Can Cloud

chapter 6|22 pages

Fear Can Do More Harm

chapter 7|18 pages

Ambition Can Blind

chapter 8|16 pages

Attachment Can Lead Astray

chapter 9|18 pages

Values Can Mislead

chapter 10|16 pages

Power Can Corrupt

part |2 pages

Part III: Developing Best Practice Decision Behaviour

chapter 11|14 pages

Best Practice Decision Behaviour

chapter 12|8 pages

The Future of Decision Making