Decision Making

Apply tight WRAP to make wise calls

November 14, 2013
Normally, we make decisions based on the information right in front of us and overlook data off to the side. That leads to a trap called the “spotlight effect.” It’s better to move the spotlight from side to side to gather a wider range of information. Use the WRAP method to expand your frame of reference.

Form your own culture club

October 3, 2013
Aaron Jagdfeld runs a fast-growing company with $1 billion in annual ­revenue. He’s president and CEO of ­Generac Holdings, a maker of automatic standby generators based in Waukesha, Wis. Jagdfeld joined Generac in 1994 and became its chief executive in 2008, starting with a blank slate to shape the company’s culture.

How to avoid ‘the escalation trap’

October 1, 2013
Making a bad decision is bad enough. Just don’t dig yourself into a deeper hole. You’ll save time and headaches by avoiding what experts call “the escalation trap”—escalating your level of commitment to a lost cause.

Eisenhower’s toughest decision

August 8, 2013
On June 2, 1944, all the pieces were in place for the largest amphibious assault in world history. Planning for D-Day fell to Supreme Commander Dwight D. Eisenhower. The only unknown? The weather. How did he make one of the most consequential decisions in history?

Show leadership the ‘first 10 days’

August 8, 2013
Given the general acceleration of things, the “first 100 days” as a measure of an executive’s effectiveness, first used in 1933, has sped up. So how would that work for a new CEO?

Making strong moves

July 19, 2013
Tim O’Shaughnessy, founder of the daily deals company LivingSocial, truly is social in his approach to leading. He also likes bold new approaches.

Your guide to making better decisions

June 21, 2013
A leader’s most important job is making good decisions. Step back and improve yours: Consider several options, think objectively, be fair and curb your enthusiasm.

Strategic management: Too much data poses risk

April 29, 2013
With so much information at our fingertips, it’s tempting to rely on data to make important decisions. But don’t overlook other variables. Consider the case of a big U.S. bank CEO.

Stumped? Consult ‘the crowd’

April 11, 2013

Do you rely on your “golden gut” when making decisions? Or do you believe that other people in your organization have expertise or opinions that can help make your decisions better? Greg Burrill, owner and founder of home-builders WGB Homes, is in the second camp.

Cultural gaps can spell merger disaster

March 20, 2013
To bring cultures together, identify differences in attitudes and work habits. Then address the differences so that everyone gains a better understanding of their colleagues’ perspectives. Skip this step and conflicts can erupt. This occurred after Daimler-Benz acquired Chrysler in 1998.