The battle of Risk! We are not talking about the board game that takes 5 hours to complete, we are talking about your adversary every time you make a decision. Whether you see it or not, every decision involves some sort of risk. It could be uncertainty regarding the outcome or hidden consequences. What if there are options you are not even considering? Wouldn’t you want to know all the available solutions? Possible outcomes? Expected results for each scenario? Must be nice…
The truth is, some decisions are basic, we make them every day, but others might make it or break it. When you have everything on the line, you need to make sure your constructed course of action actually addresses all concerns and is achievable. Decision-making processes, according to sources that range from the Harvard Business School to your high school Math teacher, involve some sort of risk analysis. Here, the decision-maker studies the implications and impact of each possible outcome. If I leave my house before 5, I might run into some traffic.
A problem we see now a days is information. It’s simple to remember how much traffic you see every day and remind yourself that you might have to leave a little earlier. But how much information is out on the web? How many articles have been written about traffic? How much data is actually ready available for interpretation? The truth is, too much. On this day and age we are overloaded with information and forced to trust the accuracy of others. You will have Mr. “I drive a lot” that thinks you will be fine leaving 5 min before your meeting.
You have to look at research as the foundation for your decisions. When you know how green the grass is on the other side, you are going to know how badly you want to move over! Has research ever guided you to the wrong decision? Share your story below!