The core theme is that making great decisions is less about achieving perfect accuracy and more about timely execution, even with imperfect information, especially when facing external pressures.
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uh this is a hard one make great
decisions uh because
it's not always possible to make a great
decision is it yes
yes [Music]
[Music]
right now you're gonna tell us how
well i think it is because um
normally you can tell whether a decision
was good or bad in hindsight you look
back and work out whether it worked out
the way you thought it was going to work
out and away you go
i think there is uh or there are a
number of indicators that can tell us
prospectively whether or not a decision
we make is good bad or indifferent for example
example
a great decision is going to be timely
it's got to be fast
and i think the biggest problem we have
these days is decisions are too slow so
you're after momentum
i always say a decision that's 80 right
today is infinitely better than a
decision that's 85 right next week
which is
infinitely better than the decisions 90
right next month and we know that
nothing ever gets to 100 nothing
ever right so so it's about making those
judgment calls and moving forward
most of the time we hesitate on
decisions because we're afraid of
getting it wrong it's that simple
and we can move a lot faster than we
think so the way i came across this was
i found myself leading through a number
of different crises where i didn't have
the clock i didn't control it i know
you're a chess player you hit that clock
someone else you're not controlling that
and so i didn't have the tempo on the
clock myself it was either driven by the
media who was putting cameras and
microphones in my face a regulator who
was investigating an incident
an asset failure where we had to get
that asset up and running and quickly it
was always driven by someone else's
tempo and i found that the decisions i
was making in those times were actually
really good
so i deconstructed
what i was doing
that was the essential part of decision
making that wasn't slowing me down
but was helping me to get effective
decisions so things like knowing who to
consult and how much to consult
making sure that there's a strong line
of accountability for making the decision
decision
making sure that all of the available
inputs are there but not waiting for
stuff that may never turn up
making sure that you bring the most out
of the people around you and so it's one
thing to have diversity but unless you
can actually find a way to take that
diversity out of people and let them put
it on the table it's not of much value
to you to tell you the truth
and so all of these things making sure
that you
look at the balance of interest between
all the stakeholders who are affected by
a decision
measuring short-term versus long-term
elements of a decision okay and most of
all making sure that you're hitting the
root cause and not just the symptoms of
a problem so these things are all pretty
important when it comes to making great
decisions and if you think about it in
those terms and look at each of those
things you can actually make pretty good calls
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