Groups make better decisions. Consider the example of a desert survival exercise or the wisdom of the crowd. Look out for risk shift. Are the quiet ones speaking less? If nobody has accountability, risks are more likely to be taken. Appoint a black hat wearer and have a separate section of the meeting on what might go wrong.
- When you're making a decision,…when you're choosing between possible options…for solving a problem,…should you make the decision on your own…or should you consult other people?…Well, consulting others does take longer,…and some leaders think it makes them look weak,…but even if you're cleverer and more experienced…than the others, which might be why you're the boss,…you will still get a better decision…if you consult other people,…so you should if you possibly can.…There's an effect called the Wisdom of the Crowd…which says that if you want to estimate…the number of say, coins in a jar,…or the cost of a project or the profit from an investment,…the more people you ask,…the more accurate the answer will be.…
If you can get 100 friends to estimate the coins in the jar…and then you take an average, it will be spot on.…In fact, just 10 people will get it pretty good,…probably good enough to win the competition.…This is because some of your friends will underestimate…and some will overestimate,…so the average will be close to the correct number,…
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- Identifying the real problem
- Generating possible solutions
- Boosting your creativity
- Using your intuition and logic
- Selecting the best solution
- Considering implementation