Archive | Ambiguity

How Risk Aversion is Killing Your Business & What to Do About It

In Risk Aversion, we explained how human biology works against us when facing tough decisions. We are hard-wired to eliminate uncertainty meaning that we tend avoid tough decisions or choose the traditional path because following this path feels safe. Taking even a small risk scares us. The consequences of succumbing to our biology are an […]

Risk Aversion

A Risk-Averse Business Climate “We’re afraid to take a chance,” replied the treasurer at a large, U.S.-based manufacturing firm. He was responding to my question about the biggest challenges he faced at work. Executives complain about a lack of fresh ideas from the front lines while employees lament the absence of bold leadership. “Where is […]

Why Biology and Decision Making Don’t Mix

On a cool January evening in Florida, NASA leaders held a teleconference to discuss a space shuttle launch scheduled for the next day. Engineer Roger Boisjoly argued that the low temperatures would likely erode the O-Rings, an essential part of the solid rocket boosters. If damaged, the O-Rings would fail, almost certainly leading to disaster. […]

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