Science shows us that humans suffer from well over 200 cognitive biases. These are systematic errors in thinking that influence our judgement and cloud our decision making processes.
One example is the “Sunk Cost” fallacy, the idea that a person will continue along their present path, even when new information will lead them to a better result. Given the emotional and monetary investments made, this is a challenge for most of us.
If science allows us to understand the problem, then it also gives us a compelling solution. As it happens, science has shown us that decision making under uncertainty, lack of complete knowledge, and a short timeframe create a unique set of conditions. When we need to, we can mentally prioritise the most critical information required to make decisions.
Decision Making with Strategic Urgency
Through Strategic Urgency™, we prioritise the most important actions first. Then we use short, iterative cycles to maximise learning in minimal time.
This creates a number of benefits. By separating success and failure from our decision-making process, we focus instead on the economic impact of our decisions. A by-product of this approach is to democratise the decision making process.
With Strategic Urgency™ we achieve stakeholder buy-in, shorten decision cycles, and as a result, achieve exponential outcomes.
The positive consequence for organisations is a culture of experimentation, with participants embracing failure as a strategic path to success. This creates a positive set of conditions that foster and incentivise collaboration, improving one of the most challenging dynamics within organisations.
Think Fast Decide Faster has been used in government entities and private sector organisations across geographies and cultures. In every case, it turns decisions into actions. What would have taken months can effectively be reduced into days. In the private sector, the methodology has reframed challenges into highly counter-intuitive – and highly profitable – new business models.