How to be effective decision-makers in the time of COVID

In the last few weeks since the outbreak of COVID-19, risk and crisis management are THE HOT TOPICS.

All companies went into “crisis management mode”.

Some executed their business contingency plan, while others that didn’t have one, just improvised crisis management plans.

A lot of significant decisions are being made in companies: decisions around how to operate in the new conditions, where to cut costs, how to stay afloat, how to communicate with employees, etc…

Business leaders are evaluating several scenarios to identify the best decisions to be made.

In these circumstances, bad decisions can be extremely costly or even fatal to businesses.

Our cognitive biases are one of the major threats when it comes to making a good decision. Biases can mislead our judgment and route us to make bad decisions.

So, How to be effective decision-makers in the time of COVID?

How can we manage our biases to prevent making bad decisions?

In this episode of Internal Control Talks, I interviewed Dr. Gleb Tsipursky, an internationally known speaker, best-selling author and expert on effective decision making and cognitive biases.

In the interview, Dr. Gleb Tsipursky dives deep into:

• When “gut decisions” are helpful – and when they are not,
• The most dangerous cognitive bias for decision making,
• 8 steps to overcome cognitive bias and make effective decisions,
• The 2-minutes process to make good decisions,
• Why companies are failing to consider pessimistic COVID19 scenarios.

Watch the episode NOW – and learn how you can improve the decision-making process during COVID-19.

If you want to learn more about Dr. Gleb Tsipursky, visit https://disasteravoidanceexperts.com/

Now, we would love to hear about your experience!

What are the most common cognitive bias which affect you?

Which cognitive bias do you notice in business leaders when evaluating COVID scenarios?

Leave a comment below and let us know.