Can good decisions result in bad outcomes?

Good decisions don’t always have a good outcome, just as bad decisions don’t always have bad outcomes. Sometimes bad outcomes happen to good decisions. And sometimes good things happen to bad decisions. Learning to distinguish between when you’re brilliant and lucky is the key to rapid improvement.

Does good decision guarantee a good outcome?

All real decisions are made under uncertainty. A decision is therefore a bet, and evaluating it as good or not must depend on the stakes and the odds, not on the outcome.”

What makes a decision good or bad?

A good decision is one that is made deliberately and thoughtfully, considers and includes all relevant factors, is consistent with the individual’s philosophy and values, and can be explained clearly to significant others.

What is a bad decision?

Selecting the wrong answer on a test is a mistake; not studying for that test is a bad decision. The mistake was something you did without intention; the bad decision was made intentionally—often without regard for the consequence. It’s easy to dismiss your bad decisions by reclassifying them as mistakes.

Why are decision making outcomes important?

Decision making is a central responsibility of managers and leaders. It requires defining the issue or the problem and identifying the factors related to it. Doing so helps create a clear understanding of what needs to be decided and can influence the choice between alternatives.

Why is it important to make smart decisions?

Making decisions is a fundamental life skill. Expecting to make perfect decisions all of the time is unreasonable. When even an ounce of luck is involved, good decisions can have bad outcomes. So our goal should be to raise the odds of making a good decision.

How are bad decisions made?

Most of our bad decisions occur because they feel comfortable and automatic. Our emotions steer us incorrectly. Our perception of time is inaccurate and skewed towards the present. Our internal sense of status colors how we view other people and ourselves.

What makes a great decision?

A great decision is the result of a good process, and that process must include an attempt to accurately represent our own state of knowledge. We will all make choices in our lives that have undesirable results.

Is it possible to make an effective decision without knowing the consequences?

If your decision actually achieved the desired outcome, it was actually an effective decision. It’s just that you may not have liked the consequences. This is not the same as suffering the effects of bad decisions. And hey, it’s just not possible to know all the potential consequences of any particular choice before you actually make it.

Why is ignoring the decision-making process in favor of outcomes?

Ignoring the decision-making process in favor of outcomes is problematic for at least two reasons. It is difficult (or even impossible) to determine all the decision’s outcomes. When making decisions, the person decides at a one-time point, and the decision’s results occur later on, sometimes after weeks, months, or even years.

What if things go wrong after you make a decision?

Some people consider that if things go horribly wrong after they have made a decision they evaluate the decision as a bad one. Understand that there will be consequences to any decision. Sometimes these can be unpredictable and unexpected. The universe has its own plans, as they say.