Gut instincts are the real waste of time

I WAS reading an article produced by Gayle Avery, a Professor of Management at the Macquarie Graduate School of Management.

She said that some people take a considered approach to decision-making - but most managers are "cognitive misers".

They spend as little energy as practically possible in making most decisions. After all, time is money! We can't spend hours and hours deliberating over a decision.

Recently a client of a sizable business told me all his decisions are based on "gut instinct". I actually think there is a place for the "gut" decision. After all we hear plenty of times - "What's your gut telling you?" Of course this is simply our limbic brain processing a decision.

Despite what people say the key to relying on your gut instinct as a practical or emotional filter often complements the other facts of the decision.

Often we tend not to spend enough time on the downside and risk mitigation and focus all or most of our energies on what are the benefits if "this thing comes off"!

Another problem: we have access to too much information - our filtering systems work extra hard, thanks to emails, smartphones, iPads, social media, and on and on!

Today's research suggests that the old style command-and-control leader, where "it's my way or the highway", may not be the way to go. Consultation delivers the best outcomes - with those who have the ability and competence to contribute.

Topics:  opinion small business sothertons

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