Effective complex business decisions are threatened by many potential biases When it comes to (very) complex business decision making, we are not only confronted with the risk of ineffective interactions in meetings, but also with the risk of falling individually and collectively into different decision making biases. These biases are now well documented in the recent field of behavioral economics1. So it is also proven that the following subconscious biases do directly impact many, many business decisions2:
- Lack of meeting structures creates weak decision making processes Few subjects do trigger a quasi unanimity in business and one of them is: meetings are too often a waste of time! Just observe your next meetings and you will rapidly see that the reality diverges frequently from generally accepted good practices: Good meeting practices Frequent meeting reality participants remain on one subject until some agreed type of closure participants change subject before any apparent closure group clarity on “diverging” (to brainstorm & share ideas) versus “converging” conversations unclear mix of “diverging” and “converging” (to take decisions) conversations air time captured by one/few participant(s) air time actively distributed to everybody almost every agenda item gets addressed many agenda items are delayed to next meeting(s) everybody can speak without being interrupted interruptions do happen Daniel, the Finance director of a large European country organization of a global software company, was looking at the yearly employee survey for his department.