Friday, 14 July 2017

Podcast: Good Decision, Bad Outcome

Was Theresa May right to call the general election? Peter, Nick and Fraser discuss when good decision making can result in bad outcomes.

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1 comment:

Alan Hotchkiss said...

We live in a transactional world where, often we are only going to make decisions once. On balance, letting probability work its magic over a large number of repeated events, the process of decision making and its eventual most likely outcome will shine through.

However, with the decision of the general election, the decision was not complimented by the execution of the plan associated with the decision. But we look at the unique outcome, and we look to throw everything under the bus.

By having a poor understanding of risk, and probable events, we fail to see the difference between good luck and good management (and bad luck and bad management) too often