There are many causes of wrong decisions. Here are my top ten reasons for the causes of wrong decisions. The exact opposite provides the opportunity for making the right decisions.

  1. Survivorship bias: This is about imitating other people’s successful decisions and overlooking decisions that have been unsuccessful. This can lead to a twisted reality.
  2. Lack of knowledge: This is about not knowing anything or knowing very little about a subject. Reaching out for a knowledgeable opinion is not considered.
  3. Prejudice towards people or factors: This is about a preconception that certain people or factors cannot provide the help, ideas, or expertise.
  4. Intolerance for reliable data or evidence: This is about closemindedness and refusal to apply reason or mindfulness. Reliable data is automatically placed lower on the ladder for consideration.
  5. Failure to act on known information: This is not about being prejudiced, but spitefulness in the face of substantive, known, and reliable information.
  6. Judgment of circumstances: This is about the lack of discernment or the absence of unusual clarity in seeing the ‘full picture.’ Scant information is used to make a decision.
  7. The select few mindset: This is about people thinking that they only may generate ideas and decide upon them.
  8. Low emotional intelligence: Emotion can lead to our worst decisions or our best ones. The difference is emotional intelligence.
  9. Critical thinking: Critical thinking is not self-regenerative. It rarely has natural attention because it remains hidden behind a myriad of problems. Yet, critical thinking can provide the answers to help problem solve and make informed decisions.
  10. The fear of loss is bigger than the desire for gain.

Marcus van Wyk

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