Business Review - “Better Judgment, Better Results”
Scott Mautz, CEO of Profound Performance, shares six elements that contribute to better business judgment to help companies succeed.
THE KEY TO GOOD BUSINESS RESULTS IS MAKING BETTER DECISIONS, AND BETTER DECISIONS COMES FROM BETTER JUDGEMENT, ACCORDING TO SCOTT MAUTZ, CEO OF PROFOUND PERFORMANCE. MAUTZ SHARES SIX ELEMENTS THAT CONTRIBUTE TO BETTER BUSINESS RESULTS.
“So often we leave decision-making to the last minute to patterns, and we assume that we're born with the judgment, and we don't understand that you can actually improve your business judgment.”
“The first element is to listen carefully and be critical of everything you read. Pay attention to what's said and not said, what's written and not written…spotting, discrepancies and inconsistencies in the data.”
“Second, you have to seek to contradict your opinion, not validate it. You want to find people who will contradict your opinion.”
THE THIRD ELEMENT IS TO BE AWARE OF THE PITFALL OF FAMILIARITY. MAUTZ SAYS THAT HABITS AND COMPLACENCY SHOULD NOT REPLACE CURIOSITY AND CREATIVITY.
“The fourth element of developing good business judgment is to know your biases and to stop them cold.”
“The fifth element is to ask what's the better third option. So often we're presented with two choices. One is the recommendation that the presenter really wants us to follow. And then the second one usually is a foil, one filled with problems. So that it'll make the first one look better.”
“The six way is to just ask how executable is the strategy or the idea that I'm faced with here. Good judgment is one of the most important skills that you can have in business and in life.”
“BUSINESS REVIEW” IS A PRODUCTION OF LIVINGSTON & MCKAY AND THE HANKAMER SCHOOL OF BUSINESS AT BAYLOR UNIVERSITY.