Board Decision – A Case Study
Recently I spoke with a board chairman about a decision that board had made, and regretted. Several of the members now felt it had not been the best decision at the time, and should be reversed if the opportunity came.
I was curious (as usual) about the process that had led to this decision, taken unanimously, but now in doubt. How did that board of intelligent people, deliberating carefully, get itself into this position? What lesson could they, and others, learn about making better decisions?
We concluded that the board had allowed itself to be unwittingly caught up in what has been called the “illusion of confidence”. It’s one of those cognitive biases we come equipped with; they take a lot of self-awareness to detect and manage.
In this case, one of the directors had special charge of the matter in discussion, and had expressed a view with a very strong level of confidence and conviction. We have a bias towards giving undue weight to opinions that are expressed with great confidence, and that’s exactly what happened. The other directors allowed themselves to be swayed by the style, more than the logic.
Here’s a much-neglected tip for good decision-making: attend to the process just as carefully as you do to the subject of the decision.
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Thanks Iain. This session has created the collaboration and discussion we needed…
Iain’s assistance was invaluable in improving our corporate governance policies and procedures. He took the time to understand the business, was responsive to our needs and a pleasure to work with. I would have no hesitation in recommending Iain and Upland Consulting.
Loved the slogan/point of difference: Head Heart and Bottom Line. Passionate and a good listener
I have worked with Iain for the last 6 months through his Peer Magic programme. His business knowledge is first class and I look forward to working with him into the future. Highly recommended.
Iain brought a new dimension to our company. Lifting our board performance away from the coal face with his knowledge of corporate governance, management skills, and systems development whilst maintaining a strategic 40 paces view. Iain has a very valuable skill set that can assist you out of the box.
Thank you so much for the facilitation, [it] was exactly what I expected from you, a safe and open forum to discuss and work through the process. We have a great starting point to get moving forward.
Iain at Upland Consulting specialises in Business growth. Through working with him I have developed more clarity regarding why I do my work at Horse Vision, where to go next with it and what the needs of my clients are.
Iain is a highly talented individual able to lead a team by being part of the team. Leaders need to surround themselves with honest straight-talking advisors that are able to help lift an organisation's performance with insight, balance and with humanity - Iain is perfectly suited to deliver such support. He is one of only a few individuals that I would recommend without hesitation.
Easy terminology and thought-provoking delivery
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Professional and valuable content that is very relevant to my role as a board member.
Very practical examples. Enough flexibility to allow us discussion. Excellent and relevant to our board.
Iain's facilitation invites participants to reflect on their own business, identify what is required, and find the motivation to more forward.
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Upland Consulting provided a friendly and efficient service. Added to this, the end product was on time, on budget and included the rare combination of being practical and innovative.
Wisdom @ work.
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I found [it] very easy to understand, topics allowed me to put in perspective [my work] on this board.
Iain's presentation was very thorough and informative. I took away lots of useful information.
Great talk, Q&A in particular.
Iain's practical approach to delivering his material makes the workshop very enjoyable. He's walked the road of business management before, so his advice comes from the heart, and is totally backed up by logic.
I love that Iain focussed on the importance of believing in what you're doing.
Thanks Iain. This session has created the collaboration and discussion we needed...
Iain conducts a very informative and engaging session. Inspirational and thought-provoking: many thanks.
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Well authored and simply explained concepts.
Iain is an absolute pleasure to work with, as he is not only professional, responsible and efficient, but also very friendly and personable.
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the method of presentation and... discussion was excellent. The content was very relevant and a bit of an eye-opener.
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The presentation was very well delivered and relevant...
I can see where a number of my clients could benefit from this [Peer Magic] programme in collaboration with my industry.
A great interactive session to look at and work on my business.
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Strengthened my governance knowledge.
Iain Massey consults in business succession and exit planning. He is thoroughly professional and very knowledgeable on this complex topic. In my experience Iain delivers great value, great service and great results.
Thank you. Lots to think about, lots to re-motivate.
I found it extremely helpful and look forward to learning more. Very well explained, thank you.
Raised many issues that need addressing and combining into a risk management plan
Iain poses questions that get his audience talking about issues that are really important...
Good to sit down with both board and senior staff to explore and air concerns... Facilitation was excellent.
Two excellent presenters [the other was Mike Ansell], who worked well and encouraged audience participation
Very interesting seminar. Thank you.
Taking time out to reflect, learn and understand our business... was really worth it. Always take time out to work on the business, not just in it. Highly recommended.
Very informative and something I have been planning on doing. No excuses now!
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Time well spent.
Iain's professional and guiding manner enabled a valuable interactive workshop.
Interesting and insightful presentation.