Either for individuals or businesses, contemporary intelligence for decision-making is contextual and multidimensional.
Intelligence is the word we use to describe mental ability. Intelligence is the capacity to understand and apply wisdom to the knowledge we are exposed to. Out intelligence with regard to any given type of information is a function of our capacity to recognize and interpret patterns, and our consequent ability to use the perceived information for making sound judgments or effective decisions. High mental ability is important to make effective decisions. And decision intelligence can be developed via practicing.
The real critical thinkers are good decision makers: Critical thinking has been described as “thinking about thinking.” Critical thinking is the intellectually disciplined process of actively and skillfully conceptualizing, applying, analyzing, synthesizing, and evaluating information in order to make effective decisions. Only very small percentage of the population are truly critical thinkers. Independent thinking and creative thinking are important ingredients in critical thinking. By following conventional wisdom or others' thought without independent thinking, it surely has blind spots in such thought processes; without creativity, you can't connect unusual dots and think critically. Most decisions on problem-solving are based on “logic” which is a key component of the process of critical thinking generally. Critical thinking as an iterative thought process leads to a series of refinements based on learning and experience. In the business world, at least, you can’t always wait for the “best” decision to emerge. You have to make the best decision you can, based on a sound process and have the gut to admit when a mid-course correction is in order. Critical thinking is crucial for making decisions and dealing with uncertainty and complexity of today’s digital dynamic; it also helps to challenge the conventional wisdom, identify gaps, able to imagine or remain open to considering alternative solutions.
High EQ is crucial in making fair judgments or sound decisions: Emotional Quotient in its simplest form is being aware of our emotions and managing them to get best out of the situation. EQ becomes even more crucial for making effective decisions and leading today’s business dynamic with uncertainty, ambiguity, and complexity. High EQ helps you have an open mind, minimize biases, be cautiously optimistic, be an effective listener and be more creative. High EQ is important in making sound judgments, strategic decisions, and driving the organization’s long-term success. IQ is about the ability to reasoning and cognitive skills which are important for the digital knowledge workers today, but EQ plays a crucial role in managing emotions and avoiding many thinking pitfalls such as bias, extreme thinking, hubris, negativity, etc. A well-blended high “IQ+EQ” digital mind can mix the brainpower and emotional power in making sound decisions.
A synthetic mind to improve decision maturity: Decision-making is an analytics-synthesis continuum. Analysis is about understanding the thing by examining it as parts. Synthesis is about understanding a thing by examining it as a whole. Either for making decisions or solving problems, in any case, analysis is necessary to have knowledge of an argument, a situation, a problem. Synthesis is necessary to summarize understanding of it and to transfer information about it to others without “lost in translation.” They are the two ends of the line between understanding the parts and understanding the whole, very different, but also equally and inextricably linked to the process of understanding the problems. They are invaluable intellectual processes for decision-making.
Either for individuals or businesses, contemporary intelligence for decision-making is contextual and multidimensional. Decision Intelligence is not just about IQ or EQ, there are strategic intelligence, creative intelligence, system intelligence, judgmental intelligence, paradoxical intelligence, social intelligence, etc. Digital leaders and professionals must keep learning to sharpen multidimensional intelligence for making sound judgments and effective decisions cohesively.
Decision Master Book Summary
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Decision Master Introduction
Decision Master Chapter 1 Decision Intelligence
Decision Master Chapter 2 Decision Principles
Decision Master Chapter 3 Digital Decision Styles
Decision Master Chapter 4 Decision Pitfalls
Decision Master Chapter 5 Decision Maturity