'Everything in war is simple, but the simplest thing is difficult.'
- Carl von Clausewitz
The more business education about decision making, the worse the decisions.
The more complex the decision-making environment, the more need for simplicity of decision making process and tools.
These were the conclusions from a PhD thesis.
The participants in the experiments who were given a simple objective - make a profit - made the best decisions. Those who made the worst decisions were the ones who were distracted by information about their competition and the need to maintain market share.
The participants who were given simple tools to work through their decisions had the flexibility to adapt to dynamic circumstances.
Good decision makers check their progress against their Widget as their True North.
In 1983 John Bertrand and the crew of Australia II were down 1-3 in the seven race Americas Cup final. This was his response at a press conference:
'Basically, nothing has changed. After Sunday afternoon, we had to win three boat races. Today we still have to win three boat races.'
He held his nerve and Australia won the next three races and the Cup.
Leaders don't measure their progress by where they are with respect to anyone else. They make good decisions and the rest takes care of itself.