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Decision Making

Master Decision Making with 40 free flashcards. Study using spaced repetition and focus mode for effective learning in Professional Development.

🎓 40 cards ⏱️ ~20 min Intermediate
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What is decision making?

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Decision making is the process of choosing a course of action from multiple options based on goals, evidence, and trade-offs.

Why is decision quality important?

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Better decisions compound over time, improving outcomes, team trust, and resource allocation.

What is the difference between a reversible and irreversible decision?

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A reversible decision can be changed cheaply later; an irreversible decision is costly or difficult to unwind.

Why should teams make reversible decisions quickly?

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Fast decisions preserve momentum when the downside of being wrong is manageable.

What is a decision criterion?

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A decision criterion is a standard used to judge options, such as speed, cost, risk, or customer impact.

What is a trade-off in decision making?

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A trade-off is the acceptance that gaining one benefit usually means giving up something else.

What is analysis paralysis?

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Analysis paralysis is a delay caused by overthinking options or waiting for certainty that will never fully arrive.

What is satisficing?

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Satisficing means selecting an option that is good enough for the situation instead of optimizing endlessly.

What is a decision memo?

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A short written document that states the choice, context, options, evidence, and rationale.

Why should important decisions be written down?

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Writing improves clarity, exposes weak logic, and creates a record for later learning.

What is first-principles thinking?

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Breaking a problem into fundamental truths and reasoning up from them instead of copying existing assumptions.

What is second-order thinking?

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Thinking beyond the immediate effect of a choice to its likely downstream consequences.

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