October 29, 2010 / 1:54 PM / 7 years ago

Management Tip of the Day: Ambidextrous decision making

BOSTON (Reuters) - The Management Tip of the Day offers quick, practical management tips and ideas from Harvard Business Review and HBR.org (www.hbr.org). Any opinions expressed are not endorsed by Reuters.

<p>A passerby looks at an electronic stock quotation board outside a securities brokerage in Tokyo March 1, 2004. REUTERS/Issei Kato</p>

”Do you rely on data and analytics to make big decisions or do you follow your instincts?

While analytical decision-makers are usually more likely to make the right judgment call, intuition and gut feel can’t be overlooked. In fact, many leaders have missed great opportunities because the data didn’t support the risk, and the risk was actually worth taking.

Great leaders adeptly use both inputs. If you are really good at collecting and analyzing data to inform decisions, find ways to check your data against a gut feeling. If you generally rely on creativity and an intuitive understanding of the customer, see if you can develop more analytic muscle.”

- Today’s management tip was adapted from “Learn to Make Judgment Calls On the Other Hand” by Tom Davenport.

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