February 10, 2011 / 4:10 PM / 7 years ago

Management Tip of the Day: Use others to hone your judgment

<p>Traders watch a quotation board at the Dubai stock exchange, June 7, 2006. REUTERS/Asghar Khan</p>

BOSTON (Reuters Life!) - Reversing a bad decision shouldn’t be a reason for shame but a badge of honor, and tapping people you trust to give you input can help on the road forward, says Harvard Business Review.

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.

”Reversing a decision that isn’t working out can be a painful experience.

Perhaps the product you launched isn’t selling, or an ad campaign that you were behind is falling flat. Whatever the issue, accepting failure and changing direction can feel like a comment on your judgment.

In these situations, call on others to help you evaluate and redirect. Ask people with a variety of perspectives -- peers, direct reports, customers, family -- to give you input on what went wrong and what to do now.

The collective wisdom of this crowd can turn a bad situation into a winning one. Reversing a decision shouldn’t be a reason for shame, but a badge of honor in that you lived and learned.”

-Today’s management tip was adapted from ”The House that Judgment Rebuilt“ by Tom Davenport.”

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