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Check Your Gut: Intuition and Its Limitations
Mental shortcuts are valuable because it would be incredibly demanding, almost paralyzing, to process every piece of information – significant or trivial – in order to make a decision. Our use of mental shortcuts presents a double-edged sword to intuitive decision making. On the one hand, we need these mental shortcuts to navigate decisions efficiently when we cannot possibly have all the information. On the other hand, relying too much on unconscious processes leaves us prone to biases in the important decisions we are undertaking. As leaders, we all have probably used intuition to make some important decisions. If we know that intuition is subject to bias then we may ask ourselves, how can we leverage our intuition while ‘guarding’ against biases?