Tuesday, July 21, 2009

Important Questions to ask when facing tough decisions or risky decisions

Jim Collins writes three important questions to ask when "making risky bets and decisions in the face of ambiguous or conflicting data."   Here they are:
  1. What's the upside, if events turn out well?
  2. What's the downside, if events go very badly?
  3. Can you live with the downside?  Truly?

From Jim Collins book - How The Mighty Fall: And Why Some Companies Never Give In

(HT: Scott Hodge)

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