We like to think that for our strategy work, we will have plenty of time and resources. Armed with both, out of the 10s or 100s of options we have on the table, we will pick the best one.
In this article, by Verena Stingl, Joana Geraldi and Josef Oehmen, we will make the opposite argument. Not only do we not have much time or resources available to make decisions, we also should NOT try to pick the best option. Instead, we should use simple rules – quick and easy decision-making shortcuts – to eliminate the worst options.
When we observed the executives we studies, we found that they used three sets of criteria to eliminate options:
- Clear knock-out criteria
- Ambiguous knock-out criteria
- Combinatory knock-out criteria
You can read more about the three categories of simple rules and how to make them work right here.