New academic research is being published this week [1] about making good judgment calls in the CEO’s office. Owner/CEOs days are filled with judgment calls about people, products, purchases, and customers ad infinitum. Interestingly, one of the key ways to consistently make good judgment calls is to avoid bad judgment calls.

Here are some of the book’s key ideas from today’s USA Today cover story: [2]<?xml:namespace prefix="o"?> 

  • Great leaders seem to have a knack for escaping lapses of bad judgment.
  • Judgment traps often come disguised as opportunities; but opportunities are the lifeblood of a business.
  • Good judgments require the right information, followed up by good execution and rapid course corrections when mistakes occur.
  • Leadership is a constant process of course correction. [3]
  • Listen to the naysayers to make sure you haven’t missed anything.
  • Bad business judgments often result from misjudging other people.

[1] Noel M. Tichy and Warren G. Bennis, Judgment: How Winning Leaders Make Great Calls, Portfolio Hardcover, November 2007.
[2] Even good CEOs pick the wrong direction, USA Today, November 7, 2007, p. 1B.

[3] James Keyes, former 7-Eleven CEO, in ibid.

 
 

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