The fundamental challenge every manager faces is coping with risk. MBA programs and other management training offerings can help executives with this, but perhaps you should consider how a game you may already be playing for fun and relaxation can help you better grasp the nature of the uncertainties of commerce.
British poker champion Liv Boeree had been playing poker less than a year when she became the UK’s Poker Champion. She quickly learned how the overconfidence created by her early wins could subsequently trip her up, which in turn led her to reflect on the larger lessons of the game for the decisions we all must make.
In this six-minute TED video, she shares 3 lessons on decision making from a poker playing champion, including the real meaning of the “lucky or good” question, the risk of relying solely on our “gut feelings” and why adopting the practice of assigning specific numeric probabilities to the challenges you face can help you avoid disaster.CATEGORIES: Risk