We’ve become a society of snap judgments.
We often guess at the right answer. We frequently rush important decisions. We sometimes speak or act before thinking.
Too many business leaders jump to the first conclusion, without evaluating all the evidence. A lack of meta-cognition — thinking about thinking — also drives overconfidence.
When Thomas J. Watson Sr., arrived in 1914 at what was then the early beginnings of IBM, he quickly appropriated the company motto, “THINK,” that he had adopted as the sales manager at National Cash Register Co.
He believed that encouraging everybody to be a thinker, from the assembly line worker and engineer, to the sales person and the secretary, was what would bind IBM together.
“The trouble with every one of us is that we don’t think enough. Knowledge is the result of thought, and thought is the keynote of success in this business or any business,” said Watson.
He decided that THINK would be the company’s slogan, and ordered a subordinate to post a placard with “THINK” printed on it in bold letters on the wall.
THINK signs cluttered the desks and walls of countless IBM offices; and many IBMers carried pocket-sized notebooks with “THINK” embossed on the cover.
So if thinking is a valuable and essential element of success, how can we do it better?
Helen Lee Bouygues is a former McKinsey & Co. partner and has served as an interim CEO, COO and CFO. She writes in the most recent HBR Magazine that critical thinking is a learned skill and offers these three exercises to improve critical thinking:
Question assumptions. You can’t question everything, but question the big things. When discussing company strategy, be sure to ask basic questions about your beliefs: How do you know the market wants your product or service? What does the research say about market trends? Have you taken time to explore your customer journey? Consider alternatives: What if our clients and markets changed? How will you handle competitors and disruptors when they emerge? These sorts of questions help hone your thinking.
Reason through logic. Pay close attention to the logic of your arguments and actions. Is your argument supported by evidence and does it arrive at a sound conclusion?
Diversify thought. Resist groupthink. When everyone thinks the same, we become more rigid in our thinking, and less likely to change our beliefs on the basis of new information. Solicit different viewpoints, opinions and ideas. And don’t do it in large groups, ask for individual notes or emails that allow for individual input without group influence.
It’s tough to slow down and think deeply about problems and strategies. It can be difficult to practice and enforce.
But great critical thinking is the best way to solve difficult challenges and chart the right path. Think more to win more.
Have a great week.
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