Decision horizon

The decision horizon is the range of time, consequences and data that we take into account when making decisions.

Definicja

A short decision horizon favors quick reactions and immediate relief, but may ignore delayed consequences. A long horizon helps see the effects of decisions over time, although it may increase complexity. Consciously selecting the horizon allows you to avoid both impulsivity and analysis paralysis.

Kluczowe idee

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Praktyka i życie

Before an important choice, write down the answer in three horizons: what gives you today, what will change in a month and what cost or profit will appear in a year.

Częste błędne rozumienie

It is a mistake to apply one horizon to every decision. Not every decision requires a decade-long strategy, but not every decision should be made for a momentary relief.

Pytania do autorefleksji

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Źródła

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