🧩 The video discusses a class exercise where students had to turn $5 into the most money in a short timeframe.
💡 The winning team didn't use the $5 and instead sold the rights to their presentation to a company.
🔑 Challenging constraints is important in decision making to maximize opportunities.
🔑 The speaker shares three steps to better decision-making.
🚦 The first step is to challenge the constraints and consider what barriers are holding you back.
🔍 The second step is to reflect on the decision-making process and identify what went right and wrong.
🚧 The third step is to gather diverse perspectives and insights to make more informed decisions.
🔑 Embrace a pre-mortem approach to decision making by considering potential failures before taking action.
📉 Many professionals focus only on envisioning success and neglect brainstorming potential failures.
🐍 The story of the British government offering a reward for killing Cobras resulted in unintended consequences.
🔑 The concept of the Cobra effect illustrates how the apparent solution to a problem can make it worse.
🔑 Embracing a pre-mortem can prevent failures and improve decision-making.
🔑 Challenging constraints and contemplating failure are important steps in the decision-making process.
🔑 The first step to better decision making is thinking outside the box.
💡 The second step is to check the basics and not overlook small details.
⏳ The third step is to complete the basic tasks before making a decision, even under pressure.
🛫 An ordinary flight turned into an emergency landing on the Hudson River due to a bird strike.
✈️ The pilot, Sully Sullenberger, made the decision to land on the river, considering the constraints and the safety of the passengers.
🌊 Sully's decision-making process involved assessing the feasibility of a water rescue in freezing temperatures.
✈️ Capt. Sullenberger's decision-making process during a plane landing saved all 150 people on board.
🔍 Before making a decision, challenge the constraints and think big and different.
💡 Embrace a pre-mortem to anticipate mistakes and formulate the correct course of action.
🔎 Check the basics to ensure small details don't hinder success.
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