Making good decisions as a product manager

While this article was originally aimed at product managers, the author concedes that it is relevant to any role.

Essentially, it argues that the key to good decision-making is not just understanding what the correct decision would be, but also how quickly you should make each decision. In other words, you need to know which decisions to agonise over, and which to make quickly.

You can be right 99% of the time, but if you’re wrong the 1% of times when it really matters, you’re not an effective decision maker. The takeaway is that when the stakes are high, you should work a lot harder at making the right decision.


Your strategy should be a hypothesis you constantly adjust

Why do strategies often “break down in the execution stage”? According to this study, it is often because big companies fail to learn from new information.

Staff on the ground will often fail to raise the alarm for fear of being blamed for failing to execute the strategy correctly. But often, the flaw was in the plan itself.

The Volkswagen diesel emissions case is one stark example:

VW’s culture — specifically, its executives’ lack of tolerance for pushback from people lower in the organization — seems to have played a major role in its diesel-emissions fiasco… VW leaders lost out on the opportunity to revisit and update the strategy. Meanwhile, engineers had developed software to fool the regulators — postponing the inevitable.

This article suggests taking a ‘strategy-as-learning’ perspective instead. It’s an approach that reminds me a lot of Lean UX methods.