INTRODUCTION

An executive I know believes that leadership, when all is said and done, is simply making better decisions than your competition. When asked how people can best develop this capability, he smiles and says, “Make a lot of bad decisions that don't kill you.” The fact that good judgment is built on bad judgment means that you learn primarily as result of your experiences—particularly your mistakes. Over time, you develop better judgment as you live with the outcomes of your choices. You also observe other leaders and extract lessons from their decision-making process. The full truth, however, is that experience is no panacea. You may not make the same mistakes twice and will most likely make fewer mistakes as your career progresses—but ...

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