The Consequences of Bad Decisions
Bad decision making strategies lead to bad decisions and bad consequences. If you work in the business world, you’ve likely witnessed the consequences of bad decisions made by a company president or CEO. But you don’t have to work in management for your decisions to have a big impact. Just ask former Barings Bank employee Nick Leeson, whose poor decisions cost his company over a billion dollars and resulted in its demise.
Barings Bank was at one time the oldest merchant bank in London. However, you won’t find Barings Bank mentioned much today, except in history books. That’s because Nick Leeson (along with managers who demonstrated an astonishing absence of oversight) ended up bankrupting the 233 year old corporation through bad arbitraging, accruing the equivalent of $1.3billion US in debt over a three year period.
It’s not likely that bad decisions you make will lead to the collapse of a multimillion dollar corporation. However, the results of bad decisions on a person’s own business, individual life, and family can seem no less devastating.
We can learn better decision making strategies in many ways, but one way is by learning from poor decisions of others. In his article “Lessons In Decision-Making,” Rusty Wright examines decisions by US president John F. Kennedy Jr, both good and bad, to see what we can learn from a fascinating and dynamic political figure. Whether or not you are involved in the high-stakes world of business or politics, these same considerations can help you make better decisions in your day-to-day life.
Having trouble making a difficult decision? If, even after reading the linked article, you’re confronted with a daunting decision to make and need someone to talk with, please contact a mentor today to discuss it.
Upcoming online chats: Join us for daily online chats! One of our features will be “Making the Choice” on September 7 at 10:30 am EDT Please join us to discuss how first step to making a good decision is making a decision in the first place.
Tags: business, consequences, darren hewer, decision making, decisions, Men, success, Women, workplace
4 Responses to “The Consequences of Bad Decisions”
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this website is so bad doesnt help me at all go die
Blah, I am sorry to hear that you haven’t gotten any help from this website. You are the first one, to my knowledge, who has had a negative word to say about our sites. Of course, there are certain requirements to receiving help. (1) You must truly want it (2) You must have a positive attitude rather than a negative one (3) You must accept it rather than reject it.
If you would like to chat one on one with someone who will listen to you because he really cares, click on the Talk to a mentor button at the left bottom of this page. I pray that you get the help you are looking for.
Halb, it is pleasing to know that this article helped you because it is very true that bad decisions can seriously harm people, families, those you love and maybe work for. If you followed the link to Rusty Wright’s article, a key piece of advice in decision making is “Determine to stand for what is right, regardless of the cost” and pointed out that Jesus of Nazareth always stood for what He believed was right.
Let me repeat the author’s invitation that if you are facing a daunting decision and would like someone to talk with, please hit the Talk to a Mentor and someone will reply to you in confidence by email.