How the six hats technique can help individual make better decisions

1. Which of the Six Thinking Hats do you use most often when making a decision? From your experiences, tell us two advantages you have given yourself when you have managed your emotions by looking at a challenge from different perspectives (such as the Debono model) while making decisions?

a. From my experience, I find myself using the white hat associated with data analytics much more frequently. I personally have recently looked into the stock market and how data can be used to make better informed decisions. I find that my thinking has steadily shifted to much more data-oriented decisions associated with making sound conclusions. The data perspective has been beneficial as it helps me to stay grounded from making decisions based purely on greed.

b. The two advantages of managing emotions is that you avoid rash decisions without regard to data. Another advantage associated with using the Debone model is that it can be adapted for the particular decision being made. The Debono method is also rational as it considers both the upside and downside of a particular decision. This is important as it provide controls from being overly positive and overly negative.

2. What do you see as the main difference between a successful and an unsuccessful decision? Tell us about a decision you made in which time was a factor in deciding the level of success, from your point of view.

a. The main difference between a success and unsuccessful decision is often emotion and lack of analytical rigor. As noted earlier, I am personally investing in the stock market. Here time is a critical factor as it relates to price and returns. Stocks typically rise particularly quickly and as a result, cause individuals to make rash decisions to avoid missing rapid rises in price. The emotion of greed can ultimately cause people to make unsuccessful decisions chasing trends that have already passed.