What to do when a decision turns out to be a mistake

How willing are you to admit that the decision you made was the wrong one?

It is not easy to publicly acknowledge that you have failed, especially when the rectification takes place in the business environment.

Within the work ecosystem, in fact, professional factors, status, seniority and hierarchy come into play.

Yet, knowing how to recognize that you have made a mistake is crucial: in business, one wrong choice can impact the daily working life of the ‘entire team and influence the Company’s results in multiple ways.

3 Surprising Ways to Improve Your Decision Making | Inc.com

It may happen, for example, that the objectives obtained are far from those you have set or that the person hired is not in line with initial expectations. Or again, you may have launched a new line of products for the flagship brand, but sales are far from what was expected.

As time goes by, you begin to realize that maybe the choice was wrong!

Doubt creeps into your mind, it gets almost pounding, but you are optimistic and carry on thinking that success is about to come. Not to mention that admitting the ’error in front of bosses and colleagues seems unacceptable.

And in the meantime, you’re wasting time and opportunities to really fix it, reversing the negative trend.

Here’s what to do when you realize that the decision made is the wrong one

Did you admit, first of all to yourself, that the decision you made with such conviction turned out to be a glaring mistake?

Well: you have just taken the first, very important step towards the ascent.

Here are the next steps to take according to Dorie Clark, professor at Duke University’s Fuqua School of Business.

1. Understanding the ’importance of acting quickly

It’s hard to accept that the right decision is to end something we’ve invested time and money in. This is the case, for example, of those who continue to pursue a work goal that does not give the desired effects, but are still waiting for an – unlikely – improvement. If the intended results don’t show signs of coming, it is much better for your career to accept this loss now, rather than persevere and persist.

2. Identify a solution

Having a clear vision of how to remedy the wrong decision is important to take action before the situation becomes irrecoverable. Is the hired resource not the right one to fill the assigned role? However, she may be willing to learn the necessary skills or turn out to be a key figure for tasks you did not initially think of.

3. Learn a lesson

Hasty decisions can turn out to be wrong. You may have overlooked precise signals, which should have represented a clear alert. Or maybe you pursued your goal to the end, even knowing it wasn’t the right thing to do. At this point, it is good to take time to understand what and where you went wrong: overcoming any personal prejudices and drawing up a strategic plan to overcome them, is crucial to avoid falling into the same mistake next time.

Critical Thinking and Decision-Making: Decision-Making Strategies

4. Share what you have learned

The simplest attitude in the face of failure is to hide bad decisions, like dust under the carpet, pretending that they have never been made. Taking responsibility, on the contrary, increases and strengthens the character and enriches the personal experience. For this reason, sharing with others what we have learned from the wrong choice is a sign of maturity and constructive spirit.

Everyone makes mistakes and, even if it is difficult to admit one’s failure in front of colleagues, seeking a valid remedy and intervening quickly can or mitigate the problem.

A great move to earn the respect of others, turning a misstep into an opportunity.

What to do when a decision turns out to be a mistake

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