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Thinking fast, slow and driving decision making imperatives for business leaders

Source | | Debleena Majumdar, ET Online

In the seminal book, “Thinking Fast and Slow,” Nobel prize winner and author Daniel Kahneman spoke about Systems 1 and Systems 2 thinking (which had been originally proposed by two psychologists) as part of the decision making paradigm.

Systems 1 thinking helps to address immediate actions and decisions which happen almost automatically and instantaneously. Systems 2 thinking focuses on more deliberate and long term actions and decisions.

As a leader, both types of thinking are required for taking decisions. In fact, decision making is one of the key requirements for a leaders’ role. But in reality, it remains one of the hardest things to do and it is only getting harder with the choices the leaders face today.

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