Have you ever looked back on some decision or other and thought “What a BAD decision that was!”? It could have been a food choice, a career choice, a last word or a clothing purchase. It might have been a personal decision that only you had to put up with or it might have had farther reaching effect that impacted others.
I think the first consideration would be the mood in which the decision was made. If there was something negative going on like revenge or spite, yup! probably a bad decision. If there was alcohol or some other mind altering substance affecting your decision-making processes, then yup! possibly a bad decision.
I was having this discussion a number of years ago with a friend who had spent a lot of his career as a team lead. He clarified some of the above-mentioned aspects of my decision and then informed me, “You know what a bad decision is, don’t you? Best Available Data.” At that time, in that moment, given the information you had and the players involved, it was very likely the RIGHT decision! As time goes by and we gain more information or better understanding, the classic adage “Hindsight is always 20/20” usually comes to mind.
The last 10 years have been a time of incredible economic instability. We may have made the decisions around our investment choices or we may have trusted a professional. Most of us have lost money that was hard-earned and carefully budgeted. We second guess ourselves with each passing month as the statements come through our mailslot. It is so easy to look back on decisions and think of many ways they could have been fine-tuned or modified. It is at these times that you really must review what led to the decision you made…. and remember Best Available Data!
Look at the world economy. Greater minds than yours and mine have lost more than you and me put together!
Photo Credit: http://www.flickr.com/photos/proimos/4199675334/