Bring More Discipline to Your Decision-Making

In this episode of HBR On Leadership, Corey Phelps, Dean of Penn State's College of Business, discusses with HBR IdeaCast host Kurt Nikish common cognitive biases that hinder effective problem-solving. Phelps introduces the "4S method" – State, Structure, Solution, and Sell – to bring structure to problem-solving. He uses the example of Ron Johnson's tenure as CEO of JCPenney to illustrate the dangers of analogical reasoning and the expertise trap. Phelps also touches on the importance of collaboration, understanding the cost of solutions, and the role of design thinking in problem-solving, and offers advice on how to demonstrate problem-solving skills to potential employers.