Strategic decisions: When can you trust your gut? | McKinsey & Company

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Source: Strategic decisions: When can you trust your gut? | McKinsey & Company

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Strategic decisions: When can you trust your gut?

Nobel laureate Daniel Kahneman and psychologist Gary Klein debate the power and perils of intuition for senior executives.

For two scholars representing opposing schools of thought, Daniel Kahneman and Gary Klein find a surprising amount of common ground. Kahneman, a psychologist, won the Nobel Prize in economics in 2002 for prospect theory, which helps explain the sometimes counterintuitive choices people make under uncertainty. Klein, a senior scientist at MacroCognition, has focused on the power of intuition to support good decision making in high-pressure environments, such as firefighting and intensive-care units.

In a September 2009 American Psychology article titled “Conditions for intuitive expertise: A failure to disagree,” Kahneman and Klein debated the circumstances in which intuition would yield good decision making. In this interview with Olivier Sibony, a director…

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What Do You Mean By “Wisdom”?

It’s an important virtue in Buddhism.

It’s one of the Three Trainings, along with Virtue and Meditation.

But, Wisdom is not always well defined. We sometimes blur the line between wisdom and knowledge, or between wisdom and intellect. These things aren’t the same.

But What is Wisdom, Really?

To me, wisdom means an intuitive understanding of the Dharma.

We can understand concepts like impermanence, emptiness, and interconnectedness on an intellectual level without so much difficulty. It’s easy to memorize and recite the four noble truths or our favorite sutras, but memorization isn’t wisdom. If it was, then the directions for becoming wise would be simple and straightforward. It’s easy to say that “ego is an illusion.” but to really understand that in our minds is something different.

Understanding interconnectedness is knowledge. Wisdom is being interconnectedness—understanding and acting on our interconnectedness in everything that we do. It is much easier…

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