I wish I could say that after reading this post you will be able to play lottery with very high probability of winning. Instead information and tips provided here relate to something far more enduring such as human nature and how to make the best of it.
Nobel Prize–winning Israeli psychologist Daniel Kahneman conducted an experiment that ran a lottery ‘with a twist’. Half the participants were randomly assigned a numbered lottery ticket. The remaining half were given a blank ticket and a pen and asked to choose their own lottery number. The researchers then offered to buy back all the tickets.
Because lottery is pure chance, each ticket having the same probability of winning, all tickets should have the same value. No, the answer isn’t rational.
People who wrote their own lottery ticket number always demand at least five times more for their ticket. How is this applicable to leadership?
People support what they help create.
- The best leaders find ways to include include their employees in decision-making.
- They build a broad sense of ownership by asking for their input.
- They let them speak out about what they think is the right direction for the company by unleashing their creative ideas.
How, and do you include your people in the decision-making process?
The best practices show that if you want support as a leader, you need to get your people on board.
Image: Alamy, Demi Moore, Simon Baker in Margin Call, 2011