5 Steps to Learn from your Mistakes

Decision-making and Valuation

 
Decision-making and Valuation > Best Practices

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Anneke Zwart
Student (University), Netherlands
We all know that making mistakes is needed to learn from them, in order to do things better in the future. Indeed, people are often told to learn from mistakes, to maximize return on failure. But how exactly should we deal with moments of failure? Roese (2016) developed a mental protocol based on counterfactual thinking with 5 steps that one can use in such setback situations. It is a set of short, but structured questions you need to ask (yourself) to recover and learn from setbacks: UPWARD COUNTERFACTUAL In what way could the outcome be different in a positive way? It is important to focus on your own actions and the way those actions change in order to positively change the outcome. UPWARD COUNTERFACTUAL PART 2 What other path would have lead to a better outcome? The reason why two alternative paths need to be envisaged has to do with the prevention of hindsight bias: the tendency to start seeing the event as having been predictable all along (without an (...) Read more? Sign up for free

  Abid Bilal
Manager, Pakistan
 

5 Steps to Learn from Your Mistakes

In my opinion, the above elaboration is purely bas (...)

  Jaap de Jonge
Editor, Netherlands
 

How to Learn from Mistakes

Thanks Anneke for contributing this excellent summ (...)

  Eugene Laslo
Consultant, Hungary
 

How to Learn from Personal Mistakes

According to Scott Berkun, learning from your mist (...)

  Gandhi Heryanto
Management Consultant, Indonesia
 

Learning as a Return on Failure

See also the interesting article about Return on F (...)

  nan zeng
Project Manager, China
 

Lessons Learned

@Abid Bilal: No victim. No matter how difficult th (...)

  Victor Manuel Meneses Torres
Consultant, Mexico
 

Learning from Mistakes and Avoiding Mistakes

I would like to add another question to ask. Since (...)

  Jaap de Jonge
Editor, Netherlands
 

What Should we Learn to Avoid Mistakes?

@Victor Manuel Meneses Torres: I like your additio (...)

 

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