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‘Fail less often’: Executive finds 3 drivers of bad business decisions

(alphaspirit / Depositphotos.com)

(alphaspirit / Depositphotos.com)

Robert Sicina, an executive in residence at American University’s Kogod School of Business, has been studying business failures to learn why companies don’t succeed.

Sicina, who has 30 years of experience in senior executive positions at Citibank, American Express and some entrepreneurial endeavors, believes he has identified the three key drivers of decision-making failure: irrationality, complexity and uncertainty.

His first book, “Learn from Failure: The Key to Successful Decision Making,” explores why people fail in decision making and how they can learn from those failures.

The book provides action steps for effectively dealing with each of the three failure drivers, with real examples of failed decisions. In addition to Sicina’s own brushes with failure, he gives examples of major failures at Blackberry, Microsoft, AOL/TimeWarner and Enron and other organizations.

“The book is peppered with real-life stories that are always interesting and sometimes amusing,” Sicina said in a statement about the book. “If you do everything I say, you’ll still fail,” he cautions. “But you’ll fail less often.”

Sicina has 30 years of experience in senior executive positions at Citibank, American Express and various entrepreneurial endeavors.

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