{domain:"www.qualitydigest.com",server:"169.47.211.87"} Skip to main content

User account menu
Main navigation
  • Topics
    • Customer Care
    • FDA Compliance
    • Healthcare
    • Innovation
    • Lean
    • Management
    • Metrology
    • Operations
    • Risk Management
    • Six Sigma
    • Standards
    • Statistics
    • Supply Chain
    • Sustainability
    • Training
  • Videos/Webinars
    • All videos
    • Product Demos
    • Webinars
  • Advertise
    • Advertise
    • Submit B2B Press Release
    • Write for us
  • Metrology Hub
  • Training
  • Subscribe
  • Log in
Mobile Menu
  • Home
  • Topics
    • 3D Metrology-CMSC
    • Customer Care
    • FDA Compliance
    • Healthcare
    • Innovation
    • Lean
    • Management
    • Metrology
    • Operations
    • Risk Management
    • Six Sigma
    • Standards
    • Statistics
    • Supply Chain
    • Sustainability
    • Training
  • Login / Subscribe
  • More...
    • All Features
    • All News
    • All Videos
    • Contact
    • Training

How Biases Can Ruin Our Decisions

The art of making a good judgment call

Naveen Khajanchi
Tue, 04/26/2016 - 13:58
  • Comment
  • RSS

Social Sharing block

  • Print
Body

Adam Grant, a professor of psychology at Wharton, admitted how wrong he was to pass up on the opportunity to invest in an online startup selling glasses. Because the company didn’t have a functioning website the day before its launch, and because other competitors were already operating in the space, he didn’t invest. He thought the startup’s procrastination showed a lack of commitment. But the company, Warby Parker, went on to be recognized as one of the world’s most innovative companies and was subsequently valued at over a billion dollars.

ADVERTISEMENT

In his later research into original thinkers, Grant found that procrastinators are more creative than planners, and “improvers” (those who enter an existing industry with an improved idea) have a lower failure rate than “first-movers.” The founders of Warby Parker weren’t dragging their feet; they were spending their time thinking about bigger issues, such as how to make people feel comfortable buying glasses online, not how to get online as quickly as possible. It didn’t fit the mold of what Grant thought an enterprising startup should be, but it worked.

 …

Want to continue?
Log in or create a FREE account.
Enter your username or email address
Enter the password that accompanies your username.
By logging in you agree to receive communication from Quality Digest. Privacy Policy.
Create a FREE account
Forgot My Password

Add new comment

Image CAPTCHA
Enter the characters shown in the image.
Please login to comment.
      

© 2025 Quality Digest. Copyright on content held by Quality Digest or by individual authors. Contact Quality Digest for reprint information.
“Quality Digest" is a trademark owned by Quality Circle Institute Inc.

footer
  • Home
  • Print QD: 1995-2008
  • Print QD: 2008-2009
  • Videos
  • Privacy Policy
  • Write for us
footer second menu
  • Subscribe to Quality Digest
  • About Us
  • Contact Us