So What Happens After You’ve Made the Decision?

You’re likely only 1/4 of the way there.

In the first few years after I started our firm, I was approached about teaching a couple of classes, in finance and management, at a local university.
Although I was told I could use multiple choice in my quizzes, I never did.

“Why?”, I was asked. Because in the real world, a) problems usually don’t have a nicely delineated set of answers (plus, isn’t that what we’re supposed to challenge students with — to come up with potential solutions??), and b) you typically won’t know if you’re right until weeks, months, or even years later. So, “Am I right?” is the wrong question. “Why do you think you’re right?” is the more proper one.

Initially, and not surprisingly, my pedagogical approach was not a hit with students. But by the end of the term, though, many appreciated the challenge to think differently.

What I wasn’t able to get into very deeply was the fact that the “answer” to a challenge is only about 1/4 of the way to the real solution.

The remaining 3/4 of the answer lies within, “Who can actually implement your answer?”

Even with Google’s and ChatGPT’s ability to now answer the “how” to a question, it’s still up to us to implement it.

Many a solution have failed because the answer did not incorporate the questions: Who will implement it? And are they skilled enough to do so?

It’s wonderful that we may know what to do. But if the implementation fails, what’s the point?

So the next time you face a question and ultimately relish the fact that you, Google, and/or ChatGPT have figured it out, tell yourself you’re only 1/4 of the way there. Then ask yourself, who will implement it? And, can they do it?

If your answers to those two questions aren’t satisfactory, you will have to, in the current language of AI, continue to iterate until you develop a more optimal solution.

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