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Emotional intelligence and Better Decision Making

Emotional Intelligence or the understanding of ones emotions is useful in all aspects of life and relationships. This presentation describes Emotional Intelligence as it relates to decision-making.

We will look at how Emotional Intelligence can help us make better decisions even under pressured circumstances.

How we feel in the moment will affect the decisions we make. If we are happy we may give concessions during negotiations, sadness may mean we lose interest and somehow sabotage negotiations; anger may lead to stubborn behaviour where we won’t concede ground. Fear may mean we put off decisions. Shock may make us stop taking risks, even measured risks.

How can we know and perhaps counteract these emotions when we make decisions?

By understanding a little more about Emotional Intelligence.

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Emotional intelligence and Better Decision Making

  1. 1. Emotional Intelligence: Better Decision Making Presented by: Mick Lavin MBA, Dip. Executive Coaching
  2. 2. Emotional Intelligence Know thyself Socrates (ca. 400 BC)
  3. 3. What is Emotional Intelligence? • Simply: the awareness and understanding of emotions • How does this help us? – Being aware of our emotional state gives us options to consider our responses – Understanding emotions in others helps us know what may be happening in the other person
  4. 4. What are Emotions? • Typically they are a response to events of concern, triggering physiological and psychological changes in the person that motivate behaviour. • How are you feeling? – Happy, Sad, Angry, Frustrated, Satisfied, Shocked, Thoughtful, Surprised, Fearful, …
  5. 5. The Thinking Mind
  6. 6. Triggers: Thoughts / Feelings / Behaviours
  7. 7. Emotion Trumps Judgement • Rotman school of management research suggests that people that are Emotionally Intelligent are protected from biases based on their ability to recognise where their emotions originate – a frustrating drive to work for example.
  8. 8. Why is it important that we understand Emotional Intelligence? • A 2008 study published in the Journal of Consumer Research showed that emotional intelligence could play a role in decision- making by helping people realize their emotions can sway the choices they make.
  9. 9. What does it all mean? • Our emotional state plays a huge part in our ability to make decisions • We suffer from bias • We have trouble making sound decisions when stress hormones are released into our system • And we are never really sure the decisions we make are good decisions?
  10. 10. Understanding! • Let’s find out a little more about how Emotional Intelligence can help us out!
  11. 11. Who defined Emotional Intelligence? • Three main schools of thought: – Mayer, Salovey, & Caruso: MSCEIT – ability based model (Personality) – Daniel Goleman, Richard Boyatzis: (ESCI) – ability and trait model (Personality & Cognitive) – Reuven Bar-On: EQ-I – ability based model (Personality)
  12. 12. Goleman’s Definition • Daniel Goleman defines EI as 12 (or 19) competencies in four distinct areas of ability: Self-awareness • Emotional self-awareness Social awareness • Empathy • Organizational awareness Self-management • Emotional self-control • Achievement orientation • Positive outlook • Adaptability Relationship management • Influence • Coach and mentor • Conflict management • Inspirational leadership • Teamwork
  13. 13. Recognising your Mood State: Self-awareness • What frame of mind are you in? – Happy? – Sad? – Confident? – Confused? – Frustrated? – Angry? • What bias will you bring to the negotiation?
  14. 14. Managing your Mood State: Self-management • Am I happy, sad, anxious, angry, engaged, disengaged, etc.? • Self-management competencies • Emotional self-control • Achievement orientation • Positive outlook • Adaptability
  15. 15. How can Emotion Intelligence effectively assist in Decision Making? • By helping us to better understand our triggers and manage automatic reactions • By enabling us to STOP and choose a ‘response’ • By helping us better assess our mood state and recognise this in others • By enabling us to respond to new opportunities • By helping us stay optimistic
  16. 16. Nutrition, Mood, and Emotions • Blood sugar levels impact your ability to manage your mood • Eating the right foods, in the right way, at the right time can help us in better managing our Emotional Intelligence
  17. 17. Tips! Making Better Decisions • Sleep • Caffeine • Meditate • Reflect / Journal • Understanding physiological/bodily signs • Understanding Emotional states within yourself • Understanding Emotional states within others • Understanding your values
  18. 18. Better Decisions • We make better decisions when we act on information from our feelings, our instincts, and our intuition, as well as on information coming from our rational intellect. It is our emotional brains, after all, that allows us to access memory and assign weight or preference to the choices we face at work and in our personal lives. It is our Emotional Intelligence that guides us in controlling or accessing emotions when we must adapt to change, get along with others, or deal with stress. Performance and leadership in any organizational setting are both influenced by EQ • Source: The Science Behind Emotional Intelligence, Emily A. Sterrett, Ph.D. 2014, HRD Press, Inc.