Jamie Dimon: CEO of America’s biggest bank Jamie Dimon on why making decisions on a Friday is a bad idea: ‘They never …’ |
Jamie Dimon, CEO of America’s biggest bank JPMorgan Chase, has a simple message for anyone planning an important decision: don’t do it when you are tired. Speaking in an interview with NPR’s “Newsmakers” recently, Jamie Dimon said, “Making big decisions on a Friday when you’re tired is a really bad idea.” Dimon’s advice is linked to what experts call decision fatigue. By the end of the week, people often make many decisions without enough time to rest, which affects their thinking.Thomas Roulet, a professor of organizational sociology and leadership at the University of Cambridge, told Business Insider that Dimon’s view is right. He said that “cognitive resources — a CEO’s ability to juggle and process all information they have to make the right decision — are depleted by Friday.” He added that people may also rush decisions as the week ends, without having all the information or time to consult others.“As a CEO, if you have taken decisions throughout the week without time to recharge, cognitive resources — a CEO’s ability to juggle and process all information they have to make the right decision — are depleted by Friday,” Roulet said.
Jamie Dimon: ‘Anger doesn’t help’
During the interaction, Jamie Dimon highlighted emotional control as an important skill for leaders. “Anger doesn’t help,” he said, noting that emotions can affect judgment. He added that these are lessons he has “learned and relearned” over time. “I still make some of those mistakes, unfortunately,” he said.Dimon also spoke about values beyond work. He said he was raised to “have a purpose in life, treat everyone well, do the best you can, leave the world a better place.” He also explained the meaning of a well-known phrase. “When they said the pursuit of happiness, they didn’t mean happiness like we mean happiness,” he said, adding that it really meant “purpose.”According to Jamie Dimon, purpose can come from many roles. “That purpose could be an artist, politician, reporter, you know, business person,” he said. “You could be just a caregiver, a mother.”He also recalled reading an op-ed about a Medal of Honor recipient who later felt that the real heroes were those who quietly helped others every day. “They never gave up, and they did it through health and sickness and things like that,” Jamie Dimon said. “So that’s the purpose. You made the world a better place in the way you can contribute,” he added.
