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Winning Decisions: Getting It Right the First Time
Business revolves around making decisions, often risky decisions, usually with incomplete information and too often in less time than we need. Executives at every level, in every industry, are confronted with information overload, less leeway for mistakes, and a business environment that changes rapidly. In light of this increased pressure and volatility, the old-fashioned ...more
Hardcover, 352 pages
Published December 26th 2001 by Crown Business
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Introduction: Decision-Making in the Real World. Ch. 1. Setting the Course -- Phase I. Decision-Framing. Ch. 2. The Power of Frames. Ch. 3. Creating Winning Frames. Interlude A: Improving Your Options -- Phase II. Gathering Intelligence. Ch. 4. Avoiding Distortion and Bias. Ch. 5. Intelligence in the Face of Uncertainty. Interlude B: Technologies for Aiding Decisions -- Phase III. Coming to Conclusions. Ch. 6. Choosing: A Pyramid of Approaches. Ch. 7. Managing Group Decisions. Interlude C: Imple ...more
A good read. Many of the things in this book I already knew and use but interestingly - not all in or from business. Some of the ideas I actually knew and exercised in the area of sports coaching. So if nothing else it connected some knowledge that I had in two very different (but still goal-oriented) areas. Plus I learned a thing or two new as well. I think for those who haven't spent a lot of time in the study of decision theory and coupled that with real world experience can learn even more. ...more
Required reading for a class this past semester. I thought it was a complete waste of time and money. A rehash of things that I already knew. Plus, the book had a quote from Jeff Skilling of Enron fame that was used as an example of good decision making. Any book that uses Jeff Skilling as an example of good decision making should be burned.
Making decisions correctly is hard. Humans are biased and built badly to do so. This book is a pretty good manual on how to make good decisions. It talks about how to take uncertainty into account, and how to avoid many other pitfalls. I'm not sure, though, it lives up to its promise of solving every hurdle in the path of good decision making.