Decision Making 5 Steps to Better Results

ISBN-10: 1591397618

ISBN-13: 9781591397618

Edition: 2005

Authors: Harvard Business Review Staff

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Decision making is a critical part of management, and bad choices can damage careers and the bottom line. This book offers the tools and advice managers need to avoid common biases and arrive at and implement decisions that are both sound and ethical.
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Book details

List price: $25.00
Copyright year: 2005
Publisher: Harvard Business Review Press
Publication date: 1/1/2006
Binding: Paperback
Pages: 192
Size: 6.10" wide x 9.30" long x 0.45" tall
Weight: 0.990
Language: English

The Decision Process: Five Key Steps
Establish a Context for Success
Frame the Issue Properly
Generate Alternatives
Evaluate the Alternatives
Choose the Best Alternative
Summing Up
The Context for Success: Setting the Stage
Get the Right People to Participate
Give Some Thought to the Setting
Agree on How the Decision Will Be Made
From Advocacy to Dialogue
A Hybrid Approach
Summing Up
The Framing Challenge: What Is the Real Problem?
Perils and Promise
Don't Impose Your Frame on Others
Apply Creative Thinking
Summing Up
Alternatives: The Source of Superior Solutions
Generating Alternatives
Bring a Creative Group to the Task
Characteristics of Good Alternatives
Summing Up
Evaluate the Alternatives: Finding the Value of Each Option
Variables to Consider
Financial Analysis
The Prioritization Matrix
The Trade-off Table
Decision Trees
Computers to the Rescue
The Problem of Uncertainty
Summing Up
Make the Decision: Getting to Agreement
Three Decision-Making Techniques
Other Ways to Resolve Disagreements and Reach Closure
Ending Deliberations
After the Decision
Summing Up
The Uncertainty Problem: How to Deal with Unknowns
Identify Areas of Uncertainty
Determine Which Uncertainties Could Have the Greatest Impact
Attempt to Reduce Key Uncertainties
When to Trust Your Gut
Summing Up
Human Foibles: How to Counter Tendencies That Can Ambush Your Decision
Anchoring and Adjustment
Sunk Costs
The Confirming-Evidence Bias
False Analogies
Summing Up
Organizational Traps: The Madness-and the Wisdom-of Crowds
Social Influences
Rewarding Optimists and Punishing Pessimists
When Groups Make Better Decisions
Summing Up
Toward a Smarter Organization: Getting Better at Making Decisions
The GM Experience
Lessons for Organizational Improvement
What Leaders Must Do
Summing Up
Useful Implementation Tools
Financial Tools for Evaluating Alternatives
For Further Reading
About the Subject Adviser
About the Writer
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