Why Decisions Fail: Avoiding the Blunders and Traps That Lead to Debacles

Berrett-Koehler Publishers
Free sample

Based on the his analysis of 400 strategic decisions made by top managers in areas such as products and services, pricing and markets, personnel policy, technology acquisition, and strategic reorganization, Nutt estimates that two-thirds of all decisions are based on failure-prone or questionable tactics. He uses the fifteen monumental decision-making disasters to illustrate the potential consequences of these common tactical errors and traps and then details successful alternative decision-making approaches.
Why Decisions Fail translates decades of award-winning research into practical terms that managers can use to improve their own decision-making practices.
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Additional Information

Publisher
Berrett-Koehler Publishers
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Published on
Jul 10, 2002
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Pages
350
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ISBN
9781605091495
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Best For
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Language
English
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Genres
Business & Economics / Decision-Making & Problem Solving
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Content Protection
This content is DRM protected.
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Add value with every decision using a simple yet powerful framework

Few things are as valuable in business, and in life, as the ability to make good decisions. Can you imagine how much more rewarding your life and your business would be if every decision you made were the best it could be? Decision Quality empowers you to make the best possible choice and get more of what you truly want from every decision.

Dr. Carl Spetzler is a leader in the field of decision science and has worked with organizations across industries to improve their decision-making capabilities. He and his co-authors, all experienced consultants and educators in this field, show you how to frame a problem or opportunity, create a set of attractive alternatives, identify relevant uncertain information, clarify the values that are important in the decision, apply tools of analysis, and develop buy-in among stakeholders. Their straightforward approach is elegantly simple, yet practical and powerful. It can be applied to all types of decisions.

Our business and our personal lives are marked by a stream of decisions. Some are small. Some are large. Some are life-altering or strategic. How well we make those decisions truly matters. This book gives you a framework and thinking tools that will help you to improve the odds of getting more of what you value from every choice. You will learn:

The six requirements for decision quality, and how to apply them The difference between a good decision and a good outcome Why a decision can only be as good as the best of the available alternatives Methods for making both "significant" and strategic decisions The mental traps that undermine decision quality and how to avoid them How to deal with uncertainty—a factor in every important choice How to judge the quality of a decision at the time you're making it How organizations have benefited from building quality into their decisions.

Many people are satisfied with 'good enough' when making important decisions. This book provides a method that will take you and your co-workers beyond 'good enough' to true Decision Quality.

Where should I live? Is it time to get a new job? Which job candidate should I hire? What business strategy should I pursue?

We spend the majority of our lives making decisions, both big and small. Yet, even though our success is largely determined by the choices that we make, very few of us are equipped with useful decision-making skills. Because of this, we often approach our choices tentatively, or even fearfully, and avoid giving them the time and thought required to put our best foot forward.

In Smart Choices, John Hammond, Ralph Keeney, and Howard Raiffa—experts with over 100 years of experience resolving complex decision problems—offer a proven, straightforward, and flexible roadmap for making better and more impactful decisions, and offer the tools to achieve your goals in every aspect of your life.

Their step-by-step, divide-and conquer approach will teach you how to:
• Evaluate your plans
• Break your potential decision into its key elements
• Identify the key drivers that are most relevant to your goals
• Apply systematic thinking
• Use the right information to make the smartest choice

Smart Choices doesn’t tell you what to decide; it tells you how. As you routinely use the process, you’ll become more confident in your ability to make decisions at work and at home. And, more importantly, by applying its time-tested methods, you’ll make better decisions going forward.

Be proactive. Don’t wait until a decision is forced on you—or made for you. Seek out decisions that advance your long-term goals, values, and beliefs. Take charge of your life by making Smart Choices a lifetime habit.
Major New York Times bestseller
Winner of the National Academy of Sciences Best Book Award in 2012
Selected by the New York Times Book Review as one of the ten best books of 2011
A Globe and Mail Best Books of the Year 2011 Title
One of The Economist's 2011 Books of the Year
One of The Wall Street Journal's Best Nonfiction Books of the Year 2011
2013 Presidential Medal of Freedom Recipient
Kahneman's work with Amos Tversky is the subject of Michael Lewis's The Undoing Project: A Friendship That Changed Our Minds

In the international bestseller, Thinking, Fast and Slow, Daniel Kahneman, the renowned psychologist and winner of the Nobel Prize in Economics, takes us on a groundbreaking tour of the mind and explains the two systems that drive the way we think. System 1 is fast, intuitive, and emotional; System 2 is slower, more deliberative, and more logical. The impact of overconfidence on corporate strategies, the difficulties of predicting what will make us happy in the future, the profound effect of cognitive biases on everything from playing the stock market to planning our next vacation—each of these can be understood only by knowing how the two systems shape our judgments and decisions.

Engaging the reader in a lively conversation about how we think, Kahneman reveals where we can and cannot trust our intuitions and how we can tap into the benefits of slow thinking. He offers practical and enlightening insights into how choices are made in both our business and our personal lives—and how we can use different techniques to guard against the mental glitches that often get us into trouble. Winner of the National Academy of Sciences Best Book Award and the Los Angeles Times Book Prize and selected by The New York Times Book Review as one of the ten best books of 2011, Thinking, Fast and Slow is destined to be a classic.

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