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Inhaltsangabe: A comprehensive look at decision-making practices and what can be done to eradicate errors

Designed to help companies in any industry make fewer mistakes, The Economist Guide to Decision Making is an in-depth look at the tools and techniques for preventing errors and improving efficiency. Exploring how and why decisions go awry in the first place; what decision-makers can do to counter the psychological, social, and other forces that can undermine individual judgment and pull organizations off course; and highlighting often overlooked aspects of the science of decision making, the book illustrates how mistakes really happen so that they can be better avoided.

Drawing on examples taken from companies around the world, including Motorola, EMI, and the London Stock Exchange, as well as gold mines in South Africa, and food contamination scandals in China, The Economist Guide to Decision Making thoughtfully considers how companies can be more effective and improve their decision-making strategies.

  • Presents new ways for companies to improve their decision-making processes
  • Explains how decision-making works and discusses the tools available for helping reduce the likelihood of errors
  • Draws on examples taken from companies around the globe

Decision making can never prevent mistakes entirely, but a better understanding of how to improve practices and processes is invaluable for companies looking to increase their overall efficiency. The Economist Guide to Decision Making leads the way.

Umschlagtext:

In theory, decision-making is simple. The goal is defined, the possible options for achieving it identified and analysed, and the one that seems most effective is selected. No organisation makes perfect decisions all the time. Ultimately, there is nothing for it but for decision-makers to "put up the money and roll the dice." Yet there is no need for firms to learn the hard way. The starting point is to distinguish between a mistake made amid the fog of war and a systematic error of judgment. Nothing can be done about the fog of war, but systematic errors ? the different types of "traps" ? that result in flawed decisions are avoidable. This book is about why bad decisions are made and how to make better ones. In addition to an introduction and some closing thoughts, it has ten chapters:

  • Illusions of control: the confidence trap
  • Blinkered vision: the judgment trap
  • Ghosts and shadows: where is reality?
  • Gorilla in the room: information and decision-making
  • Conspiracies of optimism: group dynamics
  • Shifting tides: power and politics in decision-making
  • Predictable surprises
  • The march of folly: the escalation trap
  • Decisionless decisions: the continuity trap
  • Risk a little, gain a lot: real options thinking

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