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Decision Making as Leadership Foundation
by Michael UseemAll organizations have an interest in ensuring that their leaders make good and timely decisions, but good decision making-so vital to effective leadership-is not a skill that comes naturally to every leader. Studies of what Nobel laureate and noted expert on decision making Daniel Kahneman terms "systemic biases"-the mental flaws that separate the choices leaders actually make from what rational agent models expect-reveal that these biases can be reduced when leaders are trained in decision making and have learned from experience. Both universities and companies bear the responsibility of preparing current and future leaders to make sound decisions in work environments that are often demanding and frequently changing. And given the impact of increasingly global product and equity markets on company operations, the pressures for quality decision making are sure to intensify. The chapter concludes with an examination of how boards of directors make decisions, with rich examples from Boeing (its decision to build the 787 aircraft) and computer technology giant Lenovo (its decision to build a global company). This chapter was originally published as Chapter 18 of "Handbook of Leadership Theory and Practice: A Harvard Business School Centennial Colloquium."
Decision Making at the Top: The All-Star Sports Catalog Division
by David A. Garvin Michael A. RobertoDescribes a senior management team's strategic decision-making process. The division president faces three options for redesigning the process to address several key concerns. The president has extensive quantitative and qualitative data about the process to guide him as he and the senior team attempt to make improvements.
Decision-Making Exercise (A)
by David A. Garvin Michael A. RobertoProvides questionnaires so students can compare their experiences with different decison-making processes. Students read "Growing Pains," a Harvard Business Review (HBR) case study, and then work in teams to come up with recommendations using a consensus approach to decison making. The next day using Decision-Making Exercise (B) and (C) and "Case of the Unhealthy Hospital," another HBR case study, and working in the same teams, use either a dialectical inquiry or devil's advocacy approach to decision making.
Decision-Making Exercise (B)
by David A. Garvin Michael A. RobertoProvides questionnaires so students can compare their experiences with different decison-making processes. Students read "Growing Pains," a Harvard Business Review (HBR) case study, and then work in teams to come up with recommendations using a consensus approach to decison making. The next day they use Decision-Making Exercise (B) and (C) and "Case of the Unhealthy Hospital," another HBR case study and, working in the same teams, use either a dialectical inquiry or devil's advocacy approach to decision making.
Decision-Making Exercise (C)
by David A. Garvin Michael A. RobertoProvides questionnaires so students can compare their experiences with different decison-making processes. Students read "Growing Pains," a Harvard Business Review (HBR) case study, and then work in teams to come up with recommendations using a consensus approach to decison making. The next day they use Decision-Making Exercise (B) and (C) and "Case of the Unhealthy Hospital," another HBR case study and, working in the same teams, use either a dialectical inquiry or devil's advocacy approach to decision making.
Decision Making For Dummies
by Dawna JonesDiscover the best approaches for making business decisions Today's business leaders have to face the facts-you can't separate leadership from decision making. The importance of making decisions, no matter how big or small, cannot be overstated. Decision Making For Dummies is a candid resource that helps leaders understand the impact of their choices, not only on business, but also on their credibility and reputation. Designed for managers, business owners, and anyone else who makes tough decisions on a daily basis, this guide helps you figure out if the decisions you're making are the right ones. In addition to helping you explore how to evaluate your choices, Decision Making For Dummies covers ways to receive support for decision making, delves into various decision-making styles, reviews the importance of sifting through data and information, and includes information on ways to engage others and make decisions collectively. Being in charge can be challenging, but with this guide, you don't have to go it alone. Discusses the effects of decision making and outlines the considerations that must be made to gain trust and confidence Demonstrates ways to communicate particularly sensitive decisions, and offers approaches for making bold decisions that challenge the status quo Delves into the risks and benefits of certain decisions, and shows readers the best ways to evaluate choices Outlines smart strategies for engaging others and drawing them into the decision-making process Crucial decisions need to be made every day in the business world, so there's no time to waste. Make Decision Making For Dummies your primary resource for learning to choose your actions wisely and confidently.
Decision Making for Enhanced Health Security: Managing Emerging Health Threats, Making Reasoned Choices, and Allocating Scarce Resources (International Series in Operations Research & Management Science #328)
by Gilberto MontibellerHealth threats pose significant dangers to humankind and form a major source of human suffering and sorrow. Responsible leadership and reasoned decision making can significantly improve the arenas that are affected by health threats, through establishing a better allocation of very scarce resources for building health capabilities and for increasing health preparedness, responsiveness and resilience.This book examines how public health leaders can use the cutting-edge research from Decision Sciences to better manage emerging and re-emerging health threats, with a focus on enhancing health security. While these decisions must be informed by the best available evidence, they must also address competing priorities and key uncertainties and must mitigate critical risks, albeit in a cost-effective manner which seeks to maximize societal value.This is a book about how decisions on health security can be improved, both in terms of the content that is utilized in a health decision analysis and the decision processes that are employed in reaching a decision. This decision-focused perspective can help public health leaders and public health experts to increase the health preparedness of health systems, the task of which involves improving health capabilities, increasing the robustness of health systems against health threats, as well as strengthening health resilience and the responsiveness of these systems against disease outbreaks.
Decision-making for New Product Development in Small Businesses (Routledge Advances in Management and Business Studies)
by Mary Haropoulou Clive SmallmanWhat goes on in a small firm that lives or dies by its capacity to innovate? How are decisions made on new product development, and how does that feed into the ecological, social and financial sustainability of the firm? This book answers the questions through an in-depth look at a small business that manufactures high-end carpet yarn. Using advanced analytical techniques to interrogate rich qualitative data, the book draws together established theories of decision-making and new product development, coupled with thinking about business sustainability to improve our understanding of this important area of business practice. The book further reinforces the importance and role of organizational learning in organizational decision-making, based on novel analysis of empirically developed qualitative data.
Decision Making for Personal Investment
by Waymond Rodgers Timothy G. McfarlinThis book presents a personal financial decision making model based on six dominant decision making pathways. It outlines each pathway in detail before focusing on real estate investments in the second part of the book. Based on the authors extensive research into investment decision making, decision modeling and experimental psychology, strategies presented in this book will facilitate more successful investment decision making.
Decision-Making for Supply Chain Integration
by Fiona Lettice Olatunde Amoo Durowoju Hing Kai ChanEffective supply chain integration, and the tight co-ordination it creates, is an essential pre-requisite for successful supply chain management. Decision-Making for Supply Chain Integration is a practical reference on recent research in the area of supply chain integration focusing on distributed decision-making problems. Recent applications of various decision-making tools for integrating supply chains are covered including chapters focusing on: Supplier selection, pricing strategy and inventory decisions in multi-level supply chains, RFID-enabled distributed decision-making, Operational risk issues and time-critical decision-making for sensitive logistics nodes, Modelling end to end processes to improve supply chain integration, and Integrated systems to improve service delivery and optimize resource use. Decision-Making for Supply Chain Integration provides an insight into the tools and methodologies of this field with support from real-life case studies demonstrating successful application of various decision-making techniques. By covering such a range of topics in this way, Decision-Making for Supply Chain Integration is a useful reference for researchers looking to develop their knowledge or find potential new avenues of research.
Decision-Making Groups and Teams: An Information Exchange Perspective (Routledge Advances in Management and Business Studies)
by Steven SilverIn recent years, there has been increasing implementation of group and team decision-making within organizations, much of it managed electronically, between members of what are "virtual" groups or teams. Recent research into effective team implementation emphasizes "trust" as an intermediary process, and trust must be a part of any account of team decision-making. This book provides an integrated framework that represents process in decision-making by interactive groups and teams. This framework furthers both our understanding of process and our capabilities in implementation, based on an account of group decision-making that differentiates the information types contributing to decision quality and relates them to process in interactive groups and teams. Author Steve Silver emphasizes the social structure that is inherent in the interaction of decision-makers as group or team members and effects on the information they exchange.
Decision-Making in Committees
by Nicola Friederike MaaserPolitical and economic institutions are typically governed by committees that face the challenge to reconcile the preferences of their members. How should decision rules be designed to generate fair and sustainable agreements, for example if committee members represent groups of different sizes? This book uses game-theoretic concepts and models to address the issue of political decision-making processes. In addition to providing a survey on basic game-theoretic tools in the analysis of political decisions, the author looks at specific issues such as two-tiered voting systems or the influence of lobbyists on legislative committees, and shows how the models can be applied to real-world contexts such as the EU decision-making institutions.
Decision Making in Complex Environments
by Malcolm Cook Jan Noyes Yvonne MasakowskiMany complex systems in civil and military operations are highly automated with the intention of supporting human performance in difficult cognitive tasks. The complex systems can involve teams or individuals working on real-time supervisory control, command or information management tasks where a number of constraints must be satisfied. Decision Making in Complex Environments addresses the role of the human, the technology and the processes in complex socio-technical and technological systems. The aim of the book is to apply a multi-disciplinary perspective to the examination of the human factors in complex decision making. It contains more than 30 contributions on key subjects such as military human factors, team decision making issues, situation awareness, and technology support. In addition to the major application area of military human factors there are chapters on business, medical, governmental and aeronautical decision making. The book provides a unique blend of expertise from psychology, human factors, industry, commercial environments, the military, computer science, organizational psychology and training that should be valuable to academics and practitioners alike.
Decision-Making in Design, Maintenance, Planning, and Investment of Wind Energy (International Series in Operations Research & Management Science #355)
by Daniela BorissovaThis book demonstrates how decision-making models can be applied to solve specific real-life problems, with a particular emphasis on wind energy. In a step-by-step manner, it guides the reader through decision-making, the formulation of optimization models, and the methods for solving them. After providing an overview of various models for the design of wind farms, it presents an optimization model for deciding which economy (country) to invest in and models for selecting suppliers. A dedicated chapter focuses on different models for monitoring and predictive maintenance for wind turbines (farms) due to the construction of turbine blades and vibration. It shows how combinatorial optimization models can help to make optimal decisions for one-dimensional cutting stock of blanks, their processing, and determining the optimal composition for production. Moreover, it discusses how the energy consumption balance index formed by conventional and renewable sources can be determined and presents a means of identifying the relative share of wind energy consumption among the other renewable sources. Operations research professionals, students, and decision-makers alike will find this book to be a valuable resource for tackling real-world challenges and driving sustainable advances in wind energy solutions.
Decision-making in High-Risk Projects
by Akio ToriiThis book identifies and systematically confirms the various factors that allow dangerous nuclear power projects to proceed without adequate risk assessment, even as society recognizes the magnitude of risks associated with nuclear power generation. For the first time, it employs a communication game model to explore each factor individually. The novel feature of the book lies in its theoretical analysis of institutional factors, such as the possibility of regulatory capture by electric power companies, the likelihood of these companies concealing early warning signs, the societal demand for excessive safety leading to intolerance of even minor incidents, and the ambiguity of liability. These issues have been pointed out and discussed by many commentators, including the media, but they have never been rigorously verified through economic model analysis. Furthermore, the book discusses why trial and error, a common approach in technological development, is particularly challenging for nuclear power.
Decision-making in Humanitarian Operations: Strategy, Behavior and Dynamics
by Sebastián Villa Gloria Urrea Jaime Andrés Castañeda Erik R. LarsenThis book brings together research in humanitarian operations, behavioral operations and dynamic simulation. Part I outlines the main characteristics and strategic challenges of humanitarian organizations in preparedness, knowledge management, climate change and issues related to refugees and social inclusion. Part II gives an introduction to behavioral operations and experiments in single- and multi-agent settings, followed by discussions on quantal theory, framing effect and possible applications in the humanitarian sector. Part III introduces system dynamics and agent-based modeling and discusses how these techniques can be used to study dynamics and decision-making in humanitarian operations. This book is unique in providing a holistic view of the decision-making process and challenges in the humanitarian sector.
Decision Making in Interdisciplinary Renewable Energy Projects: Navigating Energy Investments (Contributions to Management Science)
by Hasan Dinçer Serhat Yüksel Muhammet DeveciThis edited book presents a comprehensive analysis of the multidimensional aspects associated with decision making in renewable energy investment projects. It delves into the interplay between interdisciplinary studies, sustainability considerations, and circular economy principles within the renewable energy sector. By examining the impact of these interconnected domains, the book offers valuable insights into the challenges and opportunities inherent in decision making for renewable energy investments. The book is tailored to a diverse audience, including researchers, scholars, and professionals in the fields of renewable energy, sustainability, circular economy, and business management. It is equally suitable for graduate and undergraduate students studying environmental studies, renewable energy, sustainability, and related disciplines. Professionals working in the renewable energy industry, including project developers, investors, and policymakers, will find valuable insights to inform their decision-making processes. Additionally, engineers, economists, social scientists, and environmental consultants interested in interdisciplinary studies and their intersection with renewable energy will benefit from the book's comprehensive analysis.
Decision Making in Inventory Management (Inventory Optimization)
by Nita H. Shah Mandeep Mittal Leopoldo Eduardo Cárdenas-BarrónThis book provides several inventory models for making the right decision in inventory management under different environments. Basically, the optimal ordering policies are determined for situations with and without shortages in production-inventory systems. The chapters in the book include various features of inventory modeling i.e., inflation, deterioration, supply chain, learning, credit financing, carbon emission policy, stock-dependent demand, among others. The book is a useful resource for academicians, researchers, students, practitioners, and managers who can be benefited with the policies provided in the chapters of the book.
Decision-Making in Management: Methods and Behavioral Tools (Contributions to Management Science)
by Kesra Nermend Małgorzata Łatuszyńska Eleftherios ThalassinosMaking important business decisions is usually a difficult and complicated task. In the modern economy where businesses have to solve increasingly complex decision-making problems, it is important to learn and use methods and techniques including the analysis of behavioral data to support decision-making in practice.This book presents various methods and solutions to problems in modern data acquisition techniques and practical aspects of decision making. In particular, it addresses such important issues as: business decision making, multi-criteria decision analysis (MCDA), multidimensional comparative analysis (MCA), decision games and data acquisition techniques for decision making (declarative techniques and cognitive neuroscience techniques). Important topics such as consumers’ rational behavior, environmental management accounting, operational research methods, neuroscience including epigenetics, DEA analysis etc., as well as case studies related to decision making in management are also included.
Decision Making in Manufacturing Environment Using Graph Theory and Fuzzy Multiple Attribute Decision Making Methods
by R. Venkata RaoDecision Making in Manufacturing Environment Using Graph Theory and Fuzzy Multiple Attribute Decision Making Methods presents the concepts and details of applications of MADM methods. A range of methods are covered including Analytic Hierarchy Process (AHP), Technique for Order Preference by Similarity to Ideal Solution (TOPSIS), VIšekriterijumsko KOmpromisno Rangiranje (VIKOR), Data Envelopment Analysis (DEA), Preference Ranking METHod for Enrichment Evaluations (PROMETHEE), ELimination Et Choix Traduisant la Realité (ELECTRE), COmplex PRoportional ASsessment (COPRAS), Grey Relational Analysis (GRA), UTility Additive (UTA), and Ordered Weighted Averaging (OWA). The existing MADM methods are improved upon and three novel multiple attribute decision making methods for solving the decision making problems of the manufacturing environment are proposed. The concept of integrated weights is introduced in the proposed subjective and objective integrated weights (SOIW) method and the weighted Euclidean distance based approach (WEDBA) to consider both the decision maker's subjective preferences as well as the distribution of the attributes data of the decision matrix. These methods, which use fuzzy logic to convert the qualitative attributes into the quantitative attributes, are supported by various real-world application examples. Also, computer codes for AHP, TOPSIS, DEA, PROMETHEE, ELECTRE, COPRAS, and SOIW methods are included. This comprehensive coverage makes Decision Making in Manufacturing Environment Using Graph Theory and Fuzzy Multiple Attribute Decision Making Methods a key reference for the designers, manufacturing engineers, practitioners, managers, institutes involved in both design and manufacturing related projects. It is also an ideal study resource for applied research workers, academicians, and students in mechanical and industrial engineering.
Decision Making in Marketing and Finance
by Paul Sergius KokuAs interest in MBA programs and business schools more generally continues to grow, it is essential that teachers and students analyse their established strategy for decision making. The successful use of case studies in business schools shows the superior outcomes of an interdisciplinary approach to problem solving. Disappointingly, functional departmental silos within universities still exist and keep problem solvers from seeing all the effects of a given issue. In addition to providing teaching material, Decision Making in Marketing and Finance provides motives and strategies to break down functional silos in making informed and effective business and finance decisions. Koku achieves his goal by showing how value can be created for shareholders and other stakeholders, linking marketing and finance decision making, and providing much-needed teaching materials for an interdisciplinary approach to case analysis.
Decision-Making in Private Equity Firms
by Mark BroereThe decisions of private equity firms affect the development of industries and national economies, yet little is known about how these decisions are made. Mark Broere uses proprietary survey data from 136 private equity firms (venture capital and buyout) located in the US, Canada, and Europe to explore determinants and rules of their decision-making. The results exhibit new facts about their objectives, success measures, decision criteria, exit decision power and rules. A discussion in light of existing financial theory highlights, e. g. the role of reputation, and potential pitfalls in the decision-making of practitioners. The author suggests that private equity firms might improve their performance by a more careful choice of decision rules and criteria and by a more consistent application of these across varying decision types.
Decision Making in Service Industries: A Practical Approach
by Javier Faulin Angel A. Juan Michael J. Fry Scott E. GrasmanIn real-life scenarios, service management involves complex decision-making processes usually affected by random or stochastic variables. Under such uncertain conditions, the development and use of robust and flexible strategies, algorithms, and methods can provide the quantitative information necessary to make better business decisions. Decision M
Decision Making in the Workplace: A Unified Perspective
by Lee Roy BeachMany, if not most, of one's important decisions are made in the context of one's work. However, because workplace decisions cover such a broad range of issues, it often is difficult to detect underlying commonalities in how they are made, and in how things go wrong when they do go wrong. As a result, there are nearly as many different descriptions of workplace decisions as there are decisions themselves. In this volume, the best features of these diverse descriptions are unified in a new, intuitively compelling view of decision making called "Image Theory." The result is a clear picture of real-life, day-to-day workplace decision making that allows us to think constructively about how such decisions are made and about how to improve them when improvement is necessary.
Decision Making In A Week: Be A Better Decision Maker And Problem Solver In Seven Simple Steps
by Martin ManserThe ability to make the right decision is crucial to anyone who wants to advance their career.Written by Martin Manser, a leading expert on decision making in a business context, this book quickly teaches you the insider secrets you need to know to in order to choose the right path.The highly motivational 'in a week' structure of the book provides seven straightforward chapters explaining the key points, and at the end there are optional questions to ensure you have taken it all in. There are also cartoons and diagrams throughout, to help make this book a more enjoyable and effective learning experience.So what are you waiting for? Let this book put you on the fast track to success!