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Winning Decisions: Getting It Right the First Time, by J. Edward Russo, Paul J.H. Schoemaker
Ebook Winning Decisions: Getting It Right the First Time, by J. Edward Russo, Paul J.H. Schoemaker
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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 ways of making decisions–depending on intuition, common sense, and specialized expertise–are simply no longer sufficient. Distilling over thirty years of groundbreaking research, Winning Decisions, written by two seasoned business advisers and world leaders in behavioral decision studies, is a comprehensive, one-of-a-kind guide to the proven methods of making critical business decisions confidently, quickly–and correctly.
Decision-making is a business skill which managers often take for granted in themselves and others–but it's not as easy as some might think. The authors, whose expertise has been sought out by over a hundred companies, including Arthur Andersen, Hewlett-Packard, IBM, and Unilever, contend that decision-making, like any other skill, must be developed and honed if it is to be used effectively. Winning Decisions offers step-by-step analyses of how people typically make decisions, and provides invaluable advice on how to improve your chances of getting your next big decision right the first time. The book is packed with worksheets, tools, questionnaires, case studies, and anecdotes analyzing major decisions made by organizations like British Airways, NASA, Shell Oil, and Pepsi. Some of the proven, straightforward techniques covered in Winning Decisions include how to:
Reframe issues to ensure that the real problem is being addressedImprove the quality and quantity of your options
Convert expert yet conflicting opinions into useful insights
Make diversity of views and conflict work to your advantage
Foster efficient and effective group decision-making
Learn from past decisions--your own and those of others
With Winning Decisions, managers and other professionals now have access to a proven set of skills and strategies they need for making the right decision, right away.
- Sales Rank: #56431 in Books
- Brand: Paul J H Schoemaker
- Published on: 2001-12-26
- Released on: 2001-12-26
- Original language: English
- Number of items: 1
- Dimensions: 9.55" h x 1.14" w x 6.47" l, 1.32 pounds
- Binding: Hardcover
- 352 pages
- Winning Decisions Getting It Right the First Time
Amazon.com Review
Making "good, fast, frequent decisions... better than those with whom you compete," say J. Edward Russo and Paul J.H. Schoemaker, is a critical skill in today's business climate. They additionally believe it's a skill that all of us can learn, much like a proper golf swing. In Winning Decisions, they lay out a four-step process that constitutes "a broad, conceptual framework" applicable in virtually any situation where a decision is needed. Russo and Schoemaker, consultants and professors who collaborated on an earlier book about the roadblocks to proper decision making, turn their attention here to making decisions "with the head, not the gut." Their program is divided into four phases fully explained in their own sections: Framing, Gathering Intelligence, Coming to Conclusions, and Learning from Experience. In total, they reveal a disciplined system that will benefit anyone looking to make better decisions in just about any situation. --Howard Rothman
From Publishers Weekly
The coauthors of 1989's Decision Traps offer a clear, straightforward explanation of how managers should perform one of their most basic tasks: making a decision. Russo, professor of marketing and behavior science at Cornell, and Shoemaker, research director of Wharton's Mack Center for Technology and Innovation, break their method into four steps: framing decisions, i.e., factoring in difficulties like information overload and the "galloping rate of change," and thereby determining which choices need to be addressed and which ones don't; gathering real intelligence, not just information that will support internal biases; coming to conclusions, i.e., assessing how one's company acts on the intelligence gathered; and learning from experience. The authors walk readers through each of the steps. Unlike many business books, this one is akin to a workbook, providing how-tos, case studies and worksheets so readers can put their ideas into play immediately. The authors highlight key concepts, and they even show an occasional humorous side. However, they stress that even improving the way one goes about making decisions won't guarantee that they'll be the right ones. Decisions still have to be executed successfully, and luck is always a factor. Still, with better decision-making skills, the odds are bound to go up. This book will prove valuable to managers at all levels of an organization. (On-sale: Dec. 26)
Copyright 2001 Cahners Business Information, Inc.
From Booklist
Russo and Schoemaker follow their first book, Decision Traps (1989), with an outstanding book on the process of decision-making. The authors are business experts who honed their skills advising, consulting, and teaching at top national business schools and multinational corporations. As they posit, managers and executives may be well versed on intelligence gathering, reframing issues, group decision making, and developing environments to enhance feedback, but it is easy to fall into the trap of embracing an outcome-focused process. In other words, if the project made money, the decision making process was good, and if it lost money, it was bad. But that is an ill-advised way of looking at things. There are external factors, such as luck, that can influence and determine an outcome beyond the control of the decision maker. This book makes a comprehensive analytical tool, with excellent case studies, exercises, evaluators, and notes. It transcends many of the ordinary organizational behavior theory and strategy books on the shelves, and managers, executives, and business-school students who read it will be put through their paces. Eileen Hardy
Copyright © American Library Association. All rights reserved
Most helpful customer reviews
1 of 1 people found the following review helpful.
Guide to be a better human, great as an intro to decision theory
By Andrew Butts
I'm an Operations Research student, so its an interesting twist on the more rigid framework we deal with. It comes at decision making from a more psychological angle, which makes it much more accessible to the layperson than business process or capital expenditure decision analysis. The book is very comprehensible, and very easy to read. It makes for a great jumping point into other books like Smart Choices or Gut Feelings for comparison and contrast. And taken from an Operations Research perspective, it certainly encourages one to explore the human element. It's a good read.
0 of 0 people found the following review helpful.
it's that good!
By Paul S.
A must read for everyone, it's that good!
0 of 0 people found the following review helpful.
A great resource for anyone that participates in decision making or ...
By sadie
I was assigned this book as part of an MBA class, and with the possible exception of Daniel Goleman's work, it is the most impactful text I've read as part of this program. I found it to be a really readable book with effective techniques that I started using right away. A great resource for anyone that participates in decision making or process changes at work, with many ideas that could be extrapolated to personal life decisions as well. I've already recommended this to several coworkers.
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