The Art of Decisions: How to Manage in an Uncertain World (Financial Times Series) Review

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(More customer reviews)Even though making decisions is a life skill, books on decision making never hit main stream. The minority of readers interested in the subject find a great choice of books incl. Think Twice, Seeking Wisdom, Smart Choices. What makes THE ART OF DECISIONS different to the other books is the applicability: the author provides real life issues with real life examples. This earns him my highest praise.
The author covers many examples on decision making as a manager, entrepreneur or VC. The intellectual capability of the author is impressive and readers who like the topics will be excited reading the book. Many of the decision making problems are viewed through the lense of a passionate poker player.
Readers who are familiar with the writings of Nassim Taleb will immediately see some resemblance the in the topics covered in this book. Chris Blake certainly likes Nassim Taleb and the reader might get the feeling that he imitates Nassim Taleb on occasions. While I'm a huge fan of Nassim Taleb, Chris Blake achieves something Nassim Taleb probably won't ever achieve; applicability. On the downside, you will laugh out loud a lot while reading Nassim Taleb which won't happen with this book.
My two favored chapters were `Deciding close to home' and `Deciding far from home'. Basically how we should make decisions where we are experienced (home) and where we are unexperienced (far from home). In particular the later, when we don't have, or don't trust our own experience, we can use `rules of thumbs' to guide our decisions - effectively the experience of others.
Business decisions are decisions about the deployment of resources - people, time or money. This book is worthy every minute and money spent on.


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Doing It Right the First Time: A Short Guide to Learning From Your Most Memorable Errors, Mistakes, and Blunders Review

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(More customer reviews)This book is very deceptive in its simplicity. It explains how errors can and do occur. The theme is 'if you know what can go wrong, you can do something about it'. Filled with examples of how simple (and not so simple) mistakes can happen and the sometimes tragic consequences. Excellent reading for managers, engineers and anyone interested in understanding and reducing errors- including the typo in the one line summary.

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The ultimate guide to identifying and reducing mishaps--both at work and in lifeYour mistakes need not be a fact of life. We can all learn to make fewer of them. In Do It Right the First Time, world renowned personal improvement guru Gerard Nierenberg shows us just how we can reduce the number of errors we make--both in and out of life and the workplace. Nierenberg's Error Awareness System teaches us how to increase our sensitivity and cut down on the errors we make--and guard against those made by others that affect us. He shows us how to identify the causes of our errors, how to deal with them--and most importantly--how to prevent them from recurring. Packed with real-life examples, discussion questions, checklists, and helpful exercises, Do It Right the First Time covers: * Ways to reduce errors in critical thinking and judgment * Improving memory* Recognizing patterns in error * How managers and supervisors can reduce errors--awareness and action, effective feedback, quality control, with no shame, no blame * Concentration and accuracy--focusing on the job at hand * Clerical errors and what they cost--understanding transportation, omission, insertion, repetition, substitution * How to turn mistakes into benefitsFor all professionals, academics, and businesspeople, including managers, supervisors, and anyone who simply wants to reduce the number of errors in his or her life, this unique book is indispensable.

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Winning Decisions: Getting It Right the First Time Review

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(More customer reviews)A relative glut of periodicals and books exist on decisionmaking, whether personally or professionally. Many have solid foundations, many are commercialized tripe. In MAKING DECISIONS, authors Russo and Shoemaker hit on a timely subject for professional managers or entrepreneurs. The economy has plummeted and the stock market has deflated propelling each individual responsble for their company's path to success into crucial, perhaps vital decisions on a daily basis. And the rapid rate of change is forcing all executives and managers to make decisions faster.
Given the current environment, it is well worth the time to revisit an executive/manager's most basic of tasks: making a decision...a subject devoid of attention except in academic journals or business books. In a straightforward, well-presented fashion, the authors break down the decisionmaking process into four steps:
1. Framing or deciding what you are going to decide-and not decide;
2. Gathering intelligence-real intelligence, and not just information that will support your internal biases;
3. Coming to conclusions-determining how your company acts on the intelligence it gathers, and;
4. Learning from experience.
The authors guide the reader through each of the steps providing insight into the process, highlighting key concepts, and providing case studies and worksheets so the reader can begin to track their own issues at hand. Russo and Shoemaker have presented this material in such a way as to demystify the "process" of decisionmaking. The "process" gets so much attention as being clandestine, complex and erudite. However, by providing a detailed framework reflecting a relatively mechanical and logical process to making a decision, the authors have uncorked the mystery. When confronted with the need to assess a situation, gather information and reach a decision, most managers depend on a hit-or-miss approach. This approach is different from executive-to-executive and is measured relative to the frequency and experience an executive may have "putting out the proverbial fire." While there's nothing inherently wrong or incorrect about this type of venerable process, this process typically results in a lower-end spectrum result when nothing but mid-high to high results will suffice as a necessary competitive edge.
The alternative approach presented by the authors allows executives/managers to reframe issues by asking such questions as "What is the crux of the issue that I am facing?" so that they don't end up solving the wrong problem (i.e. analogous to "looking from the outside in"). It also allows them to increase their options by doing such things as "not necessarily taking yes for an answer," when it comes to initial research findings. In fact, these alternatives may result in something quite creative and innovative, a veritable whack on the side of the head.
As they should, the authors stress to the reader that improving one's decisionmaking skills is not an ironclad guarantee to success. Execution of a solid operating (business) plan and being in the right place at the right time (luck) are factors tantanmount to any successful venture. However, it is rational and logical that if one makes better decisions, one's odds of success are bound to increase. And, as one gains experience in making decisions and acting upon the achieved results, desired or not, success rates grow exponentially.
A solid read.

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