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The Art of Decisions
How To Manage In An Uncertain World
Publisher: Prentice Hall, 2008 , 232 pages
ISBN: 0-273-71099-0
Synopsis:
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Decisions, decisions, decisions. Why there isn't always a right answer.
Managers make decisions all the time. In fact, you could say they are paid to make decisions. Being decisive offers the illusion of certainty and control. But in reality, very few things are certain, very few things can be controlled, particularly in the complex world of the manager. And while most business people wouldn't want to admit it, luck can sometimes play a much bigger role than we think.
So what really goes on in our heads when we have to make a decision? And what influences the outcome of our choice? The Art of Decisions reveals all. It looks at the power of and the pitfalls of intuitive judgement in decision making, in both familiar and unfamiliar environments. It uncovers rules of thumb from worlds as diverse as poker, trading and software programming, as well as from the boardroom. Chris Blake provides you with an insightful guide to the art of making decisions in an unpredictable world.
This is a book about the art rather than the science of decision making. Learning to let go of the myth of certainty and to manage effectively in a profoundly uncertain future is the key management skill for the twenty-first century. If you decide you want to hone your decision-making skills, The Art of Decisions will be an invaluable, mind-stretching and entertaining companion.
Table of Contents:
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- The anatomy of decisions
- Bad things sometimes happen to the good guys
- In search of the perfect decision?
- I know I am right (but I am not sure why)
- Calling of the search
- Investing, risk and poker
- Rules of thumb: part 1 — risk and investing
- Deciding close to home
- Deciding far from home
- Overconfidence and the entrepreneur
- The trouble with winners and experts
- Map making and the planning fallacy
- Fear, greed and risk taking
- The Dragon's Den syndrome
- Rules of thumb: part 2 — fighting to win
- The art of decision making
Reviews:
The Art of Decisions
Rating: ********* (Outstanding)
Decisions, decisions, decisions. Why there isn't always a right answer.
If you manage to ignore the authors constant references to Poker (or like the game), this is probably the best book written on the subject matter, so far!
His forays into entrepreneurship and private equity alone, is enough to make this book worth the money spent on it. Add to this that he is a very good writer, cites his sources and is not afraid to acknowledge when his parallels break down or is a bit flawed. This is a book to flip-through, but a book to read from start to finish, to be able to get the most out of it. It is one of the few books that can be read by a number of audiences and teach each of them something.
I highly recommended this book to MBA-students, salesmen, marketing people, HR-people, leaders of all kinds, and anyone that needs to make a decision in any way.