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SinceHarvard Business School Press has been dedicated to publishing the most contemporary management thinking, written by authors and practitioners who are leading the way. Whether readers are seeking big-picture strategic thinking or tactical problem solving, advice in managing global corporations or for developing personal careers, HBS Press helps fuel the fire of innovative thought. HBS Press has earned a reputation as the springboard of thought for both established and emerging business leaders.
Hou you like to tell us about a lower price? If you are a seller for this product, would you like to suggest updates through seller support? This collection will help people at all levels understand the fundamental theories and practices of effective decision making so that they can make better decisions in their personal and professional lives.
The Effective Decision by Peter F. Read more Read less. Discover Prime Book Box for Kids. Add both to Cart Add both to List. These items are shipped from and sold by different sellers. Buy the selected items together This item: Wharton on Making Decisions eprrin Stephen J. Ships from and sold by Amazon. Customers who viewed this item also viewed. Page 1 of 1 Start over Page 1 of 1. Wharton on Making Decisions. About the Author SinceHarvard Business School Press has been strykker to publishing the most contemporary management thinking, written by authors and practitioners who are leading the way.
Harvard Business Press June 1, Language: I’d like to read this book on Kindle Don’t have a Kindle? Share your thoughts with other customers. Write yoj customer review. Showing of 13 reviews.
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Much of the contextual material pfoblem this volume is out-of-date, given the fact that the eight articles originally appeared in the Harvard Business Review years ago However, I think the core concepts remain sound and provide a valuable frame-of-reference for understanding the advances in decision making that have occurred during the last five years.
For example, Peter Drucker suggests a sequence of six steps: Yes, these are obvious steps. Htis, but the number of well-publicized bad decisions that have been made in recent years e. Adelphia Communications, Arthur Andersen, Enron, Kmart, and Tyco suggests the implications and consequences when decision-makers ignore one or more of these steps.
Book and Issue: Decision Making: Harvard Business Review on Decision Making
No brief commentary such as this can do full justice to the rigor and substance of the eight articles. It remains for each reader to examine the list to identify which subjects are of greatest interest to her or him. My own opinion is that all of the articles are first-rate. One of this volume’s greatest benefits is derived from the fact that a variety of perspectives are provided by a number of different authorities on the same general subject. In this instance, “advances [to date] in strategy” Readers will especially appreciate the provision of an executive summary that precedes each article.
They facilitate, indeed expedite frequent review of key points which – presumably – careful readers either underline or highlight. Also of interest is the “About the Contributors” section that includes suggestions of other sources to consult. Here are questions that suggest key issues to which the authors of these articles respond: How to make and then measure an “effective” decision?
Effective executives do not make a great many decisions. They concentrate on what is most important. What is a rational method for making trade-offs? Keeney, and Howard Raiffa Comment: Making wise trade-offs is one of the most important and difficult challenges in decision making.
Needless to say, the more alternatives you are considering and the more objectives you’re pursuing, the more trade-offs you’ll need to make. Why is humility essential to effective decision-making? Only fools make rigid decisions and decisions with no sense of overarching purpose, whereas the most able executives practice more humble decision making that offers the benefits of flexibility, caution, and the capacity to proceed with partial knowledge.
What are the most common interpersonal barriers to decision making and how to overcome them? One of the most common observations in company studies is that executives lack awareness of their own behavioral patterns as well as the negative impact of their behavior on others.
How to analyze the nature and extent of the given problem? Even veteran managers are likely to be very unsystematic when dealing with problems and decisions, and their hit-or-miss methods often produce bad decisions based on erroneous conclusions. What are the hidden traps in decision making? Bad decisions can often be traced back to the way the decisions were made – the alternatives that were not clearly defined, the right information was not collected, and the costs and benefits were not accurately weighed.
When to “trust your gut”? Our emotions and feelings might not only be important in our intuitive ability to make good decisions but may actually be essential because they can help us to filter various options quickly.
There are several books from the Harvard Business Review that follow this simple format – essays on critical topics by the leading minds in the field compiled into a short book of around pages.
One of these critical topics is Decision Making. That topic is the focus of this book. There are hundreds of books on management, strategy, leadership, etc. This book contains 8 short essays presenting different theories by people by Peter Drucker.
The first chapter starts off with an impressive treatment of The Effective Decision. It is impressive because of the wisdom packed into these few pages and the aptness of the title. The author Peter Drucker dispels the myths about the most effective decision makers being the ones that can think fast and manipulate a large number of variables in their heads. Instead he explains that the best decision makers are the ones who focus on impact instead of technique. He then systematically explains a simple process to follow to achieve the same results as the highly successful executives.
The book then moves on to topics dealing with how to make trade-offs, humble decision making which is nothing but accepting that your first impressions may be wrong and be open to changing the direction of your thoughts as more information becomes availableinterpersonal barriers, hidden traps, when to trust your gut, and analyzing problems. The essay on interpersonal barriers was very familiar to me as I had experienced the situations described several times in my own career.
The book is simple – it has no pictures, just some tables once in a while and some blank paper at the end of the book to takes notes.
The size is small like a novel but very potent! When I first saw this book at a bookstore, I didn’t think much of it. But I picked it up because of the Harvard Business Review name on the front cover.
“Harvard Business Review” on Decision Making
I couldn’t put it down once I started reading the first chapter and immediately purchased a few books in styker series. These books and especially this one can be described in only one word – potent. They are like text books or Ph. D papers except they are very practical. Since they are abstract in nature, one has to read them very slowly and perrln them with total concentration. The authors don’t spend time painting a picture in detail and trying to get you excited.
They get straight to the point and finish it in less than 20 pages.
If you read these books like you would read other books, you are likely to miss the point. This book in particular is very unique as there aren’t that many books dedicated to just Decision Making. Enjoy learning from the masters!
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