9,99 €
Mehr erfahren.
- Herausgeber: Business Book Summaries
- Kategorie: Lebensstil
- Sprache: Englisch
The must-read summary of Paul Nutt's book: "Why Decisions Fail: Avoiding the Traps and Blunders that Lead to Debacles".
This complete summary of the ideas from Paul Nutt's book "Why Decisions Fail" shows that in order to make better decisions and avoid the debacles, you need to avoid the three blunders and seven traps that can lead to bad decisions. In his book, the author details each of these traps and blunders and how you can learn to spot and avoid them. This summary demonstrates how easy it is to replace your tactics and avoid these traps to increase your chances of success.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your knowledge
To learn more, read "Why Decisions Fail" and discover how you can learn from others' mistakes and stay on the path to success.
Das E-Book können Sie in Legimi-Apps oder einer beliebigen App lesen, die das folgende Format unterstützen:
Seitenzahl: 37
Veröffentlichungsjahr: 2014
Ähnliche
Book Presentation:Why Decisions Fail by Paul Nutt
Book Abstract
About the Author
Important Note About This Ebook
Summary of Why Decisions Fail (Paul Nutt)
1. The Three Blunders
2. The Seven Traps That Can Catch Decision Makers
3. How to Improve Your Chances of Success When Making Decisions
Book Presentation:Why Decisions Fail by Paul Nutt
Book Abstract
Main Idea
To make better decisions and avoid the debacles – those costly wrong decisions which become end up becoming public knowledge – you need to avoid the three blunders (which are present in all debacles) and the seven traps which can lead to bad decisions.
The three blunders are:
Rushing to judgement – before all the requisite information is at hand.Misusing resources – thereby squandering the opportunity to apply those resources more intelligently.Consistently applying failure-prone tactics rather than best practice tactics.These blunders in turn generate seven traps which can collectively or individually underpin bad decisions. The seven traps are:
Seizing the first idea that comes to mind – even if it doesn’t quite fit the circumstances.Ignoring potential problems and barriers – and plowing ahead in the belief everything can be sorted out at a later stage.Failing to specify clear-cut objectives – thereby allowing ambiguity to dilute organizational effectiveness.Being unwilling to look for better ideas and approaches than those already in use.Being selective in the collection and analysis of information – and only emphasizing the data which supports the decision.Leaving ethical questions in the background – to be sorted out later rather than sooner.Ignoring the opportunity to learn from previous mistakes – and making the same mistakes over and over.It is a quirk of human nature that for some reason, many decision makers consistently apply the tactics which have a poor track record of success. Just the simple act of replacing the widely adopted error-prone tactics with better tactics which avoid these seven traps would increase the chance of success by as much as 50-percent.
“My research shows that half of the decisions made in business and related organizations fail. The true failure rate may be higher because failed decisions that avoid a public airing are apt to be covered up. Considering the vast sums spent on these decisions and the benefits forgone, finding ways to avoid failure is vital.”
– Paul Nutt
About the Author
PAUL NUTT is a professor of management sciences and public policy in Ohio State University’s College of Business. A graduate of the University of Wisconsin – Madison and the University of Michigan, Dr. Nutt has written over 100 articles and six books. He specializes in studying how organizations make decisions. Dr. Nutt also serves on several editorial review boards, provides executive training programs and consults w ith a large number of businesses.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary of Why Decisions Fail (Paul Nutt)
1. The Three Blunders
The three blunders which are made most frequently in commercial decisions are:
Using failure-prone decision practices which have a poor track record of success.Making a premature commitment of valuable resources before all the facts are available.Spending time and money trying to show that what is being done will work eventually rather than backing a better approach.It’s very easy for people to make these blunders. To illustrate that fact, when 400 business decisions were collected and analyzed over a 20-year period, it was found these three blunders had resulted in bad decisions being made in 50-percent of these cases. And this analysis was limited to decisions which were publically discussed.
The three blunders which arise frequently and which help to generate bad decisions are:
The use of failure-prone tacticsMany managers are great at remembering their past successes but weak at systematically studying why some of their decisions failed in the past. Managers tend to spend little time thinking about how to make a decision. As a result, the decision making processes with a good track record of success are not widely known and discussed. Therefore, whenever a new decision needs to be made, there is no conscious decision to adopt the best practices or tactics which have worked well in the past.
Making premature commitments
