Decision-making and Valuation.
Methods, Models and Theories
12manage reaches 100.000 members
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Decision-making and Valuation.Methods, Models and Theories |
12manage reaches 100.000 members |
Decision-Making and Valuation. Methods, Models and Theories (A-Z) |
Decision-making and Valuation Community of Interest
Decision-making and Valuation Forum
Decision-making and Valuation Education & Events
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| ● (Netherlands) | Optimism in Making Decisions | "Interesting question Herman... I believe multiple reasons / mechanisms are involved. One is because of organizational pressure (only the best proposals make it, so we present our projects overoptimistic, groupthink). Another thing is we know that quite often in (organizational) cultures optimists are being regarded and rewarded higher than pessimists (tough-guy macho culture). Thirdly, our brain may be fooling us (cognitive bias). For example the bandwagon effect and being overconfident about our ability to control outcomes. There could be quite a few more I suspect?" |
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| ● (USA) | Optimism and Decision Making | "Herman - it does have an effect - and can skew results - people will see what they want to see. Also, how you see your future will affect the future. Can you let data drive the decision-making process? It's not easy." |
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| ● Georg (Deutschland) | Forget it! | "I doubt if this going to work for most firms. Most top managers are too proud, heroic or even arrogant to organise criticism on their decisions, although I can see there might be benefits for their firms and themselves." | |
| ● S Ramanathan (India) | Decision Making | "Decision making is a complex process. It calls for a judicious selection of one of the several alternative courses of action by applying an appropriate management accounting technique." |
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| ● Ed (USA) | Gut Level Values | "This was from Morris Massey, available from CRM video, it is 2 1/2 hours long, he was a consultant and professor from University of CO...and in the 1980s this was the landmark stuff on values, recognition and teambuilding!! I think the models all have a place, but recognize that most corporations are demanding decisions and a hurried exec may not have time to consider their process let alone all the parameters of a decision. That is why they need us OD types ....to slow them down to a more systematic, conceptural process-driven behavior! BTW I am ENFP....lol" | |
| ● jan.hann (usa) | Morris Massey | "He also has a new video - available from Carlson Learning" | |
| ● Kelley (USA) | "You are who you were when" | "Hi, My father has spoken of this video so many times. He is 76 years old and was working for Union Carbide" when he saw it. The video made a lasting impression on his life and he has referenced it numerous times. He mentioned it again tonight 9-3-09. I am a psychotherapist and I would LOVE to see/own the video. Did you have any luck finding it? From the website I am on, I can't tell when you posted your comment. I just hope you are still checking it.... I would be forever grateful to anyone that has access to this video. Actually, it was probably a movie when it was shown. Thanks, Kelley " |
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| ● Leo1 (NZ) | Decision-making | "I agree it's about gut feel and knowing your Values." | |
| ● Brendan Dunphy (France) | Gut feeling Approach | "And how do you think Dale we develop our 'gut feeling approach'? It may seem that it is instinctive but in reality it has developed over time and as a result of much conscious and unconscious self-analysis, observation, questioning etc. To deny 'rational decision-making methods' for managers (or anyone else) can only serve to lessen our ability to make better decisions 'instinctively' when we need to." | |
| ● Paul Ward (USA) | Rational decision making! | "I hope I never work at a company that believes only in gut feeling approaches to decision making, and eschews rational decision-making models. One of the key contributions of management theory, and Kahneman's work, is that we can know our biases at some level, so that we can make better decisions. Complexity isn't just about things being complicated. It's about how something qualitatively different from the basic dynamics of the system emerges from that system. If a manager just stays within the system and never looks at what is emerging, and why, that manager is, as they say, toast. I'd be very interested in seeing Barbara's and Dale's Myers Brigg Scores. MBTI is a perfect example of identifying biases ..." | |
| ● (Philippines) | Rational Decision Making | "I think the Gut Feeling Approach is only applicable for a situation where you need "a right away decision" or an unexpected situations that needs an immediate decision. However, i want to emphasize what Mr. Warren Buffet said "I put a heavy weight on certainty. If you do that the whole idea of a risk factor doesn't make sense to me. Risk comes from not knowing what you are doing"" | |
| ● (UK) | Rational Decision Making | "I think it is more about helping groups understand why they make the decisions they do or how they arrived at them. We deploy Multi Criteria Decision Analysis using Decision Conferencing and the value of this is in the social interaction and the breaking up of complex decisions into their component parts. In essence it utilises a lot of gut feel but at least we understand what is driving our gut the most!" |
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