Tag: Decision Making
Computer Games Used for Training in Decision Making
A prototype that could be used in computer games or e-learning to help train users in decision making is the focus of a study of researchers at Queen’s University Belfast. The theory is taht by using the game to help players improve their ability recognise and make allowances for their […]
Who Is Running The Business?
I have just been reading Robert Peston’s book Who Runs Britain? I recognised many parallels with Who Runs Business? With the Internet expanding the voice of shareholders across blogs, news sites and forums, is logical decision making being crowded out by shareholder pandering to silence the hounds. Just how much […]
The Serious Business of People
It is always mindful to remember that we must balance the powerful outputs of business intelligence technology, with the collective wisdom inherent in those minds which convert BI insight into decisions. The machine we use for thinking, our brain, networks with other brains in a kind of collective consciousness – […]
Aligning KPI, Business Rules and Decisions
Many businesses struggle with identifying their key performance indicators, from just performance indicators, and then reducing the number of KPI to those 3-4 that should be the primary focus at a particular time. They also fail to add one critical component to their KPI schedule that makes the difference as […]
Leadership Judgement vs. Rational Decision Making
Making judgement calls is an everyday activity for most leaders. But often, decisions are too complex to rely on gut feel or instinct. They require sufficient information to drive more logic based decisions. We start making judgement decisions from the day we are born, taking in all the environmental, comfort […]
Are We Getting Better At Decision Making?
I came across this video and it raised an interesting point – are we getting any better at decision making? Now the studies prove that we are not making better decisions, but are we any better at how we approach our decisions? According to this video the anwer is NO! […]
The Dangers of Relying on Long-Term Memory in Decision Making
I often get challenged when I suggest that most of us have pretty poor long term recall. Admittedly, I too once believed that about myself – and worse, I still do believe that! And this committed, falsely held opinion is the very essence of why business leaders and decision makers […]
Good Decision Making Survey Results
Consulting group McKinsey has released the results of its recent global survey [November 2008] of over 2000 corporate executives on their decision making processes and outcomes. This included questions pertaining to: Decision makers involved Drivers of the decisions Depth of analysis Openness of the discussions Impact of Politics on […]
BI Helps Overcome The Dominant Logic
Business Intelligence has many benefits, not directly attributed to the technology. Apart from providing current data and analytical capability, BI tools can help overcome cultural issues such as what Professor Josep Valor, Sabatier of the IESE Business School of Navarra, Spain, describes as the “dominant logic” of a company. According […]
Decision Making in Times of Good Performance
The performance you measure today is a result of the decisions you made in the past. Many organisations mistakenly believe that if the numbers are good, then staying the course is a viable option. Yet the decisions made yesterday were based on yesterdays environment. The business world is littered with […]