Decision Quality: Value Creation from Better Business Decisions

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John Wiley & Sons, Mar 7, 2016 - Business & Economics - 256 pages
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Add value with every decision using a simple yet powerful framework

Few things are as valuable in business, and in life, as the ability to make good decisions. Can you imagine how much more rewarding your life and your business would be if every decision you made were the best it could be? Decision Quality empowers you to make the best possible choice and get more of what you truly want from every decision.

Dr. Carl Spetzler is a leader in the field of decision science and has worked with organizations across industries to improve their decision-making capabilities. He and his co-authors, all experienced consultants and educators in this field, show you how to frame a problem or opportunity, create a set of attractive alternatives, identify relevant uncertain information, clarify the values that are important in the decision, apply tools of analysis, and develop buy-in among stakeholders. Their straightforward approach is elegantly simple, yet practical and powerful. It can be applied to all types of decisions.

Our business and our personal lives are marked by a stream of decisions. Some are small. Some are large. Some are life-altering or strategic. How well we make those decisions truly matters. This book gives you a framework and thinking tools that will help you to improve the odds of getting more of what you value from every choice. You will learn:

  • The six requirements for decision quality, and how to apply them
  • The difference between a good decision and a good outcome
  • Why a decision can only be as good as the best of the available alternatives
  • Methods for making both "significant" and strategic decisions
  • The mental traps that undermine decision quality and how to avoid them
  • How to deal with uncertainty—a factor in every important choice
  • How to judge the quality of a decision at the time you're making it
  • How organizations have benefited from building quality into their decisions.

Many people are satisfied with 'good enough' when making important decisions. This book provides a method that will take you and your co-workers beyond 'good enough' to true Decision Quality.

 

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Contents

The Power of Decisions
3
The Requirements for Decision Quality
11
Getting to Decision Quality
21
Contents
32
Creative Alternatives
51
Relevant and Reliable Information
65
Clear Values and Tradeoffs
81
Sound Reasoning
93
Social Influences
137
Megabiases that Undermine DQ
143
The Agreement Trap
149
Contents
152
Achieving Quality in Significant Decisions
169
PART IV
189
Building Organizational Decision Quality
205
Embarking on the DQ Journey
215

Commitment to Action
111
PART III
121
Personality and Habits
128

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About the author (2016)

CARL SPETZLER is the cofounder, chairman, and CEO of Strategic Decisions Group (SDG), a leading strategy consulting firm renowned for its expertise in strategic decision- making for greater value creation.

HANNAH WINTER is a partner, strategy consultant, and educator with SDG, where she leads the firm's 10-year education partnership with Stanford in strategic decision making.

JENNIFER MEYER leads client engagements at SDG, resulting in hundreds of millions of dollars in added value through better strategic decisions.

More at Strategic Decisions Group's website

www.sdg.com

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