Decision Making Essentials You Always Wanted to Know (eBook)

Introduction to Decision Making Scenario Planning and Prediction MarketsGroup MechanicsHeuristics and Programmed DecisionsProbability and Base Rate Neglect Decision Making Essentials You Always Wanted to Know prepares new managers and leaders to assess tough decisions they face- and eventually make the right choice- by providing them with a tool box of decision analysis techniques to help them understandand analyze the decisions they make.The chapters describe key techniques of decision analysis, including: Cognitive biases and Prospect Theory Heuristics Probability and Expected Value Bayes Theorem Multi-attribute decision making, including the SMART, Elimination by Aspects, and Even Swaps methods Game Theory Prediction MarketsBrainstorming and Groupthink Black Swan Events Each chapter provides clear examples of the decision making tools and includes practice examples to help train the reader in using these critical tools. About the SeriesThe Self-Learning Management series is designed to help students, new managers, career switchers and entrepreneurs learn essential management lessons. This series has management books, finance and accounting books, and strategy and marketing books designed to address every aspect of business from HR to Finance to Marketing to Operations. Each book includes basic fundamentals, important concepts, standard and well-known principles as well as practical ways of application of the subject matter. The distinctiveness of the series lies in that all the relevant information is bundled in a compact form that is very easy to interpret.