Decision quality : value creation from better business decisions / / Carl Spetzler, Hannah Winter, Jennifer Meyer

• Record Nr.: UNINA9910823602103321
• Autore: Spetzler Carl S.
• Pubbl/distr/stampa: Hoboken, New Jersey : , : Wiley, , 2016; ©2016
• ISBN: 1-119-14469-8; 1-119-14468-X
• Descrizione fisica: 1 online resource (259 p.)
• Collana: THEi Wiley ebooks
• Classificazione: BUS019000
• Disciplina: 658.4/03
• Soggetti: Decision making
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: Decision Quality: Value Creation from Better Business Decisions; Contents; Acknowledgments; Preface; Part I: The Decision Quality Framework; 1: The Power of Decisions; Decision Quality: A Framework for Better Decisions; Decision Skills Can Be Learned; Decisions versus Outcomes; Key Points to Remember; Endnotes; 2: The Requirements for Decision Quality; The Appropriate Frame; Creative Alternatives; Relevant and Reliable Information; Clear Values and Tradeoffs; Sound Reasoning; Commitment to Action; Judging the Quality of a Decision; Key Points to Remember; Endnotes; 3: Getting to Decision QualityDeclaring the Need for a Decision; Setting the Decision Agenda; Understanding the Destination of Decision Quality; Avoiding Decision Traps and Biases; Designing the Decision Process through Diagnosis; Magnitude; Organizational and Analytical Complexity; Content Challenge; Likely Decision Traps; Tailoring to Fit the Decision; Key Points to Remember; Endnotes; Part II: The Six Requirements for DQ; 4: The Appropriate Frame; A Friday Afternoon Dilemma; The Key Components of a Frame; Purpose; Perspective; Scope; Framing the Friday Afternoon Dilemma; An Extended Example: The House DecisionDeveloping an Appropriate Frame; The Decision Hierarchy: A Tool for Framing; Things that Can Go Wrong; Judging the Quality of a Decision Frame; Key Points to Remember; Endnotes; 5: Creative Alternatives; Characteristics of Good ; Alternatives; The Strategy Table: A Tool for Defining Alternatives; Things That Can Go Wrong; Judging the Quality of Alternatives; Key Points to Remember; Endnotes; 6: Relevant and Reliable Information; Information from a Decision Perspective; An Extended Example: Michael's Job Choice; Structuring the Relevant Information in a DecisionThe Decision Tree: A Tool for Structuring a Decision; What Is Reliable?; Things That Can Go Wrong; Judging the Quality of Information; Key Points to Remember; Endnotes; 7: Clear Values and Tradeoffs; Values and Tradeoffs for Decisions; Michael's Values and Tradeoffs; Values in a Business Context; Making Tradeoffs in Business Decisions; Step 1: Substitute Equivalent Monetary Amounts for Intangible Values; Step 2: Substitute Present Equivalent for Cash Flows Over Time; Step 3A: Substitute Expected Value for Uncertain Outcomes; Step 3B: If Needed, Use Risk Appetite to Calculate Certain EquivalentsThings That Can Go Wrong; Judging the Quality of Values; Key Points to Remember; Endnotes; 8: Sound Reasoning; Reasoning for Michael's Job Decision; Reasoning in More Complex Decisions; The Relevance Diagram: A Tool for Structuring Complex Decisions; The Decision Model: A Tool for Analyzing Complex Decisions; The Tornado Diagram: A Tool for Displaying the Relevance of Information; Flying Bars: A Tool for Displaying Overall Uncertainty; Things That Can Go Wrong; When to Get Help with Reasoning; The Power of Iterating from a Simple Start
• Sommario/riassunto: "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 element of decisions 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 alternative 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"-- Provided by publisher.; "Aimed at executive and management-level decision makers in every industry, Decision Quality: Value Creation from Better Business ; Decisions provides a proven and real-world-tested framework for improving business decision quality"-- Provided by publisher.