10 Thoughts On Reading "Stanford Business Decision Course"

 

　"Stanford Business Decision Course" is a hardcover book published by Carl Spitzler, Hannah Winter, Jennifer Meyer and published by Hunan Literature and Art Publishing House. The price of this book is 49.00. The number of pages: 288. The article bar editor carefully sorted out some readers ' thoughts , I hope it will be helpful to everyone .

　

　After reading "Stanford Business Decision Course" (1): How to make a good decision?

　　Saw a book club, he said: with the "Harvard", "Stanford" prefix courses or books , albeit a market marketing tools , but how much paste is suspect. Seen, this means well-known universities to promote the book method actually less for the reader favorite, but seemed a bit LOW, of course, this book is actually a prefix plus Stanford no right , as a Stanford University strategic decision-making and risk management ( The designated textbook of the SDRM certification program and the lecturer of this course, the author is from the Strategic Decision Group (SDG) Carl Spitzler and his two colleagues Hannah Winter and Jennifer Meyer senior business decisions education team with the school prefix nothing wrong places . This three-person team has been committed to practicing and improving the high-quality decision-making professional system they proposed for many years , and helping leaders around the worldImprove the quality of business decisions . You may think, why should I learn this kind of thing , I am not a business manager, then you are wrong, learning business decision-making, we are not managers, we can learn, learn this kind of thinking , and apply it to us It can also achieve quite good results in life and work .

　　The core framework of this book comes from decades of deep accumulation in decision theory , behavioral decision science and hands-on practice of the three authors . From the book, you can obtain practical methodology that can be used for various decision-making, from business to personal , from big game to small decision , no matter what level you are in , what profession, and what industry . Each chapter presents focused courses, opinions and cases to help you make quality decisions. So, where do we use these decision-making methods? What can they do? For example: to help us avoid most common pitfalls of misleading decision-making; when we make a decision, accurately judge the quality of your decision; help us build confidence in today's uncertainty ; ensure that we achieve a win-win situation in the implementation of decisions. . . . . . It can be seen that as long as you are in the workplace , even if you are not a manager, you still need to learn how to make decisions, and this book is your best choice.

　　This book four part content step by step , through the first part of our understanding of decision-making importance and quality of decision-making power , the second part of the start of the six elements of quality decisions to parse, so that we know to be high-quality decisions need to pay attention to the following six gist: 1, appropriate framework; 2, creative options; 3, relevant and reliable information ; 4, clear the value and trade-offs; 5, fully demonstrated; 6, put into action . By understanding these decision-making factors, the decision to master the corresponding tool (third part of how to do teaching ), at an appropriate of time continue to use the knowledge and tools to think , slowly realized thinking mode transformation, and ultimately achieve in Part IV As I said, in the face of problems , you can have : 

　　Learn how to make decisions, and in many cases can determine the "survival" of you and your company . This book is for the workplace who is really a non- normal good , recommended reading .

　　After reading "Stanford Business Decision Course" (2): Decision-making is a technical activity

　　Decision-making is a technical activity

　　Comment on "Stanford Business Decision Class"

　　Courses or books with the prefixes of "Harvard" and "Stanford", although they are a marketing tool, are somewhat suspected of being paid. This kind of general-purpose book may not be liked by many readers , but for those who really need to make decisions, carefully study some of the key points and use them in their work and life to get better Effective.

　　For many entrepreneurs, business decision-making is a task that tests experience and wisdom , because once the decision is determined, the flow of funds and the focus of management are determined, and the corresponding efforts and efforts must be matched. This kind of decision-making What is considered is the management ’s analysis of the current situation and the judgment of the future . In the book "Stanford Business Decision Course", the author surprisingly dissected this decision-making process and identified six elements in the process: appropriate framework and creativity The options, relevant and reliable information, clear values ​​and trade-offs, fully demonstrated, put into action, and borrow some business cases to explain how to make scientific decisions. We are wrestling with the decision-making or decision-making before the final word impression of different authors believe that through the analysis after the decision "is more like a technology live."

　　Business decisions involving complex 's background and tedious calculations, in which the scenario analysis and cost -effectiveness comparison requires a certain theoretical business foundation for future expectations and bear the consequences on a lot of uncertainty behind many decisions and even Psychological factors of adventure and speculation are at fault. According to my own understanding, I still support the author’s point of view. When facing a decision, we may first analyze the background and current situation of the decision to determine the appropriate framework for thinking and research; combining our own platform resources and human resources , Financial resources and other conditions , propose some solutions or options; collect relevant information about these solutions or options to ensure that you can fully understand and master the pros and cons; combine the value judgment of the company and your own experience and wisdom to use mature business The calculation tool weighs all plans or options; after sufficient comparison and demonstration, the final plan is determined and implemented (if it is possible to make appropriate revisions and improvements to the decision during the implementation process), this It is the real process of decision-making.

　　In fact, not just business decisions require the system to think of, this mode of thinking also applies to decisions in our work and in life, non-commercial decision can also use the framework, options, information, trade-offs, demonstration and implementation of several elements of , It will also avoid our cognitive biases and deviations in calculations to help us achieve better decision-making results. People are the sum of various social relations . In the process of decision-making, decision-makers need to determine their own thoughts in various social relations , and carry out thinking and decision-making in simple or complex environments , and at the same time bear the results of decision-making. .

　　Life is the sum of all choices , and it is necessary for us to make our decisions more scientific.

　　2017-6-13

　　"Stanford Business Decision Course" Thoughts on Reading (3): Make a good decision, and only when you encounter problems , you can plan

　　Decision-making is inseparable from work and life. Only good decisions can grasp the dynamics of things and plan tactics. It is a pity that scientific, effective , and correct decision-making in business activities is a necessary ability for managers . "Stanford Business Decision Course" is a book that tells us how managers implement "optimal strategies". Help us maximize our value and control every risk. Let us understand what a quality decision is. What are the requirements for high-quality decision-making? How can we achieve high-quality decision-making through practice?

　　Reading "Stanford Business Decision Class", first of all, I was attracted by the words "Stanford". When I opened the book, I saw the "dry goods" brought to us by Carl Spezler, Hannah Winter and Jennifer Meyer. Why is it dry goods? Because this book is the designated textbook of Stanford University's strategic decision and risk management certification program. It is the author’s team for more than 40 years, active around the leaders of different industries across the country and summed up practical experience.

Sources of　　high-quality decision-making : a better decision-making framework

　　The book "Stanford Business Decision Course" makes readers realize that their decision-making can be improved, and teaches us a framework for high-quality decision-making. The data tells us through specific data and cases: the direct gap between "good enough" and "best" strategies . The "best strategy" can bring greater benefits to the enterprise . Fortunately, the ability to make the "best strategy" can be trained. Data from the start about the framework decision, could go on to tell us how to achieve quality decisions in everyday life.

　　Six elements of high-quality decision-making:

　　To make high-quality decisions, you need to pay attention to the following six main points: 1. Appropriate framework; 2. Creative options; 3. Relevant and reliable information; 4. Clear values ​​and trade-offs; 5. Full demonstration; 6. Put into action. Only a clear understanding of these decision-making elements, master the corresponding feel tools, and consciously use these tools to think when making decisions , and finally realize the transformation of thinking mode. Eventually form the ability to face problems, know what you should do and what is the best option. Recognize decision-making biases: Multiple factors such as a person’s knowledge, thinking mode, and the influence of people around will affect a person’s decision-making. Books tell us about the obstacles often encountered in the process of high-quality decision-making, and let us understand the biases and pitfalls in the composition of decision-making. : Thinking mechanism, personal character and habits , wrong argumentation, etc. Because understanding clearly can effectively avoid targeted making more high-quality strategic decisions.

　　In business activities, there are many decision-making activities, but there are few high-quality decisions. Decision-makers can only make high-quality decisions if they consider the problem at a sufficient height . Because in the process of decision-making, it is necessary for decision-makers to specifically discover problems, determine goals , determine evaluation standards , plan formulation, plan selection, and plan implementation. This process will involve economic science, organizational behavior also, or psychology, and many other integrated disciplines and so on.

　　"Stanford Business Decision Class" graphic + case. In the process of reading, you can get a lot of practical methodologies that can be used in various decision-making. This knowledge is useful both from a business and personal perspective . The big game in books to the small choices in life. Following the views in the book can help us make better decisions. (If you like decision-making and games, you can look for information : Wise Pig Game, Prisoner Game, Beauty Coin, etc. for reading)

　　Thoughts on Reading "Stanford Business Decision Course" (4): Six elements of high-quality decision-making and common misunderstandings

　　We live tracks are always a variety of decision-driven, small to what school, what kind of professional reading, large company's business direction and key purpose of investment . Whether it is big or small, trivial or earth-shattering , our lives and organizations have become better or worse under the shaping of decisions.

　　Decision-making plays a very important role in shaping our lives and future , so learning how to make good decisions should be the most important thing in our lives . The author of "Stanford Business Decision Course" is the American strategic group Karl Spitzler and his senior business team education team. They have perfected the high-quality decision-making professional system in practice and classroom for many years . At the same time, they are also active around leaders in all walks of life around the world to help them improve the quality of decision-making.

　　"Stanford business decisions lesson" in providing the reader with a perfect decision-making framework, decision-making clearer decision-making ideas . Especially valuable is that the author also highlights the common misunderstandings in the six elements of decision-making and the prejudices that most people will have , which can enable decision-makers to avoid mistakes.

　　The six elements of high-quality decision-making are necessary conditions for a high-quality decision :

　　1. Appropriate framework: The framework answers "what problem are we trying to solve"

　　Decision-making is not all-inclusive. Many times, the decision is like a bowl of pasta: pulling one piece of noodle will bring out many others. We must solve the intertwined problems and define a solvable problem with a suitable framework. The development of a framework begins when asking effective questions such as the purpose of the decision, and when examining various viewpoints. Defining the problem to be solved is the most basic part of every important decision and requires conscious attention.

　　Things that might go wrong:

　　Distorting the situation to adapt to our preconceived biases is called " comfort zone bias": we drag problems into our comfort zone, solving problems that we know how to solve, not problems that need to be solved. Another mistake is to focus on the fastest or easiest way to reach agreement on framework issues . Unconsciously wishing to simplify, or wishing to act quickly or avoid conflict, finally came up with an overly limited framework, which is the "narrow framework."

　　2 Creative options: The value of a decision cannot be greater than the value of the best available option. It lists a set of very good option key . Good options are creative, covering a variety of possibilities, another difference is remarkable, is the alternative reasonable competition entries, attractive cut viable, while a controlled amount.

Features of　　good options :

　　Be creative, these options are beyond the norm. Creative thinking usually does not include options that contain a lot of unexpected potential value.

　　Significant differences, significant differences in options challenge the current way of thinking and solve problems in a whole new way.

Representative of a　　wide range of options , two options are rarely enough. Options should cover all possible options, because man is always impossible to know in advance the maximum value of the source of where to hide.

　　For reasonable competition items to choose from, each option should be truly selectable. We should not despise an option too soon because it feels that it will be denied. An option that is logical, represents true value, and properly described can compete with other options.

　　is attractive

　　Feasible options that can actually be implemented.

　　Controllable quantity. In relatively simple decision-making problems, three or four options may be sufficient, while more complex decision-making problems may require 4-7 options or more.

　　Things that might go wrong:

　　One of the challenges encountered in generating high-value options is that humans tend to grasp the first acceptable option---the "good enough" syndrome. "Good enough" may be the simplest and most convenient course of action but rarely the most rewarding one. We can all be more successful by developing the habit of pursuing maximum value in major decision-making situations .

　　3. Relevant and reliable information. All decisions are future-oriented, but future facts do not exist. Past and present facts and data must be converted into future judgments. Decisions about the uncertain future must be interpreted in terms of probability and probability. Decision makers need relevant and reliable information to make good decisions.

　　Things that might go wrong:

　　When searching for information, decision makers should dike:

　　● Sources of bias

　　● Wrong data

　　● Information sources without professional knowledge

　　● Deliberately select information that proves a certain conclusion

　　● Only the impulse to search for information that supports biased views and assumptions

　　● Ego-think that you know more than you actually know

　　4. Clear values ​​and trade-offs. The goal of our decision-making is to maximize what we really want --- in decision-making, value is what we pay attention to when comparing options. For most companies, the ultimate direct value is shareholder value—the economic value of the company, and is usually measured by the net present value of future cash flows.

　　Value clarity is essential for high-quality decision-making , but many things can become obstacles. Pay attention to the following matters when dealing with value:

　　● lack of clear discussion of trade-offs between value and value and consistent view

　　● not limited set a good value or not meaningful measure of value and investment in the future

　　● Focus on indirect value rather than direct value

　　● Improper discount rate, unreasonable risk adjustment and wrong estimation of intangible value

　　5. Full argumentation Full argumentation considers our problem or opportunity framework, as well as what we can do and what we know, and expose the choices that can maximize the realization of what we really want. When complexity and uncertainty are high, strategic decision-making tools are needed.

　　Things that may go wrong: The main error that may occur in the full argument is that people are not clear enough. Many people spare no effort to consider information and value, but they do not take the necessary next step: build a decision tree, specify the probability and value in detail, and proceed with simple Mathematical calculations.

　　6. Putting it into action, before we actually act, knowing what to do-the best option-is just a purpose. True value creation requires both decision making and execution. The principles and techniques of execution are completely different from decision-making.

　　It is often easier to understand something than to execute it. The decision-making ideas provided by the "Stanford Business Decision Course" are clear and reliable, but in practical applications, decision-makers need to carefully compare and think, because many things that may go wrong are caused by our inherent thinking, and the change of thinking It requires us to consciously adjust and control.

　　Thoughts on Reading "Stanford Business Decision Course" (5): Making Decisions Based on the Modern Times

　　The advent of the era of big data has brought a great impact to today's business. Most e-commerce merchants are all "talking about big data discoloration", and they are in a wait-and-see, confused, and helpless state. This "Stanford Business Decision Class" has insights into more opportunities for business development in the entire era and the establishment and use of data frameworks, and shows us clearly the indicators of data value. The main purpose of this book is to change the way of thinking and learn to do scientifically. A good decision can change the future of data and business.

　　When you have countless employees, decision-making is particularly important. You must be cautious and cautious, but for those who are not at the top, a good decision is often ignored by them, which actually has a great impact , Not only for the company itself, but also for their promotion will have a bad impact. The authors of this book are all very professional decision-making leaders. After years of practical experience, they have summed up the essence of this book and helped people make a change in their thinking. Whether you make a big or small decision, you must take it seriously. This is also a quality that a leader must possess.

　　In today's era, decision-making is nothing more than statistical data, which generates commercial value. Now through these physical data, we can make certain predictions, and such decisions are permanent. However, the more experience is not the better. Some people just make some decisions that are extremely stable but not challenging because of too much experience. However, looking at the current business development, it is difficult not to take some risks. Separated from the bottom. But these risks are all controllable, and they don't do things blindly. In this way, the book fully reflects the value.

　　The so-called high-quality decision-making requires the following elements:

　　1. Appropriate framework;

　　2. Creative options;

　　3. Relevant and reliable information;

　　4. Clear values ​​and trade-offs;

　　5. Fully demonstrate;

　　6. Take action.

　　There are detailed explanations for each point in the book. Of course, this is not an absolute standard for measuring a good decision, but if these points are met, it means that your thinking direction is right. In ancient times, counsellors always offered tricks to others, but leaders still needed to stay sober and could not obey others blindly, because after all, the power was still in their own hands. Sometimes even if most people are against it, you have to stick to your own ideas if you think it is right to do so.

　　This article  will help clarify your thinking and reflect your personal value in your life. Even if you are not a business person, you can still read this article and learn a lot of practical knowledge and skills.