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Smart Choices: A Practical Guide to Making Better DecisionsBy John S. Hammond, Ralph L. Keeney, Howard Raiffa
PDF Download Smart Choices: A Practical Guide to Making Better DecisionsBy John S. Hammond, Ralph L. Keeney, Howard Raiffa
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Where should I live? Is it time to get a new job? Which job candidate should I hire? What business strategy should I pursue?
We spend the majority of our lives making decisions, both big and small. Yet, even though our success is largely determined by the choices that we make, very few of us are equipped with useful decision-making skills. Because of this, we often approach our choices tentatively, or even fearfully, and avoid giving them the time and thought required to put our best foot forward.
In Smart Choices, John Hammond, Ralph Keeney, and Howard Raiffa—experts with over 100 years of experience resolving complex decision problems—offer a proven, straightforward, and flexible roadmap for making better and more impactful decisions, and offer the tools to achieve your goals in every aspect of your life.
Their step-by-step, divide-and conquer approach will teach you how to:
• Evaluate your plans
• Break your potential decision into its key elements
• Identify the key drivers that are most relevant to your goals
• Apply systematic thinking
• Use the right information to make the smartest choice
Smart Choices doesn’t tell you what to decide; it tells you how. As you routinely use the process, you’ll become more confident in your ability to make decisions at work and at home. And, more importantly, by applying its time-tested methods, you’ll make better decisions going forward.
Be proactive. Don’t wait until a decision is forced on you—or made for you. Seek out decisions that advance your long-term goals, values, and beliefs. Take charge of your life by making Smart Choices a lifetime habit.
- Sales Rank: #53802 in Books
- Published on: 2015-08-25
- Original language: English
- Number of items: 1
- Dimensions: 8.30" h x 1.00" w x 5.70" l, 1.58 pounds
- Binding: Hardcover
- 256 pages
Amazon.com Review
Have you ever hired someone only to regret your decision two months later? Or looked at your financial portfolio and wondered why you bought the stocks you did? In Smart Choices, authors John S. Hammond, Ralph L. Keeney, and Howard Raiffa take the guesswork out of the decision-making process and offer a systematic approach to making the right choice. Most of us have problems making decisions, because we've never learned how. The authors write: Despite the importance of decision making to our lives, few of us ever receive any training in it. So we are left to learn from experience. But experience is a costly, inefficient teacher that teaches us bad habits along with good ones. Because decision situations vary so markedly, the experience of making one important decision often seems of little use when facing the next. Smart Choices outlines eight elements involved in making the right decision, from identifying exactly what the decision is and specifying your objectives to considering risk tolerance and looking at how what you decide on today influences what you may decide in the future. The book is full of real-life situations and scenarios that effectively illustrate each element of a good decision. If you think the topic of making the right choice is mundane or a simple matter of common sense, then think again. Smart Choices will relieve you of the regret that so many of us carry because we didn't know how to "think it through." --Harry C. Edwards
From Publishers Weekly
In 1966, the Lovin' Spoonful had a #2 hit with "Did You Ever Have to Make Up Your Mind?" Two years later, Raiffa answered that question for a generation of academics with his book Decision Analysis, whose argumentAthat decision-making skills can be learned and applied as a discipline of their ownAmade Raiffa deeply influential in management and social science. Raiffa (a former professor at Harvard Business School), his longtime associate Hammond (a professor of management and engineering at the University of Southern California) and Ralph Keeney (The Art and Science of Negotiation) here explain decision-analysis techniques and stratagems for the benefit of nonspecialists. They provide substantial, straightforward explanations of concepts (risk tolerance, sunk costs, desirability curves) that sound arcane but may help readers to buy the right car, choose a mutual fund, decide on a school, or plan a vacation. Unfortunately, the lingo of self-help often substitutes for the jargon of management consulting, as when Raiffa's famous five decision steps become the trendy acronym PrOACT. And the example problems can seem clich?d, two-dimensional or implausible, even when based on fact. Nevertheless, recommendations like "Remember that the value of an incremental change depends on what you start with" and "Make sure your subordinates reflect your organization's risk tolerance in their decisions" are, at the least, good reminders that the logic of decision making is often counterintuitive; at best, they are an important, useful set of insights.
Copyright 1998 Reed Business Information, Inc.
From Booklist
The three authors, all of whom come from academic backgrounds and specialize in decision science, argue that "making smart choices is a fundamental life skill" that can be taught. They provide a practical model for decision making and demonstrate that it can be applied in both personal and business situations. They show that the key is to break the decision into its individual elements, identify those that are most important, and analyze potential outcomes. The authors also stress that decisions should be made before they turn into problems. Their so-called PROACTive approach can be broken down mnemonically. Identify the PRoblem, specify the Objectives, create Alternatives, understand the Consequences, and weigh the Trade-offs. Following these steps, one must clarify uncertainty, assess risks, and be aware of what other choices a decision might create. From choosing a career to planning an employee party, the authors use a wide range of examples to demonstrate their approach. David Rouse
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