Well today I had three classes, statistics, leadership and problem framing. in the problem framing class, the professor referred to anchoring effect as well as reference point. Both of them are familiar to me in the book "Thinking Fast and Slow."So it was not that new to me but still the lecture was helpful encouraging me to think how I can make good decisions going forward. On the separate note, I found "Great job!! in the assignment I had submitted to the professor before. It made me feel nice.
In the leadership class, the professor unexpectedly recommend us to have meditation on daily basis even for a very short time. Since I know the effect of meditation, I sometimes did it but what I did not imagine was that she showed a short video on it and that we actually did a short meditation in the class. I now feel like doing meditation again as I used to do.
One minutes meditation
Today's Seminar
Less is More: How to Use Simple Rules for Better Results
- Strategy over time
- real-time
- short-term
- long-term
This is about the method for decision making in real-time. Agenda and simple comments for it.
- How do you make a fast decision
- Limit participation
- cut back on analysis and look at fewer alternatives
- But
- how decision makers overcome anxiety?
- how do decision makers make smart decisions?
- Making fast decision
- Speed myths
- less information
- fewer experts
- limit analysis
- Best practice
- successful fast decision makers use more not less, information organizations
- but that real-time information focused on internal operations and external makers
- Why?
- speeds issue identification
- see the timely information "what happening right now"
- builds intuition
- like playing a video game
- improves teamwork necessary to act quickly
- team role
- multiple alternatives
- Speed myths
- avoid lots of alternatives
- quickly pick an alternative analyze it and go
- Best practice
- successful fast decision makers consider more, not fewer, alternatives
- those alternatives are considered simultaneously, not sequentially
- like a car shopping. you can compare!
- Why?
- alternatives are hard to analyze in isolation
- reduces escalation of commitment to any one alternative
- you can avoid polarization
- creates a fallback position
- you can quickly shift to another choice
- Two-Tier Advice
- Speed myths
- centralized power
- limit participation
- Best practice
- seek counsel widely
- but have one or two experienced "counselors"
- older, experienced
- 10 to 20 years older than the team
- Why?
- get a broad range of ideas
- counselors are particularly quick, high quality and trustworthy
- trust the idea
- counselors provide confidence- not their first rodeo
- Consensus w/ qualification
- Speed myths
- reduce conflict
- don't worry about needing to resolve conflict. just decide
- Best practice
- try for consensus
- but if consensus doesn't happen, then have a way to make the call
- Why?
- copes directly with the conflict inherent in most important decisions
- it avoids waiting for outside events to force a decision
- slow decision makers wait for the deadline to come
- on the contrary, you should expedite the process
- it's popular
- Decision Integration
- Speed myths
- start with a blank slate
- take decisions one at a time
- Best practice
- integrate current decision with past and future ones
- tie into tactics like budgets
- have a worst case backup
- Why?
- speeds analysis of alternatives
- start to see strength and weakness on a focal point
- creates concrete understanding of the decision
- builds a sense of competence and control that the decision will be successful
- why is this process fast
- accelerates thinking- cognitive
- keeps team satisfied- political
- creates confidence to act- emotional
- Why does speed matter?
- more learning with more decisions
- capture opportunities sooner, faster and better than rivals
- you have to keep up with the train
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