Comments on: Don’t jump to conclusions… http://dougist.com/2008/10/dont-jump-to-conclusions/ Douglas Barone Sat, 31 Dec 2011 03:58:19 +0000 hourly 1 By: Doug http://dougist.com/2008/10/dont-jump-to-conclusions/comment-page-1/#comment-4273 Doug Tue, 18 May 2010 17:17:55 +0000 http://dougist.com/?p=46#comment-4273 <p>They guys at McKinsey has been doing a lot of work in this area....</p> <p>"Yet very few corporate strategists making important decisions consciously take into account the cognitive biases—systematic tendencies to deviate from rational calculations—revealed by behavioral economics. It’s easy to see why: unlike in fields such as finance and marketing, where executives can use psychology to make the most of the biases residing in others, in strategic decision making leaders need to recognize their own biases. So despite growing awareness of behavioral economics and numerous efforts by management writers, including ourselves, to make the case for its application, most executives have a justifiably difficult time knowing how to harness its power."</p> <p>http://www.mckinseyquarterly.com/The_case_for_behavioral_strategy_2551</p> They guys at McKinsey has been doing a lot of work in this area….

“Yet very few corporate strategists making important decisions consciously take into account the cognitive biases—systematic tendencies to deviate from rational calculations—revealed by behavioral economics. It’s easy to see why: unlike in fields such as finance and marketing, where executives can use psychology to make the most of the biases residing in others, in strategic decision making leaders need to recognize their own biases. So despite growing awareness of behavioral economics and numerous efforts by management writers, including ourselves, to make the case for its application, most executives have a justifiably difficult time knowing how to harness its power.”

http://www.mckinseyquarterly.com/The_case_for_behavioral_strategy_2551

]]> By: Mike Ebmeier http://dougist.com/2008/10/dont-jump-to-conclusions/comment-page-1/#comment-4272 Mike Ebmeier Tue, 18 May 2010 17:08:50 +0000 http://dougist.com/?p=46#comment-4272 <p>One of the quotes that has become part of my foundational set of ideas come from political scientist, C. Richard Hoffstetter. I don't recall the book, but the quote was, "Sometimes there's nothing more misleading than personal experience.". It referred to the errant inference of causality.</p> One of the quotes that has become part of my foundational set of ideas come from political scientist, C. Richard Hoffstetter. I don’t recall the book, but the quote was, “Sometimes there’s nothing more misleading than personal experience.”. It referred to the errant inference of causality.

]]> By: Doug http://dougist.com/2008/10/dont-jump-to-conclusions/comment-page-1/#comment-154 Doug Tue, 28 Oct 2008 11:21:37 +0000 http://dougist.com/?p=46#comment-154 <p>Thanks Erin,</p> <p>Who ever said that philosophy doesn't matter...</p> Thanks Erin,

Who ever said that philosophy doesn’t matter…

]]> By: Erin C. http://dougist.com/2008/10/dont-jump-to-conclusions/comment-page-1/#comment-153 Erin C. Tue, 28 Oct 2008 04:07:54 +0000 http://dougist.com/?p=46#comment-153 <p>Yeah, I apply this same logic to buying music albums. There need to be three great singles in order to justify buying the whole album. One and Two just won't do. The Rule of Three is a good application in MANY instances... =)</p> Yeah, I apply this same logic to buying music albums. There need to be three great singles in order to justify buying the whole album. One and Two just won’t do. The Rule of Three is a good application in MANY instances… =)

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