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Escalation in Decision-Making
When a venture seems to be faltering, do you persist and hope that things will get better or do you cut your losses? This may be one of the most important decisions business or project owners may ever have to make. Persistence involves the risk of throwing good money (or resources) after bad, but owners may feel they have too much invested to quit now. Escalation in Decision-Making reveals why social scientists believe that owners may not respond rationally to such predicaments. Instead of exiting when the odds are clearly stacked against them, they re-invest and end up compounding their losses - a phenomenon known as escalation of commitment. The authors, Helga Drummond and Julia Hodgson, a...
Guide to Decision Making
A comprehensive look at decision-making practices and what can be done to eradicate errors Designed to help companies in any industry make fewer mistakes, The Economist Guide to Decision Making is an in-depth look at the tools and techniques for preventing errors and improving efficiency. Exploring how and why decisions go awry in the first place; what decision-makers can do to counter the psychological, social, and other forces that can undermine individual judgment and pull organizations off course; and highlighting often overlooked aspects of the science of decision making, the book illustrates how mistakes really happen so that they can be better avoided. Drawing on examples taken from c...
The Art of Decision Making
Science reassures, art disturbs (Proverb) This intriguing exploration of underlying forces in decision making takes as its starting point a wealth of high profile decision disasters. In brilliantly readable analyses, Helga Drummond shows how better awareness of the inherent uncertainties of the decision making process could have made the outcomes very different. Examples showcased include: The Hatfield rail crash The Kursk submarine disaster The Challenger disaster The year 2000 fuel crisis The WWII Dardanelles expedition The Barings Bank collapse The Taurus Stock Exchange Project The Hillsborough tragedy The King's Cross underground fire The Millennium Dome This entertaining yet instructive book offers new insight into the realities of decision making, and shows how you can confront them to improve your prospects of success.
Introduction to Organizational Behaviour
'Excellent - expresses comlex ideas in a simple way. Lots of good examples', Dr Elizabeth Wilson, University of M/CHelga Drummond's concise introduction to Organizational Behaviour combines managerialist, interpretative and critical perspectives to provide a lucid guide for students new to the subject. Her text is packed with case material and she uses learning aids such as discussion questions, chapter summaries, reflection points, and further reading suggestions which give students practical ways to assimilate the material and take their analysis further, whilst two whole chapters are devoted to learning techniques and dissertation writing.
Escalation in Decision-making
Getting organizations going is one thing. Stopping them is another. This book examines how and why organizations become trapped in disastrous decisions. The focal point is Project Taurus, an IT venture commissioned by the London Stock Exchange and supported by numerous City Institutions.Taurus was intended to transform London's antiquated manual share settlement procedures into a state of the art electronic system that would be the envy of the world. The project collapsed after three year's intensive work and investments totalling almost L500 million. This book is an in depth study of escalation in decision making. The author has interviewed a number of people who played a key role and presents a most readable account of what actually happened. At the same time she sets the case in the broader literature of decision making.
How to be a Successful Entrepreneur
How to be a Successful Entrepreneur explains how to improve the odds and make your own luck. It will help you to steer clear of potentially catastrophic risks and errors while spotting and exploiting good opportunities. The author addresses crucial decisions such as: How do I recognise a good opportunity? When should I take a risk? When should I cut my losses? When is the best time to sell a thriving business? How do I know what's best for me? Full of fascinating real-life examples, referring to topics such as the failure of Barings bank and the success of Dyson, Dell computers and Patek Philippe, as well as business changing decisions made by companies such as Coca Cola, How to be a Successful Entrepreneur is an essential read for anyone who wants their business to be on a solid footing.
Effective Decision Making
This guide takes managers step-by-step through the decision making process and looks at the realities surrounding both the formulation of policy and execution of decisions. It creates a framework for implementation which aims to take account of likely real-world scenarios.
The Dynamics of Organizational Collapse
The collapse of Barings Bank was a commercial catastrophe that resonated worldwide, showing what kind of secrets can lie behind an apparently successful organization. Following Nick Leeson‘s arrest and subsequent conviction for fraud, investment banks anxiously reviewed their risk management controls to make sure that it could never happen a
The Oxford Handbook of Megaproject Management
This handbook provides state-of-the-art scholarship in the emerging field of megaproject management. The 25 chapters cover all aspects of megaproject management, from front-end planning to actual project delivery, including how to deal with stakeholders, risk, finance, complexity, innovation, governance, ethics, project breakdowns, and scale itself.
Escalation in Decision-Making
When a venture seems to be faltering, do you persist and hope that things will get better or do you cut your losses? This may be one of the most important decisions business or project owners may ever have to make. Persistence involves the risk of throwing good money (or resources) after bad, but owners may feel they have too much invested to quit now. Escalation in Decision-Making reveals why social scientists believe that owners may not respond rationally to such predicaments. Instead of exiting when the odds are clearly stacked against them, they re-invest and end up compounding their losses – a phenomenon known as escalation of commitment. The authors, Helga Drummond and Julia Hodgson,...
