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    The Decision Book: Fifty models for strategic thinking
    The Decision Book: Fifty models for strategic thinking
    The Decision Book: Fifty models for strategic thinking
    Ebook152 pages1 hour

    The Decision Book: Fifty models for strategic thinking

    By Mikael Krogerus and Roman Tschappeler

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    About this ebook

    Most of us face the same questions every day: What do I want? How can I get it? How can I live more happily and work more efficiently?

    This updated edition of the international bestseller distils into a single volume the fifty best decision-making models used on MBA courses, and elsewhere, that will help you tackle these important questions - from the well known (the Eisenhower matrix for time management) to the less familiar but equally useful (the Swiss Cheese model). It will even show you how to remember everything you'll have learned by the end of it.

    Stylish and compact, this little book is a powerful asset. Whether you need to plot a presentation, assess someone's business idea or get to know yourself better, this unique guide will help you simplify any problem and take steps towards the right decision.

    LanguageEnglish
    PublisherProfile Books
    Release dateFeb 2, 2023
    ISBN9781800818897
    The Decision Book: Fifty models for strategic thinking
    Author

    Mikael Krogerus

    Mikael Krogerus, born in Stockholm, is an editor for Das Magazin in Zurich. He previously worked for Der Freitag and NZZ Folio, among other publications. Together with Roman Tschäppeler, he is the author of an interntaionally bestselling series of smart-thinking books including The Decision Book, The Test Book and The Change Book.

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      Book preview

      The Decision Book - Mikael Krogerus

      HOW TO IMPROVE YOURSELF

      THE EISENHOWER MATRIX

      HOW TO WORK MORE EFFICIENTLY

      The US president Dwight D. Eisenhower supposedly once said: ‘The most urgent decisions are rarely the most important ones.’ Eisenhower was considered a master of time management, i.e. he had the ability to do everything as and when it needed to be done. With the Eisenhower method, you will learn to distinguish between what is important and what is urgent.

      Whatever the job that lands on your desk, begin by breaking it down according to the Eisenhower method and then decide how to proceed. We often focus too strongly on the ‘urgent and important’ field, on the things that have to be dealt with immediately. Ask yourself: When will I deal with the things that are important, but not urgent? When will I take the time to deal with important tasks before they become urgent? This is the field for strategic, long-term decisions.

      Another method of organising your time better is attributed to the multimillionaire Warren Buffett. Make a list of everything you want to get done today. Begin with the task at the top of the list, and continue only when you have completed it. When a task has been completed, cross it off the list.

      Better late than never. But never late is better.

      Fill in the tasks you currently have to deal with.

      THE SWOT ANALYSIS

      HOW TO FIND THE RIGHT SOLUTION

      With SWOT analysis, you evaluate the Strengths, Weaknesses, Opportunities and Threats identified in a project. The technique is based on a Stanford University study from the 1960s which analysed data from Fortune 500 companies. The study found a 35 per cent discrepancy between the companies’ objectives and what was actually implemented. The problem was not that the employees were incompetent but that the objectives were too ambiguous. Many employees didn’t even know why they were doing what they were doing. SWOT was developed from the results of the study to help those involved in a project to gain a clearer understanding of it.

      It is worth taking the time to think about each step of the SWOT analysis rather than just hastily fill it out. How can we emphasise our strengths and compensate for (or cover up) our weaknesses? How can we maximise opportunities? How can we protect ourselves against threats?

      What is interesting about SWOT analysis is its versatility: it can be applied to business and personal decisions with equal success.

      If you’re not failing, you’re not trying hard enough. Gretchen Rubin

      Think back to a big project in your life and about how you would have filled in a SWOT diagram at the time. Compare that with how you would fill it in today.

      THE BCG BOX

      HOW TO EVALUATE COSTS AND BENEFITS

      In the 1970s, the Boston Consulting Group developed a method for assessing the value of the investments in a company’s portfolio. The four-field matrix distinguishes between four different types of investment:

      • Cash cows have a high market share but a low growth rate. This means they don’t cost much but promise high returns. Consultants’ verdict: milk them.

      • Stars have a high market share and a high growth rate. But growth devours money. The hope is that the stars will turn into cash cows. Consultants’ verdict: invest.

      • Question marks, or ‘problem children’, have high growth potential but a low share of the market. With a lot of (financial) support and cajolement, they can be turned into stars. Consultants’ verdict: a tough decision.

      • Dogs are business units with a low share in a saturated market. Dogs should be held on to only if they have a value other than a financial one (e.g. a vanity project or favour for a friend). Consultants’ verdict: liquidate.

      The most dangerous words in investing are ‘this time it’s different.’ Sir John Templeton

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