The Art and Science of Decision-Making February 25, 2013 Robert S. Duboff Jason Robins

1 The Implications of MBTI Impacts on self and on how to communicate to others Self ̶ Reminder that one’s own preferences and judgments are not typical of all/most others ̶ Need to be especially sensitive to thinking/feeling and judging/perceiving Within own “enterprise” ̶ In one-on-one communications, need to determine and probably follow preferences of the other person  Best to let them choose order of things, pace of decisions, etc. (or at least openly discuss option(s)) ̶ Can often communicate in two different modes to accommodate preference (e.g., leave a voice mail and for important messages) ̶ Consider preferences and need for diversity in building teams External communication ̶ Need to be aware that any mass group has many of each preference ̶ Keys are most often intuitive/sensing and, often, thinking/feeling Net: need sensitivity to the variety of how people prefer to receive information and make decisions

2 2 Questions to Identify Communication Preferences Es vs. Is Es Voice mail Unlikely to want advance materials before presentations Is Likely to want advance materials before presentations Ss vs. Ns Ss Will want details first Will want to see the fine print Ns Will want conclusions first Will ignore the fine print Ts vs. Fs Ts Interested in principles, rules, criteria Less interest in the people involved Fs Interested in the issues and people at hand Very interested in the people involved Js vs. Ps Js Serious about times, schedules Likely to have and stick to specific time for decision Ps Not focused on tight scheduling

3 The Five Components of Emotional Intelligence (or beyond the MBTI) Self-awareness Self-regulation Motivation Empathy Social skills

4 When Should We Blink and When Should We Think? BlinkThink

5 A Rational Decision-Making Process Define the problem Identify the criteria Weight the criteria Generate alternatives Rate each alternative on each criterion Compute the optimal decision Source: Judgment in Managerial Decision-Making, Max Bazerman.

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