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

2. 1 Remaining Schedule 4/1 = Communication of Decisions 4/8 = Decision Lab 4/15 = Decision Lab 4/22 =Decision Lab Debrief/Persuasion Negotiations Read Competing on Analytics article (on site) 4/29 =Supporting Decisions Role of Data/Information Read Being Wrong (Chapters 1-3; 13-15) 5/6 =The Decision-Making Process – Scientific Approach Sources of Errors/Mistakes Final Paper 5/13 =Improving the Process and Substance of Decisions

3. 2 Final – Due by May 13 The final assignment is a 3-5 page paper analyzing a future decision relating to business, politics/government or personal. The paper needs to include:  What the decision is about and the alternatives  The process to be followed  What will influence the decision ̶ Rational factors ̶ Emotional factors  Specifically, how has this course changed your thinking about this decision? The grade will be based on the insights into the process and the upcoming decision. The more impactful points made, the better. Clarity of communication will also count.

4. 3 Decision Situations Individual Family Large business Small business Start-ups Government Non-profit Before Decision DeliberationDecision Post- Decision

5. 4 Contexts 1.Hiring 2.Telecommuting 3.Buying other companies/being bought 4.Introducing new products

6. 5 Fortune’s Most Admired 1.Apple 2.Google 3.Amazon 4.Coca-Cola 5.Starbucks 6.IBM 7.Southwest 8.Berkshire Hathaway 9.Walt Disney 10.Fedex

7. 6 Variables 1.Ethics 2.Visibility/transparency 3.Clear accountability (individual vs. group)

8. 7 Persuasion (per Aristotle) Credibility Rational Emotional