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A modern-day Detroit success story that fuels the entrepreneurial fire Irrational Persistence tells the story of Garden Fresh Gourmet, and how two entrepreneurs turned a million-dollar debt to a 100-million-dollar annual revenue. Woody Allen famously said that 80 percent of success is just showing up; but any entrepreneur can tell you that it's the other 20 percent that's key. The founders of Garden Fresh took that old saying to heart, building so many strategic advantages into their products and business that their 'sales' team didn't have to do any selling—they simply had to show up. In this book, you'll find out what kind of legwork goes into building a mega-success product, and the strategies, methods, and just plain stubbornness that helped two guys from Detroit build a market leader. Garden Fresh Gourmet is now the number-one fresh salsa in the US, shipping over a million units every week to Costco, Walmart, Whole Foods, and other national chains—and it all began with two middle-aged guys with negative funds and plenty of ideas. This book shares their journey, insight, and passion to help you build a better business and take it to the top. Learn how two entrepreneurs went from major debt to major revenue Discover the key characteristics of a product that sells itself Consider why selling out might not be the ultimate goal Track a journey of 'irrational persistence' from rags to riches Garden Fresh Gourmet is an inspiration beyond the journey—the way you run things at the top matters, too. Irrational Persistence shows you how to make the tough decisions, live with the sacrifices, and prioritize your values as you build your brand and just keep on going.
Thinking and Deciding has established itself as a required text and important reference work for students and scholars of human cognition and rationality. In this, the third edition, Jonathan Baron delves further into many of the key questions addressed in the previous editions. For example, how should we think? What, if anything, keeps us from thinking that way? How can we improve our thinking and decision making? Baron has also revised or expanded his treatment of topics such as risk, utilitarianism, Baye's theorem, moral thinking, trust, utility measurement, and decision analysis and values. By emphasizing decision making, Baron has made Thinking and Deciding, Third Edition more relevant to researchers in applied fields, such as medicine, business, public policy, and law, while maintaining its appeal to graduate and undergraduate students.
A modern-day Detroit success story that fuels the entrepreneurial fire Irrational Persistence tells the story of Garden Fresh Gourmet, and how two entrepreneurs turned a million-dollar debt to a 100-million-dollar annual revenue. Woody Allen famously said that 80 percent of success is just showing up; but any entrepreneur can tell you that it's the other 20 percent that's key. The founders of Garden Fresh took that old saying to heart, building so many strategic advantages into their products and business that their 'sales' team didn't have to do any selling—they simply had to show up. In this book, you'll find out what kind of legwork goes into building a mega-success product, and the strategies, methods, and just plain stubbornness that helped two guys from Detroit build a market leader. Garden Fresh Gourmet is now the number-one fresh salsa in the US, shipping over a million units every week to Costco, Walmart, Whole Foods, and other national chains—and it all began with two middle-aged guys with negative funds and plenty of ideas. This book shares their journey, insight, and passion to help you build a better business and take it to the top. Learn how two entrepreneurs went from major debt to major revenue Discover the key characteristics of a product that sells itself Consider why selling out might not be the ultimate goal Track a journey of 'irrational persistence' from rags to riches Garden Fresh Gourmet is an inspiration beyond the journey—the way you run things at the top matters, too. Irrational Persistence shows you how to make the tough decisions, live with the sacrifices, and prioritize your values as you build your brand and just keep on going.
Should you care less about your distant future? What about events in your life that have already happened? How should the passage of time affect your planning and assessment of your life? Most of us think it is irrational to ignore the future but completely harmless to dismiss the past. But this book argues that rationality requires temporal neutrality: if you are rational you don't engage in any kind of temporal discounting. The book draws on puzzles about real-life planning to build the case for temporal neutrality. How much should you save for retirement? Does it make sense to cryogenically freeze your brain after death? How much should you ask to be compensated for a past injury? Will climate change make your life meaningless? Meghan Sullivan considers what it is for you to be a person extended over time, how time affects our ability to care about ourselves, and all of the ways that our emotions might bias our rational planning. Drawing substantially from work in social psychology, economics and the history of philosophy, the book offers a systematic new theory of rational planning.
Evaluating and making decisions about other people are key aspects of doing business, especially for managers and human resource professionals. Industrial and organizational psychologists devise systematic methods to remove human errors in judgment, such as biases and stereotypes. However many decisions about people are not made by experts using standard procedures. Even when they are, human judgment is unavoidable. This book examines the social psychological dynamics of person perception that underlie how people evaluate others in organizations. It contains original articles from leading experts in social, industrial, and organizational psychology. The book begins by examining basic principles and processes of social cognition and person perception, such as schemas, stereotypes, automatic/mindless information processing, the perceiver's motivation and affect, and situational conditions. It then applies these ideas to key areas of business operations. Helping readers understand and develop ways to improve the way people assess and make decisions about others, this book: * covers the interview, executive promotion decisions, and assessment centers; * examines performance appraisals and multisource (360 degree) feedback ratings; * addresses leadership cognitions, identifying training needs, coaching, and managing problem employees; and * includes chapters on cultural sensitivity, negotiations, group dynamics, and virtual teams.
Venture capital plays an important role in the entrepreneurial process of providing financing and management support to young, rapidly growing companies. While venture capital investment success stories such as those of Microsoft, Apple and Google are well known, such "home runs" are rather rare. Many investments provide little or no return so that accurately evaluating the prospects of portfolio companies and terminating further engagement in unsuccessful ventures in time is key to the overall portfolio performance of venture capital firms. When venture capitalists act rationally it should be expected that investment terminations are neither systematically premature nor systematically delayed. However, recent studies have discovered a systematic tendency toward delayed project terminations of unsuccessful investments that cannot be reconciled with a model of rational decision making. The present study examines such delayed project terminations in the venture capital industry and investigates whether escalation of commitment may provide an appropriate perspective on the phenomenon and contribute to its explanation. The study develops a comprehensive theoretical framework that synthesizes and integrates several economically irrational drivers of project escalation. A large scale survey among European venture capitalists provides the basis for the empirical analysis of the hypothesized relationships. The analysis yields valuable new insights into the interaction of different escalation drivers, which are much more intertwined than previously supposed by the literature, and permits to suggest effective escalation countermeasures for practice. The considerations and findings of the study are generalizable beyond the venture capital context to a wide variety of settings in which organizations routinely make sequential investment decisions.
There are times when quitting is the right thing to do, but there are a number of excellent alternatives - to be chosen at the right time! In Quitting Is Never the Only Option: Some Keys to Staying Fully Invested in Living author and retired pastor Ron Higdon teaches about fully invested living, a way to be able to evaluate situations and act appropriately under any set of circumstances. Yes, quitting is an option. It's just never the only one. The trouble is in deciding which is the best option. Using scripture, experience, and examples from a range of real-life and fictional examples, Ron presents ways of navigating the circumstances you encounter. What is your calling? What is perseverance and what part should it play in your life? How can you find wisdom to help you in making life-changing decisions? Through this entire discussion, the emphasis is on engaged, invested, fulfilling, inspired living. Not the seeking of perfection, or of reputation, or of superiority to others, but in simply fulfilling your own calling guided by divine inspiration and a thoughtful engagement with the world around you. Each chapter includes practical applications and questions for study, making this book suitable for small groups or church-wide studies as well as individual reading.
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, also introduce the concept of entrapment, a variation whereby decision-makers passively drift towards insolvency as the cost of changing direction becomes too high. So: · what drives escalation? · why do some owners quit whilst others persist until the bailiffs arrive? · what can we learn from owners' mistakes? · what makes newcomers believe they can succeed where others are conspicuously failing? These questions of behavioural economics are answered using a narrative that analyses decisions made by market traders facing economic extinction. Many highly successful entrepreneurs started their careers in markets - it was once an almost guaranteed route to prosperity - now market traders are struggling to survive. Although the market traders featured are small entrepreneurs, the ubiquitous phenomenon of escalation at the heart of these stories is widely relevant to practitioners such as project managers in large organizations and to those responsible for managing risk in many situations. Rich in case studies involving real business decisions and dilemmas, Escalation in Decision-Making provides an accessible introduction to the application of theory against a background of growing interest in behavioural economics, now being researched and taught in univ