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Even experienced experts can be biased and overconfident. This book explains how to ensure experts provide reliable scientific advice.
Front-line employees who deal directly with customers are the face of any organization. Not only do they have the most impact on how a brand is perceived, but they are also the most valuable source of insight into what customers want and how to give it to them. Unfortunately, as management experts Chris DeRose and Noel M. Tichy explain, most organizations don't know how to evaluate the risk of giving employees more autonomy. Many of those who are willing to try haven't even invested resources in ensuring that-once the shackles are off-front-line employees make good judgments. Tichy and DeRose offer powerful examples of front-line leadership, such as: How Zappos trusts its people to do anything in service of a customer, including providing free product or reimbursing for mistakes How Mayo Clinic of Arizona enabled its nurses to challenge the hierarchy in order to improve patient care
"Adler's argument is illuminating and reveals that, when it comes to investing, we should always have second thoughts about our first impressions." --Publisher's Weekly WHY YOUR INSTINCTS CAN BE YOUR #1 ENEMY--AND HOW TO DEFEAT THEM! "David Adler's Snap Judgment is a well-written, entertaining review of human action in risky situations, including stock market behavior and other risk-facing situations. In particular, Adler recounts the conclusions of many practitioners and behavioral finance scholars who have studied such matters. This book is well worth reading, both for its practical advice for the novice and its wealth of illustrations for the pro." -- Harry Markowitz, Nobel Laureate in Economics and father of modern portfolio theory "David Adler has done a great public service by translating a dazzling array of research in economics and finance into practical terms that anyone can understand and profit from. This book should be required reading for every investor." -- Andrew W. Lo, Professor of Finance, MIT Sloan School of Management "Investing and managing your money on the basis of emotion, instincts, and intuition is a road straight to the poorhouse. This book teaches you why--and how to rid yourself of the irrational impulses that torment your portfolio." -- Peter Navarro, bestselling author of If It's Raining in Brazil, Buy Starbucks and The Coming China Wars "Adler's book makes a compelling case, illustrated through engaging examples, that the mind and the purse are well served by the triumph of analytic intelligence over intuition." -- Gary Loveman, Chairman, President, & CEO, Harrah's Entertainment, Inc.
A proven model to create high-performing, high-trust organizations Globally, there has been a decline in trust over the past few decades, and only a third of Americans believe they can trust the government, big business, and large institutions. In The Decision to Trust, Robert Hurley explains how this new culture of cynicism and distrust creates many problems, and why it is almost impossible to manage an organization well if its people do not trust one another. High-performing, world-class companies are almost always high-trust environments. Without this elusive, important ingredient, companies cannot attract or retain top talent. In this book, Hurley reveals a new model to measure and repair trust with colleagues managers and employees. Outlines a proven Decision to Trust Model (DTM) of ten factors that establish whether or not one party will trust the other Filled with original examples from Daimler, PriceWaterhouse Coopers, Goldman Sachs, Microsoft, QuikTrip, General Electric, Procter and Gamble, AzKoNobel, Johnson and Johnson, Whole Foods, and Zappos Reveals how leaders in Asia, Europe, and North America have used the DTM to build high-trust organizations Covering trust building in teams, across functions, within organizations and across national cultures, The Decision to Trust shows how any organization can improve trust and the bottom line.
Social trust is a crucial issue to many aspects of modern society. Policy makers continually aspire to winning it and corporations frequently run the risk of losing it. The 'trust deficit' raises vital questions and problems to which until recently there have been few answers or solutions. Experts from both sides of the Atlantic explore the importance for trust of various influences, from individual perceptions to organizational systems, and consider the conditions involved in building or undermining trust. Several authors examine practical hazard management issues, including medical vaccination programmes and popular participation in pollution control and waste management as strategies for enhancing social trust. This book provides insightful analysis for researchers and students of environmental and social sciences and is essential reading for those engaged in risk management in both the public and private sectors.
The world in which we learn is changing rapidly. That rapidity is driven by a range of influences, conveniently, but inadequately, clustered under the rubric of globalisation. . The context in which globalisation and education is often linked is that of progression, progression realisable through technology, the free movement of finances and the optimum utilisation of human capital. To fuel this progression, formal educational institutions have grown, adapted and changed to provide highly skilled ‘outputs’ to satisfy demand. Along the way, I will argue, the questioning, learning, reflecting and worthiness of formal education has been sacrificed for instrumentality, compliance and self-interest. This is seen throughout the educational system but this book concentrates on higher education and, more importantly, higher educational institutions that are known as universities. I will try to argue for a distinctive place for universities that does not resist progression but defines it differently from that allowable by the market. I propose a university system where students and faculty are together allowed to ‘let learn’ who they might become, rather than realise their being as the artefact of economic imperatives. I accept from the very beginning that this might be incompatible with universities being in the world of commerce and industry, in fact, I demand that they are not! However, my text is not a polemic against the capitalist entrapment of education per se but for the development of centres that question whilst engaging with the realities of our existence.
In the face of conflict and despair, we often console ourselves by saying that history will be the judge. Today’s oppressors may escape being held responsible for their crimes, but the future will condemn them. Those who stand up for progressive values are on the right side of history. As ideas once condemned to the dustbin of history—white supremacy, hypernationalism, even fascism—return to the world, threatening democratic institutions and values, can we still hold out hope that history will render its verdict? Joan Wallach Scott critically examines the belief that history will redeem us, revealing the implicit politics of appeals to the judgment of history. She argues that the notion of a linear, ever-improving direction of history hides the persistence of power structures and hinders the pursuit of alternative futures. This vision of necessary progress perpetuates the assumption that the nation-state is the culmination of history and the ultimate source for rectifying injustice. Scott considers the Nuremberg Tribunal and South Africa’s Truth and Reconciliation Commission, which claimed to carry out history’s judgment on Nazism and apartheid, and contrasts them with the movement for reparations for slavery in the United States. Advocates for reparations call into question a national history that has long ignored enslavement and its racist legacies. Only by this kind of critical questioning of the place of the nation-state as the final source of history’s judgment, this book shows, can we open up room for radically different conceptions of justice.
We seem to be living in an age of citizen distrust of social and political elites. Distrust is also seen to have numerous negative consequences for our civic and democratic life. Yet are western democracies really facing a crisis of trust? This book provides an extensive and up-to-date review of one of the most important topics in contemporary political life. It explores the nature and condition of trust today by exploring three key issues. What do we mean by trust? How far are levels of trust in decline? How damaging are the consequences of low trust for effective democratic governance? Seyd also considers how trust arises, and which factors might explain the declines in trust witnessed recently in many countries. Providing evidence from many countries, Trust: How Citizens View Political Institutions pays particular attention to Britain, which has seen a marked decline in public regard for political elites, making the country a vital case for identifying the causes and effects of low trust. Combining conceptual and empirical analysis, the book provides a timely analysis of a central issue in contemporary political debate.
“With good judgment, little else matters. Without it, nothing else matters.” Whether we’re talking about United States presidents, CEOs, Major League coaches, or wartime generals, leaders are remembered for their best and worst judgment calls. In the face of ambiguity, uncertainty, and conflicting demands, the quality of a leader’s judgment determines the fate of the entire organization. That’s why judgment is the essence of leadership. Yet despite its importance, judgment has always been a fairly murky concept. The leadership literature has been conspicuously quiet on what, exactly, defines it. Does judgment differ from common sense or gut instinct? Is it a product of luck? Of smarts? Or is there a process for making consistently good calls? Noel Tichy and Warren Bennis have each spent decades studying and teaching leadership and advising top CEOs such as Jack Welch and Howard Schultz. Now, in their first collaboration, they offer a powerful framework for making tough calls when the stakes are high and the right path is far from obvious. They show how to recognize the critical moment before a judgment call, when swift and decisive action is essential, and also how to execute a decision after the call. Tichy and Bennis bring their three-dimensional model to life with interviews with world-class leaders who have thrived or suffered because of their judgment calls. These stories include: • Jeff Immelt, CEO of General Electric, whose judgment to grow through research and development transformed GE into the world’s premier technology growth company. • Joel Klein, chancellor of the New York City Department of Education, who made tough calls about teachers, students, and parents while turning around a troubled school system. • Jim McNerney, CEO of Boeing, whose strategic judgment helped him reinvigorate his company and restore a culture of trust and respect. • The late general Wayne Downing, who found an unexpected opportunity in the midst of crisis when he led the Special Operations raid to capture Manuel Noriega. • A. G. Lafley, CEO of Procter & Gamble, who bet $57 billion to purchase Gillette and reinvent his company. • Brad Anderson, CEO of Best Buy, who made the call to commit totally to a customer-centric strategy and led his people to execute it. Whether you’re running a small department or a global corporation, Judgment will give you a framework for evaluating any situation, making the call, and correcting if necessary during the execution phase. It will show you how to handle the overlapping domains of people, strategy, and crisis management. And it will help you teach your entire team to make the right call more often. No organization can afford to neglect this crucial discipline—and no previous book has ever brought it into such clear focus.
From the Nobel Prize-winning author of Thinking, Fast and Slow and the coauthor of Nudge, a revolutionary exploration of why people make bad judgments and how to make better ones—"a tour de force” (New York Times). Imagine that two doctors in the same city give different diagnoses to identical patients—or that two judges in the same courthouse give markedly different sentences to people who have committed the same crime. Suppose that different interviewers at the same firm make different decisions about indistinguishable job applicants—or that when a company is handling customer complaints, the resolution depends on who happens to answer the phone. Now imagine that the same doctor, the same judge, the same interviewer, or the same customer service agent makes different decisions depending on whether it is morning or afternoon, or Monday rather than Wednesday. These are examples of noise: variability in judgments that should be identical. In Noise, Daniel Kahneman, Olivier Sibony, and Cass R. Sunstein show the detrimental effects of noise in many fields, including medicine, law, economic forecasting, forensic science, bail, child protection, strategy, performance reviews, and personnel selection. Wherever there is judgment, there is noise. Yet, most of the time, individuals and organizations alike are unaware of it. They neglect noise. With a few simple remedies, people can reduce both noise and bias, and so make far better decisions. Packed with original ideas, and offering the same kinds of research-based insights that made Thinking, Fast and Slow and Nudge groundbreaking New York Times bestsellers, Noise explains how and why humans are so susceptible to noise in judgment—and what we can do about it.