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What makes a strategic decision different
Transcript of What makes a strategic decision different
What Makes Strategic Decisions Different
by Phil Rosenzweig, 2013
Huge amount of research results on decision making
Executives are to apply
Most of them are specific
Do not reflect on strategic decisions
comes in (e.g. voter and candidate).
Most consequential decisions
"Only those who are able to muster a degree of commitment and determination that is by some definitions excessive will be in a position to win."
Guidance from game theory
"Players cannot alter the terms of the game."
Does not help managers
"The art of outdoing an adversary, knowing that the adversary is trying to do the same to you."
Some activities required us to move between the first and the second fields.
Element of high performance
HOW LONG will it take?
Activity that we can
Objective and deliberate thinking
After action review
("The making of an Expert" by K. Anders Ericsson, Michael J. Prietula, and Edward T. Cokely,)
Nevertheless, most recent research has proved choices in first field can be successful regardless of what anyone else does.
Executives can influence the outcomes and their choices are successful only if they are better than their rivals.
Discernment & Versatility
Understanding which field is more significant
"The combination of skills essential to the trade: part tactician, part psychologist, part riverboat gambler."
Influence on Outcome
The way we measure success
Low control & performance is absolute
no ability to improve
Personal investment decisions
Galo Del Pozo Carrera
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