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Top rated business decision making
Here are some top-rated business decision-making models and techniques:
- Six Thinking Hats: This method, developed by Edward de Bono, involves looking at a decision from six different perspectives, each represented by a different colored hat.
- SWOT Analysis: A popular framework for evaluating the strengths, weaknesses, opportunities, and threats related to a business decision.
- Decision Tree Analysis: A visual representation of possible decisions and their potential outcomes, used to evaluate and compare different options.
- Cost-Benefit Analysis: A method for evaluating the potential costs and benefits of a decision, used to determine whether a particular course of action is worthwhile.
- Pros and Cons Analysis: A simple yet effective technique for weighing the advantages and disadvantages of a decision.
- PARS Model: A framework for evaluating decisions based on four criteria: Purpose, Alternatives, Risks, and Stakeholders.
- BCG Matrix: A tool used to evaluate business opportunities based on market growth and relative market share.
- Scenario Planning: A method for anticipating and preparing for different possible future scenarios, used to inform decision-making.
- Break-Even Analysis: A technique for determining the point at which a business will become profitable, used to evaluate investment decisions.
- Real Options Analysis: A method for evaluating investment decisions that takes into account the flexibility and uncertainty of future outcomes.
Top-rated business decision-making books:
- "Thinking, Fast and Slow" by Daniel Kahneman: A comprehensive guide to cognitive biases and how they impact decision-making.
- "The Decision Book" by Mikael Krogerus and Roman Tschäppeler: A practical guide to decision-making, featuring 50 models and techniques.
- "Decisive: How to Make Better Choices in Life and Work" by Chip Heath and Dan Heath: A book that provides a framework for making better decisions, based on four key principles.
- "The Art of Possibility" by Rosamund Stone Zander and Benjamin Zander: A book that explores the concept of "positional" thinking and how it can be used to improve decision-making.
- "Predictably Irrational" by Dan Ariely: A book that explores the ways in which cognitive biases and emotions can lead to irrational decision-making.
Top-rated business decision-making courses:
- Coursera - Decision Making (University of Michigan): A course that covers the fundamentals of decision-making, including models and techniques.
- edX - Decision Making and Management (University of California, Berkeley): A course that explores the principles of decision-making and management.
- MIT OpenCourseWare - Decision Making (MIT): A free online course that covers the basics of decision-making, including probability and statistics.
- Harvard Business School - Decision Making (Harvard University): A course that provides a comprehensive introduction to decision-making, including case studies and group work.
- Udemy - Business Decision Making (Udemy): A course that covers the key concepts and techniques of business decision-making, including SWOT analysis and decision trees.
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