Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts


Annie Duke - 2018
    The pass was intercepted and the Seahawks lost. Critics called it the dumbest play in history. But was the call really that bad? Or did Carroll actually make a great move that was ruined by bad luck?Even the best decision doesn't yield the best outcome every time. There's always an element of luck that you can't control, and there is always information that is hidden from view. So the key to long-term success (and avoiding worrying yourself to death) is to think in bets: How sure am I? What are the possible ways things could turn out? What decision has the highest odds of success? Did I land in the unlucky 10% on the strategy that works 90% of the time? Or is my success attributable to dumb luck rather than great decision making?Annie Duke, a former World Series of Poker champion turned business consultant, draws on examples from business, sports, politics, and (of course) poker to share tools anyone can use to embrace uncertainty and make better decisions. For most people, it's difficult to say "I'm not sure" in a world that values and, even, rewards the appearance of certainty. But professional poker players are comfortable with the fact that great decisions don't always lead to great outcomes and bad decisions don't always lead to bad outcomes.By shifting your thinking from a need for certainty to a goal of accurately assessing what you know and what you don't, you'll be less vulnerable to reactive emotions, knee-jerk biases, and destructive habits in your decision making. You'll become more confident, calm, compassionate and successful in the long run.

Noise: A Flaw in Human Judgment


Daniel Kahneman - 2021
    Suppose that different food inspectors give different ratings to indistinguishable restaurants — or that when a company is handling customer complaints, the resolution depends on who happens to be handling the particular complaint. Now imagine that the same doctor, the same judge, the same inspector, or the same company official 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, Cass R. Sunstein, and Olivier Sibony show how noise contributes significantly to errors in all fields, including medicine, law, economic forecasting, police behavior, food safety, bail, security checks at airports, strategy, and personnel selection. And although noise can be found wherever people make judgments and decisions, individuals and organizations alike are commonly oblivious to the role of chance in their judgments and in their actions.   Drawing on the latest findings in psychology and behavioral economics, and the same kind of diligent, insightful research 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.

The Decision Book: Fifty Models for Strategic Thinking


Mikael Krogerus - 2011
    

Decisive: How to Make Better Choices in Life and Work


Chip Heath - 2013
    The four principles that can help us to overcome our brains' natural biases to make better, more informed decisions -- in our lives, careers, families and organizations.In Decisive, Chip Heath and Dan Heath, the bestselling authors of Made to Stick and Switch, tackle the thorny problem of how to overcome our natural biases and irrational thinking to make better decisions, about our work, lives, companies and careers.    When it comes to decision making, our brains are flawed instruments.  But given that we are biologically hard-wired to act foolishly and behave irrationally at times, how can we do better?  A number of recent bestsellers have identified how irrational our decision making can be.  But being aware of a bias doesn't correct it, just as knowing that you are nearsighted doesn't help you to see better.  In Decisive, the Heath brothers, drawing on extensive studies, stories and research, offer specific, practical tools that can help us to think more clearly about our options, and get out of our heads, to improve our decision making, at work and at home.

Good to Great: Why Some Companies Make the Leap... and Others Don't


James C. Collins - 2001
    The findings will surprise many readers and, quite frankly, upset others.The ChallengeBuilt to Last, the defining management study of the nineties, showed how great companies triumph over time and how long-term sustained performance can be engineered into the DNA of an enterprise from the very beginning. But what about the company that is not born with great DNA? How can good companies, mediocre companies, even bad companies achieve enduring greatness? The StudyFor years, this question preyed on the mind of Jim Collins. Are there companies that defy gravity and convert long-term mediocrity or worse into long-term superiority? And if so, what are the universal distinguishing characteristics that cause a company to go from good to great?The StandardsUsing tough benchmarks, Collins and his research team identified a set of elite companies that made the leap to great results and sustained those results for at least fifteen years. How great? After the leap, the good-to-great companies generated cumulative stock returns that beat the general stock market by an average of seven times in fifteen years, better than twice the results delivered by a composite index of the world's greatest companies, including Coca-Cola, Intel, General Electric, and Merck. The ComparisonsThe research team contrasted the good-to-great companies with a carefully selected set of comparison companies that failed to make the leap from good to great. What was different? Why did one set of companies become truly great performers while the other set remained only good? The FindingsThe findings of the Good to Great study will surprise many readers and shed light on virtually every area of management strategy and practice. The findings include:Level 5 Leaders: The research team was shocked to discover the type of leadership required to achieve greatness.The Hedgehog Concept (Simplicity within the Three Circles): To go from good to great requires transcending the curse of competence.A Culture of Discipline: When you combine a culture of discipline with an ethic of entrepreneurship, you get the magical alchemy of great results. Technology Accelerators: Good-to-great companies think differently about the role of technology.The Flywheel and the Doom Loop: Those who launch radical change programs and wrenching restructurings will almost certainly fail to make the leap.

Extreme Ownership: How U.S. Navy SEALs Lead and Win


Jocko Willink - 2015
    you teach guys and gals about leadership and you've helped not only military guys but families." - Megyn Kelly"You show in the book how to motivate... thanks for writing the book Extreme Ownership." Bill O'Reilly"[Jocko] is the co-author of an incredible new book - which I've been loving. Trust me. Buy it." - Tim Ferriss"This is a life-learning lesson for everyone... the book is awesome." - Sean HannitySent to the most violent battlefield in Iraq, Jocko Willink and Leif Babin’s SEAL task unit faced a seemingly impossible mission: help U.S. forces secure Ramadi, a city deemed “all but lost.” In gripping firsthand accounts of heroism, tragic loss, and hard-won victories in SEAL Team Three’s Task Unit Bruiser, they learned that leadership—at every level—is the most important factor in whether a team succeeds or fails.Willink and Babin returned home from deployment and instituted SEAL leadership training that helped forge the next generation of SEAL leaders. After departing the SEAL Teams, they launched Echelon Front, a company that teaches these same leadership principles to businesses and organizations. From promising startups to Fortune 500 companies, Babin and Willink have helped scores of clients across a broad range of industries build their own high-performance teams and dominate their battlefields.Now, detailing the mind-set and principles that enable SEAL units to accomplish the most difficult missions in combat, Extreme Ownership shows how to apply them to any team, family or organization. Each chapter focuses on a specific topic such as Cover and Move, Decentralized Command, and Leading Up the Chain, explaining what they are, why they are important, and how to implement them in any leadership environment.A compelling narrative with powerful instruction and direct application, Extreme Ownership revolutionizes business management and challenges leaders everywhere to fulfill their ultimate purpose: lead and win.

Mastery


Robert Greene - 2012
    By analyzing the lives of such past masters as Charles Darwin, Benjamin Franklin, Albert Einstein, and Leonard da Vinci, as well as by interviewing nine contemporary masters, including tech guru Paul Graham and animal rights advocate Temple Grandin, Greene debunks our culture’s many myths about genius and distills the wisdom of the ages to reveal the secret to greatness. With this seminal text as a guide, readers will learn how to unlock the passion within and become masters.

Risk Savvy: How to Make Good Decisions


Gerd Gigerenzer - 2013
    But as risk expert Gerd Gigerenzer shows, the surprising truth is that in the real world, we often get better results by using simple rules and considering less information. In Risk Savvy, Gigerenzer reveals that most of us, including doctors, lawyers, financial advisers, and elected officials, misunderstand statistics much more often than we think, leaving us not only misinformed, but vulnerable to exploitation. Yet there is hope. Anyone can learn to make better decisions for their health, finances, family, and business without needing to consult an expert or a super computer, and Gigerenzer shows us how.Risk Savvy is an insightful and easy-to-understand remedy to our collective information overload and an essential guide to making smart, confident decisions in the face of uncertainty.

Bold: How to Go Big, Create Wealth and Impact the World


Peter H. Diamandis - 2015
    Part One focuses on the exponential technologies that are disrupting today’s Fortune 500 companies and enabling upstart entrepreneurs to go from "I’ve got an idea" to "I run a billion-dollar company" far faster than ever before. The authors provide exceptional insight into the power of 3D printing, artificial intelligence, robotics, networks and sensors, and synthetic biology. Part Two of the book focuses on the Psychology of Bold, drawing on insights from billionaire entrepreneurs Larry Page, Elon Musk, Richard Branson, and Jeff Bezos. In addition, Diamandis reveals his entrepreneurial secrets garnered from building fifteen companies, including such audacious ventures as Singularity University, XPRIZE, Planetary Resources, and Human Longevity, Inc. Finally, Bold closes with a look at the best practices that allow anyone to leverage today’s hyper-connected crowd like never before. Here, the authors teach how to design and use incentive competitions, launch million-dollar crowdfunding campaigns to tap into ten’s of billions of dollars of capital, and finally how to build communities—armies of exponentially enabled individuals willing and able to help today’s entrepreneurs make their boldest dreams come true.Bold is both a manifesto and a manual. It is today’s exponential entrepreneur’s go-to resource on the use of emerging technologies, thinking at scale, and the awesome power of crowd-powered tools.

The Effective Executive: The Definitive Guide to Getting the Right Things Done


Peter F. Drucker - 1966
    Drucker reminds us, is the ability to "get the right things done." This usually involves doing what other people have overlooked as well as avoiding what is unproductive. Intelligence, imagination, and knowledge may all be wasted in an executive job without the acquired habits of mind that mold them into results.Drucker identifies five practices essential to business effectiveness that can, and must, be learned: Managing time Choosing what to contribute to the organization Knowing where and how to mobilize strength for best effect Setting the right priorities Knitting all of them together with effective decision-makingRanging widely through the annals of business and government, Peter F. Drucker demonstrates the distinctive skill of the executive and offers fresh insights into old and seemingly obvious business situations.

In Search Of Excellence: Lessons from America's Best-Run Companies


Thomas J. Peters - 1982
    The "Greatest Business Book of All Time" (Bloomsbury UK), In Search of Excellence has long been a must-have for the boardroom, business school, and bedside table.Based on a study of forty-three of America's best-run companies from a diverse array of business sectors, In Search of Excellence describes eight basic principles of management -- action-stimulating, people-oriented, profit-maximizing practices -- that made these organizations successful.This phenomenal bestseller features a new Authors' Note, and reintroduces these vital principles in an accessible and practical way for today's management reader.

Black Box Thinking: Why Some People Never Learn from Their Mistakes - But Some Do


Matthew Syed - 2015
    Every aircraft is equipped with an almost indestructible black box. When there is an accident, the box is opened, the data is analyzed, and the reason for the accident excavated. This ensures that procedures are adapted so that the same mistake doesn’t happen again. With this method, the industry has created an astonishing safety record.For pilots working in a safety-critical industry, getting it wrong can have deadly consequences. But most of us have a relationship with failure that impedes progress, halts innovation, and damages our lives. We don’t acknowledge it or learn from it —though we often think we do.Moving from anthropology to psychology and from history to complexity theory, Matthew Syed explains why even when we think we have 20/20 hindsight, our vision’s still fuzzy. He offers a radical new idea: that the most important determinant of success in any field, whether sports, business, or life, is an acknowledgment of failure and a willingness to engage with it. This is how we learn, progress and excel. This approach explains everything from biological evolution and the efficiency of markets to the success of the Mercedes F1 team and the mindset of David Beckham.Using a cornucopia of interviews, gripping stories, and sharp-edged science, Syed explores the intimate relationship between failure and success, and shows why we need to transport black box thinking into our own lives. If we wish to unleash our potential, we must diagnose and break free of our failures. Part manifesto for change, part intellectual adventure, this groundbreaking book reveals how to do both.

Think Again: The Power of Knowing What You Don't Know


Adam M. Grant - 2021
    Evidence has shown that creative geniuses are not attached to one identity, but constantly willing to rethink their stances and that leaders who admit they don't know something and seek critical feedback lead more productive and innovative teams.New evidence shows us that as a mindset and a skilllset, rethinking can be taught and Grant explains how to develop the necessary qualities to do it. Section 1 explores why we struggle to think again and how we can learn to do it as individuals, arguing that 'grit' alone can actually be counterproductive. Section 2 discusses how we can help others think again through learning about 'argument literacy'. And the final section 3 looks at how schools, businesses and governments fall short in building cultures that encourage rethinking.In the end, learning to rethink may be the secret skill to give you the edge in a world changing faster than ever.

The Innovator's Dilemma: The Revolutionary Book that Will Change the Way You Do Business


Clayton M. Christensen - 1997
    Christensen says outstanding companies can do everything right and still lose their market leadership -- or worse, disappear completely. And he not only proves what he says, he tells others how to avoid a similar fate.Focusing on "disruptive technology" -- the Honda Super Cub, Intel's 8088 processor, or the hydraulic excavator, for example -- Christensen shows why most companies miss "the next great wave." Whether in electronics or retailing, a successful company with established products will get pushed aside unless managers know when to abandon traditional business practices. Using the lessons of successes and failures from leading companies, "The Innovator's Dilemma" presents a set of rules for capitalizing on the phenomenon of disruptive innovation.

The Undoing Project: A Friendship That Changed Our Minds


Michael Lewis - 2016
    One of the greatest partnerships in the history of science, Kahneman and Tversky’s extraordinary friendship incited a revolution in Big Data studies, advanced evidence-based medicine, led to a new approach to government regulation, and made much of Michael Lewis’s own work possible. In The Undoing Project, Lewis shows how their Nobel Prize–winning theory of the mind altered our perception of reality.