Heads or Tails?

Yes, there really is a chapter on flipping a coin. (It’s number 16). But there is a lot more to it. Michael E. McGrath, the author of Business Decisions! Making Winning Management Decisions in Today’s Economy covers hot topics such as managing risk, wishful thinking and other reasons people ignore important choices, focusing on the short-term and forgetting long-term consequences, throwing good money after bad, indecision and other pitfalls. One risk you may not have thought of? Like minded thinkers. A decision making group that agrees too often may not have enough diversity to see all the alternatives. 

He then goes on to explore how to make better choices, including a great chart helping you figure out whether — or when — to trust your gut. Deadlines, pros and cons, advice and hedging your bets may not seem like rocket science, but as always, the devil, and the decision, is in the details. In the final third of the book, McGrath handles the aspects of making decisions as an organization, not just an individual.