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Sheena S. Iyengar is the S.T. Lee Professor of Business in the Management Department at Columbia Business School, [1] [2] widely and best known as an expert on choice. [3] [4] [5] Her research focuses on the many facets of decision making, including: why people want choice, what affects how and what we choose, and how we can improve our decision making.
The book was a finalist for the 2010 Financial Times Business Book of the Year Award. [5] It was also named a Best Business Book of the Year by The Economist and ranked among Amazon's top ten business and investing books of the year. [6] Iyengar's exploration of choice in The Art of Choosing has been
Business decision mapping (BDM) is a technique for making decisions, particularly for the kind of decisions that often need to be made in business.It involves using diagrams to help articulate and work through the decision problem, from initial recognition of the need through to communication of the decision and the thinking behind it.
Choice architecture is the design of different ways in which choices can be presented to decision makers, and the impact of that presentation on decision-making. For example, each of the following: the number of choices presented [1] the manner in which attributes are described [2] the presence of a "default" [3] [4] can influence consumer choice.
The concept of decision yield, for instance, focuses on all five key attributes of decision-making: more targeted decisions (precision); in the same way, over and over again (consistency); while being able to adapt "on-the-fly" (business agility) while reducing cost and improving speed, is an overall metric for how well an organization is ...
Decision-making as a term is a scientific process when that decision will affect a policy affecting an entity. Decision-making models are used as a method and process to fulfill the following objectives: Every team member is clear about how a decision will be made; The roles and responsibilities for the decision making
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Decision intelligence recognizes that many aspects of decision-making are based on intangible elements, including opportunity costs, employee morale, intellectual capital, brand recognition and other forms of business value that are not captured in traditional quantitative or financial models.