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The Art of High-Stakes Decision-Making: Tough Calls in a Speed-Driven World.

Journal of Leadership Studies

| March 22, 2002 | Van Fleet, Alanson A. | COPYRIGHT 2002 Baker College System - Center for Graduate Studies. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright
 
J. Keith Murnighan and John C. Mowen 
John Wiley & Sons, Inc. 2002 
278 pages $27.95 
Hardcover 

If you want to make better decisions, and have more confidence in those decisions, read this book.

Murnighan and Mowen present a model for decision-making that is easy to understand, and they illustrate each step with research studies and stories from virtually every walk of business life, from Jim Bronson who has to decide about franchising his brew pub to NASA decision-makers who determine if the next shuttle is ready to launch.

The authors take us on a tour of decision-making, from its carefully considered scientific components to its intuitive, psychological nature. Their goal is not to advance the academic study of decision-making, but to explain it and reinforce its artful nature.

To do so, they break decision-making down into seven components that create the easy-to-remember acronym SCRIPTS:

 
    Search: Search for signals of threats and opportunities 
 
    Cause: Find the causes 
 
    Risks: Evaluate the risks 
 
    Intuition: Apply intuition and emotion 
 
    Perspectives: Take different perspectives 
 
    Time: Consider the time frame 
 
    Solve: Solve the problem 

Searching for signals

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