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Two Types of Risk

In our last blog we learned that there are two classifications of of risk:  

the risks you take, where you have control and the risks you face which are caused by involuntary events. (Read "What does risk mean to you?")

Here we will discuss the risks you face.

Even as we are faced with risks from involuntary events in the environment or past...

What does risk mean to you?

Perhaps you’d say risk is the chance or danger that something is going to happen to cause you to lose something or fail to achieve some goal?

WIkipedia defines Risk as the potential of gaining or losing something of value.   But did you know there are two types of Risk—the risks you take and the risks you face?  With the former you have control...

Effective Decision Making: The common managerial blind spot that can kill productivity

Being a good leader requires more than just knowing the right way to do things. It also requires knowing how to choose the right things to do. Decision-making is undoubtedly the most difficult and essential task a manager performs. Effective decision making makes it possible for organizations to succeed by aligning resources with objectives....

Tesla Test Drive

Can Expert Choice Comparion improve on the Black Sholes Options Pricing Model?

Take the Tesla Test Drive to help find out!

Ernest Forman, DSc., Professor of Decision Sciences at The George Washington University, is studying to determine if the combination of decision science and crowd sourcing can outperform the Black-Scholes approach for pricing...

Presidential Voting Model

Find Your Political Match – Why should dating sites have all the fun?

It’s time again to elect the next President of the United States. Not to mention Congress and your state and local representatives.  Arguably, as important as picking a potential partner.

So, how do you analyze the criteria determining which candidates are the best for you and...

Wisdom of the Crowd Decision-Making

The increasingly interconnected world no longer supports the belief that decision-making is best left in the hands of an enlightened elite. Sharing relevant enterprise-information across projects and/or departments engages workers and can improve performance.  Leveraging available social media develops more robust channels of internal...

Fiscal Cliff Readiness: Portfolio Optimization and Sequestration

 

Fiscal cliff readiness?  How can we manage the damage sequestration can cause to our programs?

As a nation, we have agreed to reduce our spending and deficit levels.  We agree that we need to tighten our belts.  But, in the interest of our fiscal prosperity, as well as our safety, security, and national defense, we need to recognize that cutting...

Fiscal Cliff Readiness: Portfolio Optimization and Sequestration

Fiscal cliff readiness?  How can we manage the damage sequestration can cause to our programs?

 

As a nation, we have agreed to reduce our spending and deficit levels.  We agree that we need to tighten our belts.  But, in the interest of our fiscal prosperity, as well as our safety, security, and national defense, we need to recognize that cutting...

Rational Decision Making is Subjective Decision Making

Did you know that all important decisions are really subjective?  This means that you are wise to consider subjective factors, and resist calls to rely only on "objective facts" when you make important decisions.  Here's why.

Rational decision makers consider multiple objectives

Strong decision makers rarely choose an alternative based upon a...

Rational Decision Making is Subjective Decision Making

Did you know that all important decisions are really subjective?  This means that you are wise to consider subjective factors, and resist calls to rely only on "objective facts" when you make important decisions.  Here's why.

 

Rational decision makers consider multiple objectives

Strong decision makers rarely choose an alternative based upon a...