Strategic Management Practices Issues Group: Decision Making in Uncertain Times
September 17, 2010: 7:30 AM - 8:45 AM
Please join us on Friday morning, September 17, to share your reactions to the ideas presented in these references. Our host will provide the coffee, but we count on you to bring the requisite conversational energy. We meet from 7:30 to 8:45 AM at U.S. Trust in the Chicago Loop. Start your Friday morning by updating your MBA, interacting with fellow Booth alums, expanding your professional network - and still make it to the office by 9AM.
231 South LaSalle
It appears that we are living in a time of great uncertainty, but our responsibilities to make decisions have not changed. It seems a perfect time to look for relevant frameworks, for some references on how to look at the problems that surround us, and for precedents on how to take action.
Daniel Kahneman and Amos Tversky, whose work forms much of the basis of behavioral economic theory, won the Nobel Prize for a concept that has become known as prospect theory. You can read a summary of their work at http://prospect-theory.behaviouralfinance.net/. This will provide good background for those who are not already familiar with their writings.
To prepare for this month’s discussion, please review the following:
Managerial Decision Making Under Risk and Uncertainty http://www.iaeng.org/IJCS/issues_v32/issue_4/IJCS_32_4_12.pdf
Michael Hastings’ recent interview with General Stanley McChrystal in Rolling Stone, “The Runaway General”
And finally, an excellent discussion between Nassim Taleb, author of The Black Swan, and Daniel Kahneman entitled, “Reflection on a Crisis.”
This video runs about an hour in its entirety.
You must register online by 5:00 PM on September 15th to attend this event. A current e-mail address and phone number will be required. Please arrive early enough to allow time to clear building security on the morning of the discussion.
If your plans change, please notify us as soon as possible so that we can offer your seat to someone else. Attendance is limited to 20 persons.
Bob Rieder, '06