Skip navigation
Problem Solved!
Book

Problem Solved!

The Secrets of Decision Making and Problem Solving

CreateSpace, 2014 more...

Buy the book


Editorial Rating

7

getAbstract Rating

  • Applicable

Recommendation

For the past 30 years, Reese’s Pieces have been hugely popular, thanks in part to their starring role in the classic movie E.T. Originally, director Steven Spielberg’s production firm, Amblin Entertainment, approached the Mars company and asked if it could feature Mars’s M&M’s candy in the film. Mars said no. Amblin turned to the Hershey Company, and its Reese’s Pieces gained priceless exposure. Unfortunate business decisions such as Mars’s decision to opt out of a Spielberg movie are more the rule than the exception. Experienced executive David Goldsmith hopes to change that. He writes with zest and experience, despite some proofreading errors. To help businesspeople make better decisions, Goldsmith introduces and synthesizes tactics from other experts and adds an accessibly light analysis. getAbstract suggests his basic overview as a concise jumping-off point for decision makers.

Summary

A Bad Decision That Cost $179,999,250,000

In 1999, during the dot-com frenzy, the Excite company led the nascent search-engine category, and Google was just another rival. Sergey Brin and Larry Page, Google’s founders, offered to sell their company to Excite for $1 million. Excite turned them down. Brin and Page reduced their price by $250,000, but Excite still didn’t bite. Today Google is worth approximately $180 billion. The future is unpredictable, but, nonetheless, that wasn’t a good decision-making day at Excite.

Intelligent decision making is an essential business skill. Despite their importance, prudent decision-making skills – and their vital component, problem-solving ability – remain in short supply. Instead of using strategic, critical thinking coupled with an objective, analytical weighing of alternatives, many businesspeople rely on their visceral, knee-jerk reactions when faced with a crucial decision. This results in recurring unsolved problems that force companies into a futile withering away of resources and declining profits. This is a sign of the times: In 1955, the typical Fortune 500 company stayed in business for about 75 years. Today...

About the Author

David Goldsmith is the founder of The Goldsmith Group. His business articles appeared in leading business journals and magazines in Australia, Canada, Europe and the United States.


Comment on this summary

More on this topic

Related Skills

AI Transformation
Atraiga y reclute talento
Conviértase en un aprendiz autodirigido
Sea más adaptable
Comuníquese eficazmente
Desarrolle la organización
Drive AI Transformation
Fomente una cultura de innovación
Foster Team Culture
Recursos humanos
Innove estratégicamente
Lidérese a sí mismo
Leverage AI for Business Strategy
Leverage AI for Leadership
Leverage AI for Management
Leverage AI in Your Daily Tasks
Manage Learning and Development
Manage People and Talent
Crecimiento personal
Habilidades blandas
Strengthen Team Collaboration
Comprenda las organizaciones
Habilidades para el lugar de trabajo
Desarrolle sus habilidades de pensamiento
Innovación
Desarrolle productos innovadores
Emprendimiento
Cultive una mentalidad de crecimiento
Cultive la curiosidad
Sea creativo
Impulse el rendimiento de la organización
Piense analíticamente
Compréndase a sí mismo
Haga mejores preguntas
Drive Team Performance
Navegue por la incertidumbre
Estudios de caso de liderazgo ejecutivo
Lidere en las crisis
Facilite la ideación grupal
Aproveche la ambidestreza
Navigate Leadership Challenges
Administración
Planifique estratégicamente
Piense estratégicamente
Choose AI Priorities
Finalice decisiones de contratación
Gestione el impacto de su liderazgo
Use AI for Decision Support
Liderazgo
Promueva la creatividad
Piense científicamente
Decida bajo incertidumbre
Seleccione ideas
Piensa críticamente
Tome decisiones basadas en datos
Comprenda la cognición
Lidere estratégicamente
Comprenda el aprendizaje
Colabore de forma creativa
Tome decisiones en grupo
Mitigue los sesgos cognitivos
Desafíe las suposiciones
Genere ideas
Comprenda los enfoques de liderazgo
Resuelva problemas
Tome buenas decisiones
Liderazgo ejecutivo
Domine el razonamiento lógico