Contents

Introduction

Prologue

What Are Heuristics? (Rules of Thumb)

                   Vignette: The Merger Fiasco

                   Formal or Informal Decision Making: What Works?

                   What Is a Rule of Thumb?

How Do Business Executives Make Decisions? (Do Rules of Thumb Count?)

                   It Is Lonely at the Top

                   Vignette: The Doctor Knew Right Away

                   Theoretical, Vicarious, and Experience-based Decisions

                   Lessons learned: Heuristics

When You Do Not Decide, You Have Decided (Do Not Procrastinate)

                   Vignette: The Pandora Box

                   Lessons Learned: Decide Early

                   Vignette: All Is Fine

Why Technology Is Not Important—Or Is It? (Computers Are Dumb)

                   Vignette: The books are in German

                   Lessons Learned: Technology is Not the Only Solution

                   Vignette: The Baseball Bat

                   Lessons learned: Why IT matters

Experience Counts (What You Do Not Know Is Important)

                   Vignette: The gun

                   Lessons Learned: Know thy Customer

                   Vignette: Volume is a Double-edged Sword

                   Lessons Learned: More Can Hurt

Learn from Your Failures (Do Not Reinvent the Wheel)

                   Vignette: The Wrong Estimate, Again

                   Lessons Learned: Whose Reality Counts?

                   Vignette: Make a decision

                   Lessons Learned: When In Doubt, Do It Both Ways

Personal Presence Management (Your Time Is Not Yours)

                   Vignette: Daddy When Are You Coming Home?

                   Lessons Learned: Family Matters

                   Vignette: Who Works On Weekends?

                   Lessons Learned: Slow Down

                   Warning Signs of Burnout

Safety First (Without It Nothing Else Counts)

                   Vignette: Fire!

                   Lessons Learned: Check, Then Check Again

                   Vignette: The School Van

                   Lessons Learned: What If

People Count (Show Them)

                   Vignette: The Marketing Event

                   Lessons Learned: Top Down or Bottom Up?

                   Lessons Learned: Nobody can be a Prophet in His Own Land

                   Vignette: A Moderator

                   Lessons Learned: Employees’ Input Counts

Quality Is Free (The Devil Is in the Detail)

                   Vignette: Defects Too?

                   Vignette: The Bicycle

                   Vignette: Charged Air Coolers

                   Lessons Learned: Never Give Up

Believe in Numbers—But Not Too Much (What You Can Measure, You Might Manage)

                   Vignette: The Columbia disaster

                   Vignette: The Capital Investment Decision

                   Vignette: The Eternal Optimist

                   The Challenge of Knowledge Transfer

                   Lessons Learned: The Knowledge Sausage Slicing Method

The Customer Is Always Right (Most of the Time)

                   Vignette: The Customer Is Not Always Right

                   Vignette: Is the Customer “King”?

                   Vignette: Deficient Product

                   Lessons Learned: Value of a Demanding Customer

If It Ain’t Broken, Break It (Innovate)

                   Vignette: Five Monkeys

                   Vignette: The Accounts Receivable Policy

                   Vignette: The President’s Office

                   Lessons Learned: Paradigm Shift

Managing Errors (No Blame)

                   Vignette: Preparing for the Inconceivable

                   Lessons Learned: 9/11

                   Lessons Learned: Murphy’s Law

The Dog Ate My Shipment (The Inconceivable Is Not So)

                   Vignette: Avalanches

                   Vignette: The Ship Sank

                   Vignette: The Company Credit Card

                   Lessons Learned: Expect the Unexpected

Let Go of the Banana (Delegate) or (Delegation Pitfalls)

                   Vignette: How to Catch a Monkey

                   Vignette: Micromanagement

                   Delegate

                   Lessons Learned: Delegate?

Everybody Knows the Future (Is Planning Overrated?)

                   Planning Is Not Important

                   Why The Past Counts?

                   What Is Planning?

                   Lessons Learned: Planning?

Complexity Is Out—Simplicity Is In (Less Is More)

                   Vignette: It Is Too Complicated

                   Vignette: Every Software Function Is Not Needed

                   Useless Complexity

                   Lessons learned: Thinking Process Types

Meaningless Choices (Decisions That Do Not Matter)

                   Vignette: New Employee Benefits

                   Lessons Learned: Open Communications

                   Vignette: Three Tailors

                   Vignette: The Website

                   Lessons Learned: Website Usability

The Bank Manager Is Not Your Friend (Do Not Go to the Bank with a Problem)

                   Vignette: The Bank Letter

                   Erroneous Assumptions

                   Lessons Learned: The Solution

The Government Can Help (This Is Not a Joke)

                   Vignette: Steel Plates

                   Vignette: The Female Workforce

                   Lessons Learned: Working With the Government can Be Beneficial

Do Not Quit Your Day Job(Buying a Lottery Ticket Is Not Winning the Lottery)

                   Vignette: The Perfect Business Plan

                   Where to Start?

                   Some Business Failure Statistics

                   Why Do Many Small Businesses Fail?

                   Top 10 Reasons Why Businesses Fail

Lessons Learned—Do Not Give Up Your Day Job

Endnotes

Index

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