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The Art and Science of Decision-Making
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  1. The Art and Science of Decision-Making April 28, 2014 Robert S. Duboff Robert.Duboff@hawkpartners.com 617-576-4701

  2. How Facts/Data Can Add Value to Decision-Makers • Information • Ideas • Recommendations • Options/Alternatives • Framing/Models • Trends

  3. Anticipated Use of Information in Decision Use of Information Lamp Post Shed Light/Insight Art View of the Information Science

  4. Variables on Communication • Ethics • Visibility/transparency • Clear accountability (individual vs. group)

  5. Persuasion (per Aristotle) • Credibility • Rational • Emotional

  6. Decision-Making Situations for Persuasion • Winner take all • NegotiationOR: • Focus on process instead of outcome?

  7. Negotiation Styles – Two Basic Forms • Position-based Negotiation • A me vs. you method of negotiation • Based on each side taking a position and holding to it as best they can • Principled Negotiation • A collaborative method of negotiation • Based on merits and interests

  8. Position-based Negotiation • Two sides take a position and a counter-position • Information exchanged between parties is limited and often needs to be found through other means • Offers are exchanged until someone accepts or walks away

  9. The 4 Principles of Getting to Yes (principled negotiation) • Separate the people from the problem • Focus on interests, not positions • Invent options for mutual gain • Insist on objective criteria

  10. Leverage your “BATNA” • BATNA stands for Best Alternative to a Negotiated Agreement – essentially, what is your best alternative if you decide to walk away • Knowing your BATNA helps you understand your degree of leverage • Knowing both your and the other party’s BATNA can definitely define your degree of leverage • It is generally in your interest to clearly reveal your BATNA if you know it is a strong one, especially if you know it is stronger than their BATNA

  11. Planning • Negotiations consist of a series of discussions • Preparing for those discussions greatly improves any negotiation • Planning includes both preparing your own case and anticipating the other party’s “game plan” and how you might effectively respond • Key is to think through framing, questions and the others involved • Project yourself • Use stereotypes/narrative • Infer from actions Source: Mindwise, Nicholas Epley.)