Simple rules for complex choices
During the boom, many managers dodged tough choices because abundant resources could fund most requests. In the current recession, resources have evaporated while opportunities to acquire struggling...
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Simple rules in action
My last post introduced simple rules as a practical technique to allocate scarce resources to their best use. The approach works across a range of processes, such as capital budgeting, investment...
View ArticleFast, frugal, and good enough: Individual benefits of simple rules
In the boom, abundant resources allowed managers to avoid hard choices–they could spread cash evenly over alternatives like peanut butter on a slice of bread. In the current downturn, scarcity of cash...
View ArticleSimple rules to balance structure and flexibility
My last post summarized research showing that simple rules work as well or better than sophisticated analyses, using less time and data. To date, this research has focused on individuals...
View ArticleSimple rules to coordinate
My previous post illustrated how simple rules can structure organizational processes, such as capital budgeting or new product development, while leaving flexibility for employees to exercise...
View ArticleCreating simple rules that work
Simple rules can improve decision making, balance structure with flexibility, and foster coordination in organizations. Implementing simple rules consists of three steps: select a critical process,...
View ArticleFive mistakes to avoid with simple rules
Simple rules are a practical tool to guide choices, balance flexibility with structure, and improve coordination in organizations. To implement the tool, managers create a set of rules to guide a key...
View ArticleDisciplined entrepreneurship at ONSET Ventures
Entrepreneurs can pursue an opportunity much as scientists pursue knowledge–by following a disciplined process of identifying an anomaly in the market, formulating a plan to fill the gap, testing their...
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