Poker is a game that requires complex decision-making in order to be successful. Should I play this hand? How much should I bet? Can I call my opponent’s bluff? In the Ted Talk linked below, Liv Boeree applies the main aspects of poker decision-making (luck, quantification, and intuition) to everyday life. The three components of decision-making can be applied to one’s professional career as well.
Like poker, management positions in the IT field require strong decision making. How can we become more profitable? Which platform should we invest in? Who should we let go? These three example problems can be analyzed using Boeree’s decision-making components respectively. First, we have luck. Has our company’s success been lucky up to this point? If so, the company may require some major changes to ensure long-term growth. Next, we have quantification. In order to know which platform to invest in, we must first understand the costs and benefits associated with each option. Is there a greater expected return with option 1 than option 2? Finally, we have intuition. Letting people go can be the hardest decision a manager has to make, which is why it cannot be left up to a “gut” feeling. Data must be utilized to make the best decision for the company and minimize any room for error.
What every successful business leader has in common is the ability to make decisions effectively. By mastering these three components, budding MIS professionals can enhance their impact on an organization and ensure a successful career path in the long run.
The Ted Talk can be found here: https://www.youtube.com/watch?v=nisSeC81u2M
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