andreweverett360 Book Review, Psychology & Neuroscience

Decisionscape: How Thinking Like an Artist Can Improve Our Decision-Making

Decisionscape: How Thinking Like an Artist Can Improve Our Decision-Making

by Elspeth Kirkman

“Knowingly or not, we often draw on the logic of pictorial space as a metaphor for our decisions. We use phrases like getting things in perspective or blowing them out of proportion… And we implore one another to zoom out or see the big picture.”

Elspeth Kirkman is a behavioral scientist who uses the analogy of art making to explain the psychology of decision making. “I call this mental representation the decisionscape… The central idea of this book is that we could improve our decisions, whether personal or professional, by constructing and analyzing it deliberately, just as an artist approaches the canvas.”

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andreweverett360 Book Review, General

WCVB-TV Boston: How We Built the Greatest Television Station in America

WCVB-TV Boston: How We Built the Greatest Television Station in America

by Robert M. Bennett (1927-2016)

In this memoir, the highlight of television executive Bob Bennett’s career was launching and growing WCVB-TV, Channel 5 in Boston. A major theme is his commitment to locally-produced programming. Another theme is Bennett’s leadership style, whereby he encouraged new ideas and risk-taking from his lieutenants, and inspired a sense of pride which brought out the best in people at all levels of the organization. It’s also a high-risk, high-reward story that could have turned out very differently.

The book is comprised of Bennett’s recollections interspersed with commentary from former colleagues.

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andreweverett360 Book Review, risk

Why Can’t You Just Give Me The Number?

Why Can’t You Just Give Me The Number? An Executive’s Guide to Using Probabilistic Thinking to Manage Risk and Make Better Decisions

by Patrick Leach

Decisions can be based on a deterministic calculation only in conditions of certainty, that is to say the input parameters are known quantities. But strategic decisions are often made in a context of uncertainty and complexity, where a definite answer is unknowable, so we must turn to probabilistic thinking.

Uncertainty. “I make the case that all value generated by business executives comes—directly or indirectly—from how they manage uncertainty. Without uncertainty, a share of a company’s stock is effectively a bond, with guaranteed future cash flows. Guaranteed bonds don’t need management. But stocks (or rather, companies issuing stock) certainly do.”

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andreweverett360 Book Review, Finance

HBR Guide to Buying a Small Business

HBR Guide to Buying a Small Business: Think big, buy small, own your own company

by Richard S. Ruback and Royce Yudkoff

This book provides a methodology to find, evaluate, finance, and acquire a small business. The autonomy of entrepreneurship is compelling to many, but the failure rate of start-ups is high—more than two-thirds of them never deliver a positive return to investors. In contrast, this approach seeks to buy and manage an existing “enduringly profitable” business. The authors teach a course in entrepreneurship through acquisition at Harvard Business School.

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andreweverett360 Book Review, Finance

The Psychology of Money

The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness

by Morgan Housel

Financial success is a soft skill, writes Morgan Housel, “where how you behave is more important than what you know.” This is a book about developing the mindset of a long-term investor, with a realistic attitude towards risk and reward. The book is conspicuously free of financial jargon and math. Here are some key points.

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andreweverett360 Book Review, risk

Risk Savvy: How to Make Good Decisions

Risk Savvy: How to Make Good Decisions

by Gerd Gigerenzer

Gigerenzer makes a distinction between risk and uncertainty. He uses the term risk “for a world where all alternatives, consequences, and probabilities are known… Most of the time, however, we live in a changing world where some of these are unknown: where we face unknown risks, or uncertainty. The world of uncertainty is huge compared to that of risk… We have to deal with ‘unknown unknowns.’”

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andreweverett360 Book Review, Finance

How Finance Works

How Finance Works: The HBR Guide to Thinking Smart About the Numbers

by Mihir A. Desai

This is an outstanding book which presents some complicated topics in a clear, well-organized manner with real-world examples. The author, a professor of finance and taxation at Harvard Business School and Harvard Law School, includes some sidebar commentary from two CFOs, an investment banker, and a hedge fund manager.

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andreweverett360 Book Review, Finance

Small Business Finance and Valuation

Small Business Finance and Valuation

by Rick Nason and Dan Nordqvist

A finance professor and a CPA have teamed up to explain finance and risk management concepts specifically for small business, defined as assets under $5 million. They acknowledge that the objectives of small business owners often differ from those of a Fortune 500 CFO, whose focus is typically maximizing shareholder value. Freedom, peace of mind, and other quality of life issues may be more important to a small business owner.

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andreweverett360 Book Review, risk

Risk: Why We Fear the Things We Shouldn’t

Risk: Why We Fear the Things We Shouldn’t—and Put Ourselves in Greater Danger

by Dan Gardner

“One of the most consistent findings of risk perception research is that we overestimate the likelihood of being killed by the things that make the evening news and underestimate those that don’t. What makes the evening news? The rare, vivid, and catastrophic killers. Murder, terrorism, fire, and flood. What doesn’t make the news is the routine cause of death that kills one person at a time and doesn’t lend itself to strong emotions and pictures. Diabetes, asthma, heart disease.” 

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andreweverett360 Book Review, Creativity

Eat, Sleep, Innovate

Eat, Sleep, Innovate: How to Make Creativity an Everyday Habit Inside Your Organization

by Scott D. Anthony, Paul Cobban, Natalie Painchaud, Andy Parker

My grandfather used to tell me I was full of beans when I was being rambunctious. In contrast, this book is full of BEANS—behavior enablers, artifacts, and nudges—which are ways to encourage a new behavior.

The book is about developing a culture of innovation—not just for engineers and scientists, but throughout the organization. Three of the co-authors are with Innosight, a consulting firm co-founded by Harvard Business School professor Clayton Christensen (1952-2020), who wrote The Innovator’s Dilemma. Paul Cobban is Chief Data and Transformation Officer at DBS Bank, the largest bank in Singapore.

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