Decision Making

Crowdsourcing

Additional thoughts from yesterday’s blog, I came across more information about crowdsourcing. Two interesting links, one an article highlighting the creation of the online game Super Structure and the second is a link to the actual game website. The game requires numerous participants and relies on crowdsourcing to achieve the objective of saving the world.

http://discovermagazine.com/2008/sep/05-forecasting-the-future-may-be-a-matter-of-fun-and-games

http://www.superstructgame.org/

What are the advantages of the crowdsourcing? How could it support your planning and decision-making efforts?

If You Felt Like You Were Going In Circles

You knew it was true, the feeling that you were going in circles. Turns out we are all prone to re-trace our steps and circle back on ourselves when we lack reference points. I am reminded of hearing the same suggestion brought annually by the newest board members of an arts organization. They all saw there was a flaw in the membership program. The new board member (without prompting from others or conspiracy) made the identical suggestion each year. You could almost hear a chuckle in the room from the veteran board members. It took a few years for the ‘new’ members to become the majority on the board and the suggestion was adopted. Turned out to be a smashing success. Just took a few trips around the calendar before enough people became comfortable with not repeating the old course.

Great article about a human navigation in the wilderness: http://www.nytimes.com/2009/08/21/science/21circles.html

When It Gets Personal


Co-op Boards are a tricky group. Not only do you need to make decisions as a board member but then you truly need to live out the consequences of these decisions in your own home. Pick the wrong new owner, agree to let the doorman go, replace the outdated chandelier and you may have just started a new version of the War of the Roses.

Interesting article in the NY Times about when it all goes wrong? http://www.nytimes.com/2009/08/02/realestate/02cov.html

Is there a better way? How do you avoid decision-making that becomes so personal?

For Sale

I found a real estate magazines from ten years ago when I was listing a house for sale. I was back in the same resort town this weekend and compared the old to the current listings. Even with the current difficulties in the real estate market some of the same homes are on the market for a significant percentage increase when compared to the information I had from ten years prior. What may feel like a significant loss in value when compared to twelve months ago is quite a hansom gain if you expand your time horizon. How often do we get caught in the trap of feeling like we lost something (even if it is temporary) when in reality it is still a net positive? I recall an experiment where individuals would do significantly more to protect $50,000 that was potentially threatened by theft or loss than the same individual would do to gain $50,000 through an existing opportunity.

What is your time horizon? Do you protect what you have more vigorously than taking advantage of growth opportunities? Are you aware of how emotions impact your decision making?