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Steve Major Articles

Guest post by: Steve Major

MIND TRAP: Heuristic Thinking - Click To Read Article
There are traps we can fall into that can kill smart decisions. In this article Steve Major discusses the fourth of a series of five mind traps - heuristic thinking. We have various biases and maybe rule of thumbs that we don't realise are present in our thinking. Once we have made that decision we then justify it afterwards but we don't challenge that initial decision.

MIND TRAP: Ignoring the Evidence - Click To Read Article
Steve Major discusses the fifth and final mind trap out that we can fall into in making decisions - ignoring the evidence. This is where we are not facing the facts. The facts are there, but we are not facing them. You could say we are avoiding the facts. It's a form of denial.

MIND TRAP: When we don’t question assumptions - Click To Read Article
Steve Major discusses the second of five mind traps that can kill smart decisions - when we don't question assumptions. All of us have various beliefs as to what works in a business. We have various ideologies. You could say that we have entrenched thinking. But to make a smart decision we need to be aware of the fundamental assumptions that are in play in the alternatives we are looking at.

MIND TRAP: Perspective - Click To Read Article
There are traps we can fall into that can kill smart decisions. In this article Steve Major focuses on the third mind trap that we can fall into - perspective. It's where we ignore the whole picture. We automatically assume that what we have done in the past that seemed to be effective will continue to be effective into the future.

MIND TRAP: Following Fads and Fashion - Click To Read Article
Steve Major discusses the first out of a series of five mind traps that can kill smart decisions - following fads and fashions. He examines the issue of following fashions, business and personal. Sometimes we mindlessly copy what others are doing - we adopt without analysis.

Setting Savvy KPI’s That Work - Click To Read Article
KPI's provide a sound basis that you can utilise to build and develop your business, but the metrics that are being used must be the right ones. In a world where we can measure everything the brands and companies that will win are the ones who know what to measure. In this article Steve helps you to better understand the measures in your business that matter and how to set savvy KPI's that work!

The One Main Thing - Click To Read Article
The one main thing is what drives the business. It is a critical lead indicator that reveals the health of a business. What is the one main thing that your business needs to focus on? In this article Steve helps you to understand why the one main thing and one main measure is so important to your business. He provides some key questions to ask yourself so that hopefully you might be able to identify what the one main thing is that your business needs to focus on.

Moral Hazards of Metrics - Click To Read Article
Build on your awareness of moral hazards within business. Steve touches on seven moral hazards within business - quantitative versus qualitative; creativity, innovation and intuition can be put aside with metrics; no evolution, efficiency versus effectiveness; myopia; assumptions and biases; looking backwards not forwards. This article builds upon the work of Ron Baker of VeraSage Institute.

Lead versus Lag; Future versus Past - Click To Read Article
Businesses are often encouraged to have an array of Key Performance Indicators (KPI’s) to ascertain how they are progressing. Steve sees KPI’s as important, but also encourages businesses to widen their scope. He discusses the difference between lag and lead indicators and how we might drive and build future value within the business.

How the Right Information Can Mean Increased Profits - Click To Read Article
Business can get increasingly more complex as it grows. Gain a better understanding of your business and how it makes money by making sure you have the right information at your fingertips. Just a few key decisions being made with reference to the right financial information can lead to an exponential difference in business performance.

Efficiency versus Effectiveness - Click To Read Article
Everyday we are confronted with the message, to be more efficient. We could have the best measurement systems in place to measure the efficiency of the operations, but be producing the wrong thing or focusing on the wrong area - as a result, the business could fail, though it was highly efficient. What is going to build the future of our business does not come through efficiency; it comes through effectiveness.

All Metrics Will Be Gamed - Click To Read Article
The dynamics that are in play within the business and team must be understood. Lin Yutang in The Importance of Living (1998) very succinctly puts it "In short, my faith in human dignity consists in the belief that man is the greatest scamp on earth." It is only natural that people will try to take advantage of a measure in a business to 'game' the system - to interpret it in a way that makes it easier to achieve the number, or easier to obtain reward and recognition. As humans, we will try to take advantage of any interpretation that we can to help ourselves.

Referred by: http://www.dglong.com



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