Tonight’s episode gave us a litany of business lessons, a further reminder of the importance of demeanour but, ultimately for me, one really important principle to focus on: decision making. The teams’ task was to select two urban artists to represent and to mount a one night show and sell to maximise the commission on sales, including to a corporate buyer. Whilst urban, or street, art is a familiar part of modern cityscapes, few of us understand the market, so...
Read MoreOver the last two weeks, I have been considering the role and nature of creativity in The Apprentice: - Why it is important and how the 2012 candidates appear to stack up in their current business activities - How a project manager can get creative ideas from their team Now it is time for the last installment: once you have some ideas, how can you best evaluate them to give your team the best chance of working with a good...
Read MoreSubstance or Impression?
“Both” say researchers Melanie Dempsey (of Ryerson University) and Andrew Mitchell (of the University of Toronto). Their 2010 study* had three stages. Stage 1 They exposed experimental participants to hundreds of screen images. Among the images were images linked to two invented brands of pen. One brand was designed to be far superior to the other. The images included 20 positive images connected to the inferior brand, and 20 negative images linked to the superior brand. Stage 2 Participants were...
Read MoreIt’s not just the question: it’s how you ask it
There is a lot of interest on the news channels for how the Scottish Government wants to frame the question for its proposed referendum on Scottish devolution. Does it really matter, as long as the question is clear? The answer turns out to be a might “Yes it does” and this should result in a huge political tussle over the referendum wording. Professional pollsters know this. When a client wants an opinion poll, the pollsters can frame their questions with...
Read MoreCognitive Bias in Team Decision Making
Readers of my regular newsletters will have got a newsletter titled “Beat Bias” last week. If you didn’t, there is a sign-up box below. If you did get it and the short article piqued your interest, I notice a splendid and very timely article on the Harvard Business Review site. It is co-authored by Nobel Laureate, Daniel Kahneman. Kahneman, along with his long-time co-worker Amos Tversky, are the most influential researchers in the area of cognitive bias – I would...
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