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Management Cheet Sheet 1
Management Cheet Sheet 1
Management Cheet Sheet 1
0
@Kevin Box
Application : Use for project management, helping teams to categorize tasks based on Application : Use it to minimize the impact of biases and emotions, and focus on a
their importance and urgency. . logical decision.
M S C W
decision-making, based on data and analysis.
All the requirements Requirements that Requirements that All the Requirements
that are necessary are important for are nice to have, but that have been
for the successful project completetion have a much smaller recognized as not a
com0pleteion of the but not necessasy. impact when left out priority for the
The Rational Decision-Making Model offers a
project. of the project. project’s timeframe.
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systematic and logical approach, leading to more
informed and effective decisions. It minimizes
What is the MoSCoW method?
emotional bias, ensures all options are considered,
The MoSCoW method is a four-step approach to prioritizing which project requirements and aligns decisions with factual data and
provide the best return on investment (ROI). MoSCoW stands for must have, should have,
analysis.
could have and will not have -- the o's make the acronym more pronounceable.
Source:lumanlearning.com
Source: techtarget.com
Application : Use it to encourage teams to think more deeply and critically about Application : Use it evaluate your business from different angles, and discover new
problems and decisions. ways to grow and improve.
The 6 Thinking Hats
The Six Thinking Hats: SWOT Analysis
Is used to encourage
comprehensive and A SWOT analysis is a
diverse thinking by
separating thinking
framework that
Internal
Application : Use it for gathering expert opinions to reach a consensus on complex issues. Application : Use it when timely responses are needed in dynamic situations.
Intuitive Decision-
The Delphi Method The Intuitive Decision-Making Model:
Making Model
The Delphi Method: Is a sophisticated approach where
managers rely on their experience and
expertise to make decisions. Initially, it Detect the
Is a qualitative and qualitative
might seem like it's based on gut feeling, problem
prospective tool, consisting of but it's actually a process where intuition,
an aggregation of (experts) shaped by years of experience, knowledge,
Business vision Learn the
opinions. It is a systematic and insider information, plays a key role. behind the patterns of the
method of formal Managers use this intuition to identify and problem problems
Important
The 5 Whys you organize and prioritize
Deadlines with Unclear
Consequences Deadlines tasks by urgency and
The method is remarkably Define the Problem importance.
simple: when a problem occurs, Why is it happening?
you drill down to its root cause Using the tool, you’ll divide
Delegate: Task Delete:
Important
by asking "Why?" five times. Why is that? your tasks into four boxes
that must get Distractions or
Not
based on the tasks you’ll do
Then, when a counter-measure Why is that?
done, but not Unnecessary first, the tasks you’ll schedule
becomes apparent, you follow
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Why is that? by you task
for later, the tasks you’ll
it through to prevent the issue Why is that? delegate, and the tasks you’ll
from recurring.
The Eisenhower
delete.
Root
Cause
Application : Use it to solve complex problems. Application : Use it to compare the good and the bad for any decision
10x Your Decision Making Dan Martell’s Ben Franklin's Pros & Cons Decision Making
1
Speed Method
Team has a problem!
1-3-1 Method
Pro’s Con’s
Define the Specific 1. 1.
Application : Use it to make critical decisions at lighting speeds Application : Leaders can use it to accurately categorize problems and apply the
1 1
measurable goals (e.g.,
Identify Key cost, reliability) for
Criteria decision-making.
5
2 2
2. Threshold Setting:
Define
Determine minimum
3 4
Acceptable acceptable standards for
Levels each goal.
3
Evaluate 3. Evaluate Options: Assess
Alternatives
alternatives using tools
4
like decision trees or
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Monte Carlo simulations.
Utility theory centers on the idea that utility is subjective and varies per individual, is
Iterate as 4. Continuous Adaptation: measurable often through surveys or behavioral observations, follows the law of
Necessary Update goals and diminishing marginal utility where satisfaction from additional consumption
standards as new decreases, and allows for comparison of utilities across different outcomes to inform
information or changes decision-making.
arise.
Application : Best utilized for structured, routine decision-making where clarity and Application : Use for encouraging individual contributions and preventing
consistency are essential. premature consensus or the dominance of louder voices in a group setting.
Flow-Chart Decision Process
The Stepladder Decision Technique
1. Structured Problem-Solving: It
provides a step-by-step Stepladder Technique: A 1. Starting with a Core Group: Beginning
approach to address specific method for structuring group the decision-making process with a
problems. decision-making by adding small team to establish the initial
2. Clarity and Transparency: The members one at a time. discussion.
visual flowchart format clearly 2. Sequential Input: Adding members to
delineates decision paths and the group one at a time to contribute
outcomes. new ideas and perspectives.
3. Standardizing Decisions: It 3. Independent Thinking: Encouraging
ensures consistency in decision- each new member to develop and
making across different
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Application : used in negotiations to identify the range where both parties can find Application : Use in situations where problems and solutions are unclear, and
mutually acceptable outcomes. traditional, linear decision-making processes are not effective.
ZOPA
respective Solutions are proposed
independently and then seek
minimum and
applicable problems.
maximum
acceptable terms
4. Random Timing: Decisions occur Decision Decision
based on the random alignment
overlap, indicating of problems, solutions,
Participants
a potential participants, and opportunities.
agreement can be The Zone of Possible Agreement (ZOPA) - can 5. Organized Chaos: The decision-
reached. dynamically shift during negotiations as parties share making process lacks clear
information and understand each other's positions, structure, resembling anarchy Problems
potentially expanding the range for agreement. within an organized setting.
Source:sbrconsulting.com Source:pmi.org
Application : Use is in pricing strategies, where initial price points set consumer expectations and Application : Used in marketing, where frequent advertising can make a product come to mind
influence their willingness to pay. easily, thus increasing the likelihood of its purchase by consumers.
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3. Adjustment: We adjust from the
anchor to reach our final
judgment.
4. Influence on Decision-Making:
It is a mental starting point that
significantly influences our
subsequent decision-making.
Source: 4weekmba.com Amos Tversky and Daniel Kahneman Daniel Kahneman and Amos Tversky Source:scribbr.com
Application : Use it for refining risk management strategies by leveraging human behavioral Application : Use it in emergency response training, where responders use their experience to
patterns in decision-making uncertainty. quickly recognize patterns and make effective decisions under pressure.
strategies.
5. Human-Centric: Employs
behavioral insights for
realistic decision-making
models.
Source: slidesmodel.com Daniel Kahneman and Amos Tversky Gary Klein Source: slidesalad.com
Application : Use it is to aid in complex decision-making by visually mapping out choices, outcomes, and Application : Use it to optimize operational processes by identifying and managing the most
their probable impacts. limiting factors (constraints) to achieve desired goals.
Source:asana.com R.A. Howard and C.W. Matheson Dr. Eliyahu M. Goldratt Source:creativesafetysupply.com
What is Blue Ocean Strategy? The Four Actions Framework The 4 Actions Framework
Blue Ocean Strategy is a marketing approach that encourages creating new market This framework helps businesses reconstruct
1. Eliminate: Identify and
spaces or "blue oceans" rather than competing in oversaturated markets, or "red oceans." market boundaries and focus on innovation, remove factors that the
This strategy focuses on innovation to create value for both the company and the rather than competition. industry takes for
customer, differentiating the brand and making competition irrelevant. It's about finding granted but are no
and exploiting new opportunities, rather than fighting over existing demand.
longer valuable to
customers.
2. Reduce: Decrease
Cost Red Ocean Strategy Blue Ocean Strategy elements well below the
vs. industry's standard to
Focus on Current Focus on Current
Customers Customers streamline operations
Compete in Existing Markets Create Uncontested Markets
and costs.
3. Raise: Enhance factors
Beat the Competition Make the Competition Irrelevant above the industry
Value standard to provide
Innovation
Exploit Existing Demand Create and Capture New Demand better value to
customers.
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Make the Value-Cost Trade-off Break the Value-Cost Trade-off 4. Create: Introduce new
elements that the
Align the whole system of a firm’s activities with its Align the whole system of a firm’s activities in
strategic choice of differentiation or low cost. pursuit of differentiation and low cost. industry has never
offered, creating unique
Buyer Value value and demand.
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3. Different Form and
setting strategic prices that appeal to a wide customer base. management levels, and
Function, Same
Managers need to consider the trade-offs buyers make Objective prompts a deep evaluation
during purchase decisions, along with ensuring sufficient legal of industry factors and
and resource protection to prevent imitation by competitors. assumptions.
Three Key Components of a Blue Ocean Shift Four Hurdles to Strategy Execution
Once a company develops a blue ocean strategy with a
profitable business model, executing the strategy becomes
the next challenge. This is often more difficult than in The 4 Hurdles:
3 Key Steps: traditional red ocean contexts due to the significant
1. Cognitive Hurdle:
departure from the status quo. Successful execution involves
1. Buyer Utility: Check if your Convincing employees
overcoming four key organizational hurdles.
offering provides exceptional of the need for
utility and a compelling strategic change.
reason for mass purchase. 2. Resource Hurdle:
Addressing
2. Pricing: Ensure pricing appeals
assumptions about
to target buyers, enabling the resources needed
market buzz and purchase for major strategy
ability. shifts.
3. Cost: Assess if the offering can 3. Motivational Hurdle:
be Encouraging key
players to actively
support change.
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1. Adopting a Blue Ocean Perspective: Think beyond conventional practices to ID new 4. Political Hurdle:
opportunities. Overcoming internal
2. Practical Tools for Market Creation: Use visual and easy-to-understand tools to turn innovative opposition to new
ideas into marketable realities. ideas.
3. A Humanistic Process: Foster a supportive environment that encourages team confidence and
strategic execution.
Source: blueoceanstrategy.com Source: blueoceanstrategy.com
Application : The model encourages organizations to look beyond direct competitors when assessing Application : Used to evaluate a company's resources and capabilities to determine if they
strategy and, instead, consider broader environmental forces can provide a sustainable competitive advantage.
Porter's Five Forces Analysis This model analyzes the VRIO Framework
competitive environment of a
business, focusing on:
1. Supplier Power: Influence
of suppliers on prices.
2. Buyer Power: Customers'
impact on pricing and
quality.
3. Competitive Rivalry:
Intensity of market
competition.
4. Substitute Threat: Ease of
customers switching to 1. Rare: Unique resources limited to few companies.
alternatives. 2. Inimitable: Resources difficult to copy due to unique history, unclear causal
5. New Entrant Threat: links, or complex social structures.
Barriers to new 3. Organization-Wide Support: Effective use and management of resources
competitors entering the through suitable organizational structures and systems.
market.
Source: edrawmind.com Source:speakingnerd.com
Application : Use it for executing and sustaining organizational change, focusing on steps from Application : Use it to connect the dots between the various components of strategic planning
establishing urgency to integrating new approaches into the culture. and management.
Application : Use it for for guiding strategic business decisions, particularly in resource allocation and Application : Use it to optimize business operations for a competitive advantage, either through
portfolio management across different business units within a large corporation. cost reduction or value enhancement.
Nine-Box Matrix
1. Portfolio Analysis: Provides a clear
framework for analyzing a
company's business portfolio.
2. Resource Allocation: Guides
effective allocation of resources to
the most promising business units.
3. Strategic Insight: Offers strategic
insights into market attractiveness
and business unit strength.
4. Decision Making: Aids in making
informed decisions about
investment, divestment, or The Value Chain Analysis Model Highlights Model Highlights
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Source:productmindset.substack.com
Source:ecampusontario.pressbooks.pub
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the duration of the Team Call Step 3: Estimate how
timer long each task will
4. Take a 5 minute break Break
take.
5. After every 4th break,
Deep Work
take a 15 - 30 minute
Break Time Step 4: Block out time
break. Emails
in your calendar.
Claify Organize
⏰ Effectively manage your Immediate attention needed. Delay
leads to serious consequences.
time and available resources. Example: Deadlines, urgent
Capture Reflect
🤹♂️ Deal with personal and deliveries.
B-Tasks: Important but not
professional commitments. immediate. Plan them in your
Engage
on the work that matters. C-Tasks: No serious impact if
undone. Balance professional and
🗓️ Plan your days so you personal life. Example: Social
gatherings, leisure activities.
always know what to do next.
Data Refine Review Next D-Tasks: Delegatable. Assign to
🌱 Establish a productivity
Actions
others to focus on priorities.
E-Tasks: Unnecessary. Remove to
routine that’ll serve you for
save time. Example: Reducing
life.
frequent chores.
The Halo Effect vs. The Horn Effect Sunk Cost Bias
Continuous
Higher Equity Threat
Positive
Exposure Management
Lower Equity
Sunk Cost Bias: Concise Tendencies:
Impression Affinity Bias Insights Influenced by past
1. Emotional Investment: Strong investments.
emotional ties amplify Continues despite losses.
reluctance to disengage. Ignores current realities.
2. Duration Effect: Longer
More Trust & Lesser Value or Avoids admitting mistakes.
involvement intensifies
Better Value Low Trust commitment, despite losses.
3. Social Image Concern: Fear of
perceived failure strengthens
the bias.
Halo Effect: Horn Effect: 4. Incremental Commitment:
Small, repeated investments
Positive bias from one trait. Negative bias from one trait. make disengagement harder.
Idealizes attributes. Focuses on negatives. 5. Overoptimism: Belief in turning
Ignores flaws. Exaggerates flaws. around failing projects against
Positive generalization. Negative generalization. odds.
.
Prefer the existing state of Status Quo Bias Groupthink is a psychological phenomenon
where the desire for harmony and conformity
Group Think Bias
affairs over change. in a group leads to irrational or dysfunctional
decision-making.
Status Quo Bias: The preference for the
current state of affairs. Effective leaders Illusion of
challenge the status quo by embracing Invulnerability
Illusion of
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Application: Use it for executing and sustaining organizational change, focusing on steps from Application: Ideal for collaborative negotiations, where building long-term relationships is as
establishing urgency to integrating new approaches into the culture. important as the agreement itself.
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implementation. 4. Insist on objective criteria.
6. Evaluation: Review the 5. Know your BATNA (Best Alternative
To a Negotiated Agreement).
process, outcomes, and
learn for future
negotiations.
Application : Best for single-issue negotiations like price haggling, where the parties are competing to Application: Use it to balance price with value, respect cultural differences, assess your
get the best deal. leverage realistically, ensure internal team alignment, and plan for effective agreement
implementation.
Distributive Negotiation The 5-Steps to the Negotiation Strategy
Distribution Negotiation
Model Model: 7 Common Pitfalls to Avoid 1. Price Fixation:
Overlooking non-
Assuming that Cross-Cultural
1. Define your target point price terms.
Negotiations are Just Like “local”
and resistance point. Negotiations 2. Cultural Blindness:
Paying Too
20%
2. Understand the other Thinking the Pie Ignoring cultural
is Fixed Much Attention
party's target and to Anchors influences.
resistance. Failing to Pay 3. Overconfidence:
Caving in Too
Attention to Your
3. Push for concessions Opponent
Quickly Misjudging leverage.
and compromise. 4. Internal Discord:
Poor Planning Don’t Gloat
Underestimating
80%
4. Employ tactics to
enlarge the pie. team dynamics.
5. Use persuasion and 5. Post-Negotiation
Oversight:
influence to achieve
Neglecting long-term
goals.
agreement
implementation.
Sharing The Pie
Source: wallstreetmojo.com Source: sketchbubble.com
Application : Effective in scenarios where ethics and fairness are paramount, such as partnership
Application: RADPAC is especially effective in situations where building a constructive relationship is Application: Effective in scenarios where ethics and fairness are paramount, such as partnership
agreements.
key to achieving a mutually satisfactory outcome. agreements.
Principled Negotiation
The RADPAC Model
Getting to Yes!
1. Focus on mutual
interests.
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2. Be fair and
The 4 principles of the reasonable.
Harvard Method: 3. Avoid bottom-line
thinking.
1. Discuss factually
2. Focusing interests 4. Communicate
3. Develop decision options clearly and
4. Create objective decision effectively.
criteria 5. Be open to reason
and alternatives.
Source:slidegrand.com Source:ahaslides.com