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Post by ahrield on Jul 29, 2013 15:40:53 GMT -6
INSTANT MBA: Never Make Decisions Based On Assumptions
When running a business assumption is the number one thing that can ruin a company. In the work area you must make sure there is no type of assumption to keep everything in clear and also make no confusion about if, and, or buts. So as a manager make sure everything is explicit and on point.
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Post by stephaniemeyer on Oct 27, 2013 16:08:55 GMT -6
INSTANT MBA: Never Make Decisions Based On Assumptions
Kaplan's advice is mere common sense, to me. Of course you should never assume anything, much less make a major decision in business based on an assumption. If you could do this, there would be no need for research or advertising. For example, if the CEO of McDonald's just assumed that all of his customers would love hot dogs from McDonald's and invested millions of dollars to add these to the menu (just because Rally's sells hotdogs) I think he'd be making a huge mistake. Obviously, he'd first have to field test the sale of hotdogs at McDonald's in one particular region and then follow through with research and do some number crunching to see if offering this product would, in fact, yield a profit. Therefore, in business (and in life in general) a person should never assume anything and certainly should not make decisions based on assumptions.
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Post by brentgruber on Oct 29, 2013 19:03:34 GMT -6
I think it is very important to know all the details before making any decision. If you are making decisions based on faulty information you stand to make mistakes, miscalculations, or misjudgments. It is crucial to know the whole situation prior to making any rash decisions. The more informed you are the better decisions will be made and outcomes will be more reachable.
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Post by chrmichall on Nov 5, 2013 14:29:44 GMT -6
Instant MBA: Never Make Decisions Based On Assumptions
In this link it points out how assumptions can inaccurate and can hurt the decision making process. People that assume do not consider all things involved in the situation. This can hurt your company when a thing like this happens. The best way to prevent this from happening is to step back and evaluate the situation fully. This can pay off in the long run and can make your point in any debate you may have valid. When managing you debate in almost all situations and not assuming can help your position.
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Post by lana.guay on Nov 7, 2013 18:24:33 GMT -6
I think things are not always as they seem. Assumptions do not allow you to know the truth about an idea, person, or company. Assuming things create bad decision making. It is important to get the true facts before making decisions about something, or it could result in failure. With that being said, I believe this article to ring true: never make decisions based on assumptions only.
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Post by w0384905 on Nov 8, 2013 11:54:29 GMT -6
INSTANT MBA: Never Make Decisions Based On Assumptions
In the business world and if your personal life you never want to make decisions on assumptions. It is better to get the actually problem or source before you make your decisions. If you continue to assume and just make the decisions on assumptions you could be selling your business short. So build your business and make clear concise decisions based on facts and the truth, never assume.
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Post by sbardwell on Nov 16, 2013 9:19:54 GMT -6
INSTANT MBA: Never Make Decisions Based On Assumptions
This actually makes me laugh. Old “sayings” have been around for a long time because they are usually true. For example, “Assumptions makes fools out of you and me!” Why businesses would make major decisions on assumptions is beyond my understanding. It is too easy to research in today’s environment to be making assumptions about anything. Relying on assumptions for decision making is just pure laziness.
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Post by bneedham on Nov 16, 2013 15:32:05 GMT -6
INSTANT MBA: Never Make Decisions Based On Assumptions
I agree with the article for the most part, but I also know from experience that you do not always have the luxury of time to make a decision. I try to make educated decisions whenever possible and learn the facts before hand, but there are occasions whenever you must trust your gut and make a decision. A customer could fall and have a seizure in anyone's business and there is not time to go and take a poll from your employees or get on Google and research what to do. You have to go with your gut and make the best decision you can with the knowledge you have in some situations.
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Post by jameciadavis on Nov 17, 2013 19:08:57 GMT -6
INSTANT MBA: Never Make Decisions Based On Assumptions
People should never ever make any decisions based on assumptions. I believe that decisions should be made based upon facts and evidence. Assumption can often be wrong. So, if you make a decision based upon something concrete then the decision has a purpose. Decisions are made on a daily basis in a business, so it is important that those decisions are not based upon assumptions.
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Post by dipanjali1 on Nov 17, 2013 20:26:02 GMT -6
INSTANT MBA: Never Make Decisions Based On Assumptions
Business is not a guessing game. Yes, assumptions can lead to good decisions but chances are very less. Instead we should try to make a rational and calculated decisions because a lot might be on stake. When we make assumptions, lot of our biases come into play which can be have a devastating result.
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Post by katiebourgeois on Nov 18, 2013 9:08:34 GMT -6
INSTANT MBA: Never Make Decisions Based On Assumptions
Making a decision based on an assumption isn't only a problem in business, but in life as well. We do not realize we are basing our decisions off assumptions, and this is where the problem begins. These assumptions may be wrong to begin with, and we are making our decisions on wrong information. That leads to wrong decisions. In anything you do, it is important to be sure you evaluate the underlying assumptions as well.
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Post by ernestmajoue on Nov 18, 2013 12:28:48 GMT -6
Robert Kaplan says making assumption are bad. I agree with this and making assumption are not the best. In life we all make assumption and sometimes we are right and sometimes we are wrong. The same goes for the business world when we assume sometime about employees or the business. We need to look into the assumption. Take the time to see what the whole story could be about in the work place.
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Post by zekesonnier on Nov 19, 2013 9:48:26 GMT -6
INSTANT MBA: Never Make Decisions Based On Assumptions
I do not totally agree on the theory that assumptions drive bad decisions. In my opinion most decisions have to be made on an assumption to some degree. Whether the decision was evaluated correctly would be the underlying factor that determines if it were a good one or not. In many cases we can not know the future or obtain a concrete answer in lieu of an assumption. Much less, time is always a factor.
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Post by trey on Nov 19, 2013 10:46:24 GMT -6
INSTANT MBA: Never Make Decisions Based On Assumptions
Underlying assumptions can lead to death of any business. Often times people tend to go with the flow not even knowing how the flow was established or why it works. It is very dangerous for companies to continue to do things just because they've always done them, even though they are not working.
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Post by Holland Bussell on Nov 19, 2013 18:14:00 GMT -6
Due to the fact that many of these assumptions are based off of theories that we may have discovered or learned in class we tend to believe these assumptions. However in a business setting, especially finance, we can't necessarily believe them all because everything is unpredictable. Settings change daily so to blindly make assumptions will not aid your business decisions.
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