Business Archives

The 3 Core Principles of Objective Decision-Making

Why is objective decision-making important? How do you make objective decisions? Objective decision-making is important because it helps you focus on verifiable facts and embrace contrary thinking that may be more correct than the prevailing wisdom. You can always stay objective by recognizing that it’s easy to delude yourself, readily entertaining other opinions, and being willing to destroy your favorite ideas. Read on to discover the 3 steps to objective decision-making.

The Key Components of a Successful Conversation

Do you know how to engage in small talk? What are the mechanics of a successful conversation? Should you prepare in advance? In her book The Fine Art of Small Talk, Debra Fine breaks down all of the components of a successful conversation. She gives you advice for questions and answers you should prepare in advance, how to actively listen, cues to give your partner, and how to speak assertively. Here are Debra Fine’s tips on how to hold a successful conversation.

The 10-Point Charlie Munger Checklist for Investing

What is the rationale behind Charlie Munger’s checklist? What are the core principles in the investment checklist? Charlie Munger’s checklist for investing is based on his latticework of mental models that help him identify and avoid cognitive biases that could lead to bad investment decisions. The checklist emphasizes thinking independently, analyzing vigorously, measuring risks, and allocating assets wisely. Read on to discover more about Charlie Munger’s Checklist for investing.

The 4 Common Investment Mistakes to Avoid

What are the four common investment mistakes? Why do investors fall prey to investment pitfalls? Common investment mistakes you must avoid include adopting overly complex investment models, listening to false oracles, combining companies with flawed synergies, and buying into companies that don’t expense stock options. The mistakes happen because of the competitive and profit-seeking nature of investors. The desire to get ahead and not lose out leads to avoidable and costly mistakes. Read on to discover more about the four common investment mistakes you must avoid.

The Culture Map: Discussion Questions & Exercises

Are you looking for The Culture Map discussion questions? What are some of the key themes and ideas to discuss? In The Culture Map, Erin Meyer presents a framework for analyzing cultural differences on eight dimensions. By understanding both your own and another culture’s position on each dimension, you can relate to each other better so that you can accomplish your business goals. Here are some discussion questions and exercises that will help you consider the book’s lessons in the context of your own life.

Poor Charlie’s Almanack: Book Overview

What is the book Poor Charlie’s Almanack about? What investment tips can you get from the book? The Poor Charlie’s Almanack book is a collection of Charlie Munger’s best advice given over 30 years in the form of roundtable talks and public speeches. On investing, Charlie emphasizes investing in high-quality businesses with good management and established competitive advantages. Read on to learn more about the lessons on management and investing from the book Poor Charlie’s Almanack.

How Do People View Time in Different Cultures?

How do people of different cultures perceive time? What is the difference between linear time and flexible time perception? Understanding how other cultures perceive time is crucial for maintaining beneficial business relationships. Otherwise, you might be furious that you’ve been kept waiting—then become even angrier when your partner arrives and not only doesn’t apologize but is also confused as to why you’re so upset. In her book The Culture Map, Erin Meyer classifies the perception of time in different cultures into two broad categories: linear-time (aka monochronic) and flexible-time (aka polychronic). In this article, we’ll explore the differences in time

Tips & Questions to Ask to Keep a Conversation Going

How can you keep a conversation flowing smoothly? What kinds of questions should you ask to keep a conversation going? There are two methods you can use to keep a conversation going smoothly: asking open-ended questions about the other person and following up on their answers with additional questions. By avoiding straightforward questions, you give yourself the opportunity to connect more with the other person. Here are good questions to ask to keep a conversation going.

Range by David Epstein: Review, Context, & Approach

Are you thinking of reading Range by David Epstein? Is the book really worth all the hype? David Epstein is a former writer for Sports Illustrated who has built his career writing about the science behind athleticism. In Range, Epstein makes the case for generalism: a broad competence in many areas rather than the extreme mastery of one. Not only does cultivating range free you to pursue more of your interests, it entails professional advantages you could have never predicted. Here is our review of Range by David Epstein.

Managing Cross-Cultural Teams: Strategies and Tips

Do you manage a team made up of people from different cultures? How do you deal with cultural differences between team members? If you are a manager of a team represented by people from different cultures, it’s important to anticipate potential clashes that could happen between team members due to cultural differences. In her book The Culture Map, Erin Meyer presents several strategies managers can use when their teams need to work with different cultures or consist of people from different cultures. In this article, we’ll present the key strategies Meyer recommends when creating and managing cross-cultural teams.