Week 7 | Discussion 1: Decision-Making

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Making a Correct Diagnosis: Does Billionaire Warren Buffet, the World’s Third Richest Man, Invest Like a Girl?

Warren Buffett is the renowned billionaire investor known as the “Oracle of Omaha” who heads the financial juggernaut Berkshire Hathaway. His investment decisions are so successful that $1,000 invested with him in 1957 was worth $30 million in 2014. It seems that Buffett and female investors have something in common. Women trade less often than men, do a lot more research, and tend to base their investment decisions on considerations other than just numbers. Buffett’s style is similar. He uses basic arithmetic to analyze annual reports and other company financial documents, and takes pains to make a correct diagnosis before making a decision.

Read the Forbes article “How Decision-Making Is Different Between Men and Women and Why It Matters in Business (Links to an external site.).” The article features an interview with Therese Huston, author of the book “How Women Decide: What’s True, What’s Not, and What Strategies Spark the Best Choices.”

Watch the Harvard Business Review IdeaCast “Make Better Decisions (Links to an external site.).” In this audio interview, Therese Huston offers research-based tips for both men and women on how to make high quality, defensible decisions.

Answer

1. Describe how women might approach managerial decision making differently than men.
2. Describe a time you either experienced or saw a “dogsled problem” at work.
3. What can organizations do to avoid the “dogsled problem”?
4. How should decision-making advice for women be different than for men?

 

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