Author Archives: Johannes.Siebert

Smart decisions make people really happy! Within the first nine months, 650 satisfied participants have already learned how to actively make them in our MCI MOOC “Smart Decisions” by Prof. Johannes Siebert. The MOOC is the best-rated course among over 100 courses on the iMooX platform and has a rating of 4.98 out of 5.00 stars. The core of the free MOOC consists of 8 interactive videos with a total length of just over 2.5 hours. In addition, more in-depth teaching materials, reflection exercises and quizzes are provided. Participants are also encouraged to work on their own running example(s). Prof. Siebert explains why many people make bad decisions and how they can avoid that. He presents some simple but effective methods based on recent developments in behavioral economics and decision sciences. The participants learn to make reflective and conscious decisions. Therefore, Prof. Siebert enables the participants to become their own…

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Fake news became a global phenomenon with the 2016 U.S. presidential election and the Brexit referendum, particularly because more and more people are using social media as a source of news without reflection. The spread of fake news on the Internet and its consequences are being intensively discussed in the European Parliament. Nevertheless, so far, there is no clear agreement on how to reduce the influence of fake news. „The problem with fake news is that even if it is flawlessly identified as such, something still „sticks“ – the fake news continues to influence our opinion”, explains Prof. Johannes Siebert, who researches and teaches at MCI | The Entrepreneurial School®. This phenomenon is called „belief perseverance bias“ and explains the great influence of fake news on the formation of opinion and the decision-making behavior of many people. „There are numerous newsrooms and nonprofit organizations that identify fake news. This very…

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Decision sciences are in general agreement on the theoretical relevance of decision training. From an empirical standpoint, however, only a few studies test its effectiveness or practical usefulness, and even less address the impact of decision training on the structuring of problems systematically. Yet that task is widely considered to be the most crucial in decision-making processes, and current research suggests that effectively structuring problems and generating alternatives—as epitomized by the concept of proactive decision making—increases satisfaction with the decision as well as life satisfaction more generally.

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The crucial research questions are how their proactivity in decision situations can characterize individuals, the eventual consequences of proactivity in decision situations, and how the degree of proactivity affects the satisfaction with one’s decisions. The scale on Proactive Decision Making (PDM) that has been theoretically developed from literature and empirically validated in cooperation with Prof. Reinhard Kunz (University of Cologne) allows describing the degree of proactivity of individuals with six dimensions. Two dimensions cover proactive personality traits: ‘striving for improvement’ and ‘showing initiative’. The four dimensions ‘systematical identification of objectives’, ‘systematical identification of information’, ‘systematical identification of alternatives’, and “using a ‘decision radar’ concern proactive cognitive skills and integrate the ideas and concepts of value-focused thinking and decision quality into the PDM-scale.

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People who make smart decisions in important private and professional matters increase their chances of greater life satisfaction. The cognitive skills required for this can be significantly honed through training. This is the conclusion reached by researchers at the University of Bayreuth in recent empirical studies published in the European Journal of Operational Research. Courses lasting several weeks with participants of different age and occupational groups demonstrably strengthened their ability to make well-considered choices in difficult decision-making situations.

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The first decision many young people make is “what do I do after school?” For the most part, different options are presented at best. Often, young people then choose one of the obvious alternatives or alternatives suggested by others without thinking more deeply about what they personally actually want and what their objectives are. For example, you often hear young people say, “My mother is a doctor, so I’m studying medicine,” or “My father is an entrepreneur. I’m studying business,” or even “My parents didn’t study. I should definitely not make the same mistake.” In principle, these decisions may seem “reasonable” from an objective point of view; in individual cases, however, it is urgently necessary to consider each individual’s interests, wishes, and prerequisites.

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The client was seeking a way to evaluate early development projects that would take an integrated view of the portfolio and enable consistent trade-offs. The solution was a multi-attribute prioritization methodology to enable holistic portfolio management and value-based decision making. The innovative methodology uses multi-attribute utility theory and value-focused thinking within the framework of decision quality, providing a consistent evaluation of various early-stage projects within a heterogeneous set of disease areas, thereby enabling trade-offs based on agreed-to decision criteria.

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Decisions are the only way we can actively influence what is important to us or our organization. Everything else ‘happens’. It is therefore surprising that decision-makers leave much potential for improvement untapped. In the September City Talk, numerous tips will be given on how we can systematically make better decisions and thus achieve what is important to us. About it speaks Prof. (FH) PD Dr. habil. Johannes Siebert from the Management Center Innsbruck.

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Fake news is false news stories packaged and published as if they were genuine with the intention to mislead the reader to damage an agency, an entity, or a person or to increase an internet click revenue. During the 2016 US presidential election campaign, fake news became a global phenomenon, in particular, due to the growing use of social media as a source for news. The proliferation of fake news online has been of increased concern to the European Parliament since. However, no agreement on how to tackle this issue has been reached.

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