This book describes the Taurus project--a 500m project to automate settlement systems on the London Stock Exchange. Begun in 1986, it was eventually abandoned in 1993. How was it that a major project promoted by the Stock Exchange, supervised by committees, advised upon by two major consultancies, staffed by an experienced technical team, could go wrong? Why was the decision to abandon the project not taken earlier? Written in the context of theories of decision-making, the book both tells an absorbing story and adds to our understanding of decision escalation. "
This book describes the Taurus project--a 500m project to automate settlement systems on the London Stock Exchange. Begun in 1986, it was eventually a...
Drummond combines managerialist, interpretive and critical perspectives to provide a clear and detailed guide for students new to the subject. Her lucid writing style, practical learning aids and suggestions for further reading make this a notably student-friendly text.
Drummond combines managerialist, interpretive and critical perspectives to provide a clear and detailed guide for students new to the subject. Her luc...
Science reassures, art disturbs (Proverb) This intriguing exploration of underlying forces in decision making takes as its starting point a wealth of high profile decision disasters. In brilliantly readable analyses, Helga Drummond shows how better awareness of the inherent uncertainties of the decision making process could have made the outcomes very different. Examples showcased include: The Hatfield rail crash The Kursk submarine disaster The Challenger disaster The year 2000 fuel crisis The WWII Dardanelles expedition The Barings Bank...
Science reassures, art disturbs (Proverb) This intriguing exploration of underlying forces in decision making takes as its starting point a weal...
The collapse of Barings' Bank was a commercial catastrophe that resonated worldwide, showing what kind of secrets can lie behind an apparently successful organization. Following Nick Leeson's arrest and subsequent conviction for fraud, investment banks anxiously reviewed their risk management controls to make sure that it could never happen again.
Helga Drummond's exploration is conducted against a backdrop of social and psychological theories of decision error that seeks to go beyond media style accusations of greed and incompetence. She challenges the myth that Barings 'must have...
The collapse of Barings' Bank was a commercial catastrophe that resonated worldwide, showing what kind of secrets can lie behind an apparently succ...
When a venture seems to be faltering, do you persist and hope that things will get better or do you cut your losses? This may be one of the most important decisions business or project owners may ever have to make. Persistence involves the risk of throwing good money (or resources) after bad, but owners may feel they have too much invested to quit now. Escalation in Decision-Making reveals why social scientists believe that owners may not respond rationally to such predicaments. Instead of exiting when the odds are clearly stacked against them, they re-invest and end up compounding their...
When a venture seems to be faltering, do you persist and hope that things will get better or do you cut your losses? This may be one of the most impor...
International in its appeal, this book uses high-level and multi-theoretical analyses involving psychological and sociological theories to explore the events of Nick Leeson's employment with Barings in Singapore in 1992 to Barings' collapse in 1995.
International in its appeal, this book uses high-level and multi-theoretical analyses involving psychological and sociological theories to explore the...
