How many decisions do you think you will make during your career life?
Of course, that question is impossible to answer correctly because no two people or careers are alike, but I bet your logical left brain is having a hay day with that question right now.
Today’s blog goes out in remembrance of the American Mathematician, John Nash, the only person to share receiving both the Nobel Prize and the Abel Prize only 6 days ago in Oslo from the King of Norway. John and his wife Alicia were killed together two days ago in a car accident. Russell Crowe played the role of John Nash in one of my favorite movies “It’s a Beautiful Mind.” I am intrigued by one of the things Nash was famous for – his research into Game Theory. Invented by John von Neumann, Game Theory is the study of strategic decision making. Because I have two upcoming Group Coaching Events in Colorado, USA that each includes 3hrs of Decision Making coaching, the tragedy ending of John Nash and his wife weighs heavy in my heart. Thank you, John Nash, for the incredible mathematical contributions you gave to humanity.
Game Theory combines mathematics, psychology, and philosophy together to enhance a person’s ability to reason and make decisions in our complex world. One Game Theory example is Prisoner’s Dilemma a cooperation strategy about two prisoners that end up worse off by not communicating nor cooperating with each other. There are several Game Theory models in career business and personal relationships where the payoff between two parties can be applied. Examples range from siblings cooperating to not tell on each other rather than being punished by parents all the way to competing businesses agreeing on the price range of like products and the payoffs involved. In career, the Prisoner’s Dilemma strategy could be applied in the area of the payoffs between you and your direct supervisors, or you and your employees for the cooperation of expectations in positions and work exchange.
Enough for now about Game Theory, I will end this blog with one fun strategic thinking question for decision making in a career.
If your career somehow involves the payment from tips, what amount of money should you keep visible to attract your maximum charity payoff?