Evaluation in business essays?  Its just like going on a date...

Maybe Paul McKenna should park his recent focus on helping people using neuro-linguistic programming and turn his hand instead to being a business studies teacher?

In a recent interview on the Steve Wright Show (BBC Radio 2) McKenna explained the concept of evaluation, first making reference to some well known entrepreneurs and then using the example of being asked out on a date…

The background was a discussion about how counselling can help people build their confidence to make good decisions.

One issue was whether people could or should be encouraged to take more risks in order to improve the quality of their lives. Ever the name-dropper, McKenna explained that in his discussions with well known entrepreneurs such as Branson, Roddick and Green (Sir Philip), he had learned that successful business people don’t tend to gamble or take big risks. Instead, they evaluate the potential upsides and downsides in making an investment and then take calculated risks.

The same approach, he explained, can be used when deciding whether or not to accept a date. Should you go out with someone? The decision is all about evaluation:

- What might happen if you do?
- What are the potential upsides?
- What would the consequences be if something went wrong?
- Are there things that you can do to minimise the likelihood of that first date proving disappointing?
- What factors will the likely success or failure of the date depend on?
- Are you looking for a short-term or long-term romance?

McKenna explained that evaluating the decision involves assessing the potential upsides & downsides, addressing what factors might affect the potential success of the date. The decision might still be taken using a hunch rather than scientific decision-making, but the thought process is essentially the same.

Evaluation, said McKenna is all about looking at both sides of a choice and assessing whether the overall benefit is enough to go ahead.

Next, I’ll be asking the popular hypnotist to explain Ansoff’s Matrix and provide a foolproof way of calculating decisions trees…