Ep9 "When is a Business Decision a Mistake?" with Hadley Mullin
07/12/22 • 22 min
As leaders, how do we know when we've made a mistake? Is it as simple as evaluating whether the outcome was good or bad? In this episode of All Else Equal: Making better decisions, hosts and finance professors Jonathan Berk and Jules van Binsbergen discuss how risk/reward calculations can help define what is a mistake and what isn't.
To talk more in depth about this topic, and how owning up to a mistake plays out inside an investment firm, the hosts interview Hadley Mullin. Mullin is a senior partner at TSG Consumer Partners, a private equity firm with approximately $10 billion in assets under management. At her firm, decisions are made collectively – and accountability is shared. "It's not a blame game," Mullin says. "Not focusing on whose deal this is, but referring to it as 'our deal,' makes us better positioned to do an unbiased postmortem."
Submit your questions to the show here: https://bit.ly/AllElseEqual
Find All Else Equal on the web: https://www.gsb.stanford.edu/business-podcasts/all-else-equal-making-better-decisions
All Else Equal: Making Better Decisions Podcast is a production of Stanford Graduate School of Business and is produced by University FM.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
As leaders, how do we know when we've made a mistake? Is it as simple as evaluating whether the outcome was good or bad? In this episode of All Else Equal: Making better decisions, hosts and finance professors Jonathan Berk and Jules van Binsbergen discuss how risk/reward calculations can help define what is a mistake and what isn't.
To talk more in depth about this topic, and how owning up to a mistake plays out inside an investment firm, the hosts interview Hadley Mullin. Mullin is a senior partner at TSG Consumer Partners, a private equity firm with approximately $10 billion in assets under management. At her firm, decisions are made collectively – and accountability is shared. "It's not a blame game," Mullin says. "Not focusing on whose deal this is, but referring to it as 'our deal,' makes us better positioned to do an unbiased postmortem."
Submit your questions to the show here: https://bit.ly/AllElseEqual
Find All Else Equal on the web: https://www.gsb.stanford.edu/business-podcasts/all-else-equal-making-better-decisions
All Else Equal: Making Better Decisions Podcast is a production of Stanford Graduate School of Business and is produced by University FM.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Previous Episode
Ep8 "Why Capitalism Works" with John Cochrane
Competitive markets don’t produce the same level of prosperity for everyone, but economist John Cochrane thinks they give us something more important — incentives.
In this episode of All Else Equal: Making Better Decisions, hosts Jules van Binsbergen and Jonathan Berk are joined by John Cochrane, a prominent free-market economist and a senior fellow at the Hoover Institution at Stanford University.
According to Cochrane, competition gives us the incentives to work, serve the needs of others, and innovate. A system with incentives, he says, “is the only one where we all don't end up worse.”
Submit your questions to the show here: https://bit.ly/AllElseEqual
Find All Else Equal on the web: https://www.gsb.stanford.edu/business-podcasts/all-else-equal-making-better-decisions
All Else Equal: Making Better Decisions Podcast is a production of Stanford Graduate School of Business and is produced by University FM.
More About the Guest:
John Cochrane at the Hoover Institute
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Next Episode
Special Episode: What’s Wrong with Buybacks?
Are buybacks bad for business? Should firms buy dividends instead, or just not make payouts?
In this episode of All Else Equal: Making Better Decisions, hosts and finance professors
Jonathan Berk and Jules van Binsbergen debunk myths about buybacks. They explain what a
buyback, or share repurchase, is and why companies choose to use them, as well as the
implications of the Inflation Reduction Act’s proposal to assess a 1% tax on buybacks.
All Else Equal: Making Better Decisions is a podcast produced by Stanford Graduate School of
Business. It is hosted by Jonathan Berk, The A.P. Giannini Professor of Finance at Stanford
GSB, and Jules van Binsbergen, The Nippon Life Professor in Finance, Professor of Finance, at
The Wharton School. Each episode provides insight into how to make better decisions.
Submit your questions to the show here: https://bit.ly/AllElseEqual
Find All Else Equal on the web: https://www.gsb.stanford.edu/business-podcasts/all-else-equal-making-better-decisions
All Else Equal: Making Better Decisions Podcast is a production of Stanford Graduate School of Business and is produced by University FM.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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