Decision-making Reviews?

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Decision-making Reviews?
Jerome Groopman says it's about time that managers make themselves more vulnerable by organizing formal decision-making reviews when a poor decision has been made, or when a particularly important decision will have to be made. There is no reason to be scared, since Tversky and Kahneman have demonstrated that there are many shortcuts in human thinking due to Cognitive Biases such as anchoring errors, availability errors and attribution errors. By making themselves more vulnerable, in medicine, senior doctors have begun to encourage those further down in the hierarchy to question decisions more freely, to think more broadly and to challenge their leaders on important decisions. Senior Managers should be open for the same. (source: HBR Feb 2008, p 19-20).

Forget it!
I doubt if this going to work for most firms. Most top managers are too proud, heroic or even arrogant to organise criticism on their decisions, although I can see there might be benefits for their firms and themselves.

Decision Making
S Ramanathan
Decision making is a complex process. It calls for a judicious selection of one of the several alternative courses of action by applying an appropriate management accounting technique.

Try to Use 6 Thinking Hats for Decision Making
Mark Song, Member
When we are doing the decision making procedure, we would prefer to use the 6 thinking hats tool for finalizing the best choice. It will involve pessimism and optimism. Also innovative solution and facts will be reviewed many times.


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