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Wonderful decisions

García-Castro, Roberto ; Ariño, Miguel Angel

Decision Analysis, Leadership and People Management, Strategy

Reference: ART-3342-E
Number of pages: 7
Publication Date: Dec 1, 2019
Source: IESE (España)
Type of Document: Article

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Description

One of the hardest things for companies to do is to make good, sound decisions on a consistent, long-term basis. To make wonderful decisions, companies need to strike the right balance between effectiveness, attractiveness and unity, and then hone their strategic, executive and leadership abilities. These diagnostic tools may help.

Keywords

20% time 9/11 attractiveness blind spot cognitive bias Competitive advantage Competitive Strategy Decision-making Effectiveness Executive ability GE General electric Google Heuristics interpersonal bias intertemporal bias Jack Welch Lea Cassar leadership ability mental shortcut prosocial mission SAS Institute September 11 Southwest Airlines Stakeholders strategic ability trade-off unity Wegmans Food Markets wonderful decisions