The uncertainty and complexity of most business environments make successful management of a difficult art. Manage often bright, experienced, well-trained people in their company’s strategic distress. Many of these poor results are not just a matter of bad luck. This note deals with problems of cognitive biases and heuristics (ways of thinking about problems) that managers frequently use in the analysis strategy under uncertainty caused. Indicates where these problems are likely to arise in strategy are … Read more »

The uncertainty and complexity of most business environments make successful management of a difficult art. Manage often bright, experienced, well-trained people in their company’s strategic distress. Many of these poor results are not just a matter of bad luck. This note deals with problems of cognitive biases and heuristics (ways of thinking about problems) that managers frequently use in the analysis strategy under uncertainty caused. Indicates where these problems are likely to arise in strategy analysis and discusses five practices help to mitigate the prejudice.
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Elizabeth Olmsted Teisberg
9 sides.
Release date: 05 March, 1991. Prod #: 391172-PDF-ENG
Why choose good managers Poor strategies? HBR case solution