How's this for a plan?
3/18/2002
As former U.S. President Dwight D. Eisenhower once said—and as these authors now remind us—"Plans are nothing. Planning is everything." The point? The key to good results is a smart decision-making system. The authors, both consultants and researchers, draw on the rich literature of academic decision-making experiments to present important ideas in a way that is kind to business readers who don't want to be bombarded with footnotes, yet who need a better grasp on the best (and worst) ways to make up their minds. Russo and Schoemaker discuss proper framing of the problem, how to avoid bias, how to improve group decision making, and how to put it all to work. Short case studies on companies such as Shell Oil and Pepsi lend context.