Decision Making

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Decision Making

Edited by

Devi Rajnikanth
IBS Case Development Centre

Icfai BooksTM # 71, Nagarjuna Hills, Punjagutta, Hyderabad – 500082 Andhra Pradesh, INDIA Phone: 91 - 40 - 23435387/91, Fax: 91 - 40 - 23435386 e-mail:, Website:,

© 2009 The Institute of Chartered Financial Analysts of India. All rights reserved.

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ISBN: 978-81-314-1571-9

Editorial Team: Ivaturi Murali Krishna and Deepa Verma Visualiser and Designer: P. Damodara Siva Prasad

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Contents Managerial Decision Making and Long-term Effectiveness 1–12

The Organisational Learning

Interview with Samuel E. Bodily

A Scientific Approach for Making Decisions
Don’t Leave it Up to Chance

The Eight Keys to Making Great Decisions
Conquer Crisis

Interview with David J. Snowden

Ethics, Biases and Strategic Decision Making
The Balancing Act

Interview with Bettina Büchel

The Conscious Manager
Zen for Decision Makers

The Anatomy of a Decision
The Customer Perspective

Interview with Colin Carnall

Diversification in Developed and Emerging Countries

How to Facilitate the Executive Decision

Interview with George Wright

Interview with David Teece

Interview with Derek W. Bunn

A Danish proverb says, “He who has a choice has trouble.” Every decision ever taken is borne out of choices. Successes as well as failures are the results of decisions. What then distinguishes success and failure? Good decisions and bad decisions. “Nothing is more difficult, and therefore more precious, than to be able to decide”, Napoleon said. After all, decisions are the essence of management. They’re what managers do – sitting around all day making (or avoiding) decisions. Managers are judged on the outcomes and most of them have only the foggiest idea how the workforce operates to meet their targets. Many books, reports, articles, etc., have been written on decision-making. Two that were really concise and insightful were Fortune’s 75th Anniversary special (June 27th 2005) on how to make great decisions and HBR’s January 2006 issue on decision making. In Fortune (June 27th 2005), Jim Collins made a lucid distinction between...
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