How to Stop Making Decisions That Waste Time and Money


Here is another valuable Management Tip of the Day from Harvard Business Review. To sign up for a free subscription to any/all HBR newsletters, please click here.

Many managers rely on gut instinct to make important decisions, which often leads to poor results. On the contrary, when managers insist on incorporating logic and evidence, they make better choices and their companies benefit.

Here are three ways to introduce evidence-based management at your company:

1. Demand evidence. Whenever anyone makes a compelling claim, ask for supporting data. Don’t take someone’s word for it.

2. Examine logic. Look closely at the evidence and be sure the logic holds up. Be on the lookout for faulty cause-and-effect reasoning.

3. Encourage experimentation. If you don’t have evidence, create some. Invite managers to conduct small experiments to test the viability of proposed strategies and use the resulting data to guide decisions.

Today’s Management Tip was adapted from Harvard Business Review on Making Smart Decisions.

To check out the book and join the discussion, please click here.


Posted in

Leave a Comment





This site uses Akismet to reduce spam. Learn how your comment data is processed.