Managerial decision making

Decision making is one of the most important functions of management. Despite its importance and exhaustive study on the topic, we still struggle to make decisions effectively. In two STVP videos posted here, Janice Fraser of Adaptive Path explains how efficient decision making can be supported by giving the decision maker responsibility, accountability, and authority, and Dominic Orr of Aruba Networks describes how to cultivate a fast decision making process focused on facts and intellectual honesty. Finally, MIT behavioral economist Dan Ariely discusses how we are all victims of the "illusion of control" in decision making (click on the image above). Clearly, there is more researchers can do to help managers become better decision makers.