Why Do Good Managers Choose Poor Strategies?
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Publication Date:
March 05, 1991
Source:
Harvard Business School
The uncertainty and complexity of most business environments make successful management a difficult art. Frequently, bright, experienced, well-educated people manage their companies into strategic distress. Many of these bad results are not simply a matter of bad luck. This note discusses problems caused by cognitive biases and heuristics (ways of thinking about problems) that managers commonly use when analyzing strategy under uncertainty. Shows where these problems are likely to arise in strategy analysis and discusses five practices that help to mitigate the biases.
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Why Do Good Managers Choose Poor Strategies?
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