Working Knowledge

What You Don't Know About Making Decisions

Research & Ideas - October 15, 2001

Published:	October 15, 2001
Authors:	David A. Garvin and Michael A. Roberto

Unfortunately, superior decision making is distressingly difficult to assess in real time. Successful outcomes—decisions of high quality, made in a timely manner and implemented effectively—can be evaluated only after the fact. But by the time the results are in, it's normally too late to take corrective action. Is there any way to find out earlier whether you're on the right track?

There is indeed. The trick, we believe, is to periodically assess the decision-making process, even as it is under way. Scholars now have considerable evidence showing that a small set of process traits is closely linked with superior outcomes. While they are no guarantee of success, their combined presence sharply improves the odds that you'll make a good decision. More Working Knowledge from David Garvin. More Working Knowledge from Michael Roberto

David Garvin is the C. Roland Christensen Professor of Business Administration at Harvard Business School.

Michael A. Roberto

Four Questions for David Garvin and Michael Roberto: Q&A with David Garvin; Research & Ideas - October 15, 2001 More Working Knowledge from David Garvin. More Working Knowledge from Michael Roberto

Disruption: The Art of Framing: Research & Ideas - June 10, 2002

Published:	June 10, 2002
Authors:	Clark Gilbert and Joseph L. Bower

Editor's Note: When we perceive a competitor's groundbreaking innovation as a threat, we may act defensively and hastily. But if we see that same event as an opportunity, our response might be more deliberate and unhurried. As a leader, how you frame that challenge inside your organization controls how resources are allocated to respond. The dilemma: Create a response that is neither overreaction (threat) nor insufficient (opportunity).

In this excerpt from their Harvard Business Review article, Harvard Business School professors Clark Gilbert and Joseph L. Bower say that the leader must frame the competitor's action as both a threat and an opportunity. Here are organizational and process changes that can help meet the challenge. More Working Knowledge from Joseph Bower. More Working Knowledge from Clark Gilbert

Joseph Bower is the Donald K. David Professor of Business Administration at Harvard Business School.

Clark Gilbert

Reinventing the Industrial Giant: Research & Ideas - June 10, 2002

Published:	June 10, 2002
Authors:	Nitin Nohria, Davis Dyer, and Frederick Dalzell

It's not easy to transform a trusty but ailing old stalwart. In an excerpt from their book, Changing Fortunes: Remaking the Industrial Corporation, HBS professor Nitin Nohria and co-authors Davis Dyer and Frederick Dalzell discuss how General Motors and Kodak are attempting precisely that. More Working Knowledge from Nitin Nohria

HBS Faculty Member Nitin Nohria Nitin Nohria is the Richard P. Chapman Professor of Business Administration at Harvard Business School.

High-Stakes Decision Making: The Lessons of Mount Everest: Research & Ideas - August 26, 2002

Published:	August 26, 2002
Author:	Michael A. Roberto

On May 10, 1996, five mountaineers from two teams perished while climbing Mount Everest. Is there anything business leaders can learn from the tragedy? HBS professor Michael A. Roberto used the tools of management to find out. Plus: Q&A with Michael Roberto. More Working Knowledge from Michael Roberto

Are Business Schools Really Important "Crucibles of Leadership?": What Do YOU Think? - September 30, 2002 More Working Knowledge from James Heskett

HBS Faculty Member James Heskett James Heskett is a Baker Foundation Professor at Harvard Business School.

Your Crisis Response Plan: The Ten Effective Elements: Research & Ideas - September 30, 2002

Published:	September 30, 2002
Author:	Michael Watkins

Shooter on site. Epidemic. Major power outage. Is your organization prepared to deal with crisis? HBS professor Michael Watkins explains what you need to know, and offers a checklist to evaluate your preparedness. More Working Knowledge from Michael Watkins

HBS Faculty Member Michael Watkins

The Parable of the Bungled Baggage And the Unhappy Customer: Research & Ideas - October 21, 2002

Published:	October 21, 2002
Author:	W. Earl Sasser

Sometimes a seemingly harmless corporate decision such as a budget trim can lead to big problems elsewhere. HBS professor W. Earl Sasser tells what happens when budget constraints and customers collide. More Working Knowledge from W. Earl Sasser

HBS Faculty Member W. Earl Sasser W. Earl Sasser is the UPS Foundation Professor of Service Management at Harvard Business School.

Can Business Schools Teach the Craft of Getting Things Done?: What Do YOU Think? - February 3, 2003

Published:	February 3, 2003
Author:	James Heskett

No one doubts business schools are expert at teaching management theory. But what about teaching real-world basics? In short, can students be taught execution? More Working Knowledge from James Heskett

Three Steps for Crisis Prevention: Research & Ideas - April 7, 2003

Published:	April 7, 2003
Authors:	Michael D. Watkins and Max H. Bazerman

Can you predict a business disaster? In this Harvard Business Review excerpt, professors Michael D. Watkins and Max H. Bazerman outline the keys for disaster prevention: recognition, prioritization, and mobilization. More Working Knowledge from Michael Watkins. More Working Knowledge from Max Bazerman

HBS Faculty Member Max Bazerman Max Bazerman is the Jesse Isidor Straus Professor of Business Administration at Harvard Business School.

Stuck in Gear: Why Managers Don't Act: Research & Ideas - June 2, 2003

Published:	June 2, 2003
Author:	Martha Lagace

Most top executives are smart and far sighted, so why can't they change gears fast enough to meet change? Professor Donald N. Sull provides answers in a new book. More Working Knowledge from Donald Sull

HBS Faculty Member Donald Sull

What Can Aspiring Leaders Be Taught?: What Do YOU Think? - June 2, 2003

Published:	June 2, 2003
Author:	James Heskett

Let’s say you are left in charge of an MBA program. How would you and your students sort through the tensions in corporate life vis-à-vis society, employees, and investors? How would you build those learnings into your program and make them stick? More Working Knowledge from James Heskett

The New Global Business Manager: Q&A with Christopher Bartlett; Research & Ideas - December 15, 2003

Q&A with:	Christopher Bartlett
Published:	December 15, 2003
Author:	Cynthia Churchwell

What are the critical skills global managers need today compared to ten years ago? An interview with Harvard Business School professor Christopher A. Bartlett. More Working Knowledge from Christopher Bartlett

HBS Faculty Member Christopher Bartlett Christopher Bartlett is the Thomas D. Casserly, Jr. Professor of Business Administration, Emeritus, at Harvard Business School.

Do We Listen to Advice Just Because We Paid for It? The Impact of Cost of Advice on Its Use: Working Papers - September 2004, revised February 2006

People make decisions every day by weighing their own opinions with advice from other sources. But do we know whether people use advice in a way that is helpful to them? In two experiments performed under controlled, laboratory conditions, Gino found that all else being equal, people weigh advice differently according to the amount of money they pay for it. Also, the cost of advice affects the degree to which people use it. Key concepts include:

Decision makers may rely on costly advice more heavily than free advice.
The cost of advice did not affect the value gained by following the advice.
Cost-of-advice research results might interest the consulting and medical professions.
We need to better understand decision makers' sensitivity to the cost they pay to gain advice.

More Working Knowledge from Francesca Gino

HBS Faculty Member Francesca Gino

Planning for Surprises: Q&A with Max Bazerman; Research & Ideas - October 25, 2004

Q&A with:	Max Bazerman
Published:	October 25, 2004
Author:	Martha Lagace

A company doesn't need a crystal ball to see impending disasters. Harvard Business School professor Max H. Bazerman and INSEAD professor Michael D. Watkins explain how to foresee and avoid predictable surprises. More Working Knowledge from Max Bazerman

Don't Listen to "Yes": Q&A with Michael Roberto; Research & Ideas - June 6, 2005

Q&A with:	Michael Roberto
Published:	June 6, 2005
Author:	Martha Lagace

It's essential for leaders to spark conflict in their organizations, as long as it is constructive. A Q&A with Professor Michael Roberto, author of the new book Why Great Leaders Don't Take Yes for an Answer. More Working Knowledge from Michael Roberto

Asian and American Leadership Styles: How Are They Unique?: Research & Ideas - June 27, 2005

Published:	June 27, 2005
Author:	D. Quinn Mills

Business leadership is at the core of Asian economic development, says HBS professor D. Quinn Mills. As he explained recently in Kuala Lumpur, the American and Asian leadership styles, while very different, also share important similarities. More Working Knowledge from D. Quinn Mills

HBS Faculty Member D. Quinn Mills D. Quinn Mills is the Alfred J. Weatherhead Jr. Professor of Business Administration at Harvard Business School.


Balancing the Future Against Today's Needs: Research & Ideas - August 22, 2005

Published:	August 22, 2005
Author:	Paul Michelman

It's hard to dream five years out when your organization is doing all it can to take care of the here and now. This article from Harvard Management Update offers a new lens for positioning growth efforts within your company while staying focused on your core strengths today. More Working Knowledge from Michael Tushman

Michael Tushman is the Paul R. Lawrence Class of 1942 Professor of Business Administration at Harvard Business School.

Effects of Task Difficulty on Use of Advice

Published: October 2005, revised February 2006

Authors: Francesca Gino and Don A. Moore

We make most of our choices by weighing other people's advice counter to our own opinions. People generally underweight advice from others, though the practice is not universal. In two studies, it is determined that people overweight advice on difficult tasks but underweight it on the easy ones. Key concepts include:

Understand built-in biases when weighing advice, especially on difficult tasks. Don't automatically give more credence to the opinions of advisers or consultants over your own experience.

More Working Knowledge from Francesca Gino

The Truck Driver Who Reinvented Shipping

Research & Ideas - October 3, 2005

Published: October 3, 2005

Authors: Anthony J. Mayo and Nitin Nohria

Malcolm P. McLean (1914-2001) hit on an idea to dramatically reduce labor and dock servicing time. An excerpt from In Their Time: The Greatest Business Leaders of the Twentieth Century by Harvard Business School's Anthony J. Mayo and Nitin Nohria. More Working Knowledge from Nitin Nohria

Looking Behind Bad Decisions

Q&A with Max Bazerman

Research & Ideas - January 30, 2006

Q&A with: Max Bazerman

Published: January 30, 2006

Author: Manda Salls

In a recent HBS Working Paper, HBS professor Max Bazerman and colleagues explore how biases and human psychology impede policy-making efforts that could vastly improve people's lives. More Working Knowledge from Max Bazerman

Why CEOs Are Not Plug-and-Play

Authors: Boris Groysberg, Andrew N. McLean, and Nitin Nohria

Published: May 29, 2006

Feature: Research & Ideas

Company-specific skills may be valuable in a new job under the right conditions, say Harvard Business School's Boris Groysberg, Andrew N. McLean, and Nitin Nohria. They studied GE; here's an excerpt from Harvard Business Review.

When Not to Trust Your Gut

Authors: Max H. Bazerman and Deepak Malhotra

Published: July 31, 2006

Feature: Research & Ideas

Most of us trust our intuition more than we should, especially when the pressure is on in negotiations. Professors Max Bazerman and Deepak Malhotra on negotiating more rationally. From Negotiation. More Working Knowledge from Deepak Malhotra

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From Harvard Business School

Leadership & Management

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Why CEOs Are Not Plug-and-Play

When Not to Trust Your Gut