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	<title>Talking about strategy &#187; decision-making</title>
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	<link>http://kimwarren.com</link>
	<description>with Kim Warren</description>
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		<title>Evidence-based decision-making</title>
		<link>http://kimwarren.com/strategy/evidence-based-decision-making/</link>
		<comments>http://kimwarren.com/strategy/evidence-based-decision-making/#comments</comments>
		<pubDate>Mon, 16 Aug 2010 14:10:16 +0000</pubDate>
		<dc:creator>Kim Warren</dc:creator>
				<category><![CDATA[Strategy]]></category>
		<category><![CDATA[decision-making]]></category>
		<category><![CDATA[evidence-based management]]></category>
		<category><![CDATA[Sloan Mgmt Review]]></category>
		<category><![CDATA[strategic decisions]]></category>

		<guid isPermaLink="false">http://www.kimwarren.com/?p=1172</guid>
		<description><![CDATA[We all know this ideal is far from reality, but inÂ Is Decision-Based Evidence Making Necessarily Bad?, Sloan Mgmt Review offers 3 levels to define the role of evidence:Â  to make a decision &#8211; when data really does lead to a decision to inform a decision &#8211; when other factors such as judgment and bargaining play <a href='http://kimwarren.com/strategy/evidence-based-decision-making/'>[...]</a>]]></description>
			<content:encoded><![CDATA[<p>We all know this ideal is far from reality, but inÂ <a href="http://sloanreview.mit.edu/the-magazine/articles/2010/summer/51419/is-decision-based-evidence-making-necessarily-bad/?utm_source=Publicaster&amp;utm_medium=email&amp;utm_campaign=Jun%2030%20enews&amp;utm_term=The+myth+of+fact-based+decisions" target="_blank"><em>Is Decision-Based Evidence Making Necessarily Bad</em>?</a>, Sloan Mgmt Review offers 3 levels to define the role of evidence:<span id="more-1172"></span>Â </p>
<ul>
<li>to <em>make</em> a decision &#8211; when data really does lead to a decision</li>
<li>to <em>inform</em> a decision &#8211; when other factors such as judgment and bargaining play a role too</li>
<li>to <em>support</em> a decision &#8211; when data is looked for that confirms the decision, and crucially, when disconfirming evidence is avoided or rejected.</li>
</ul>
<p>They make a case that such &#8216;decision-based evidence-making&#8217; (!) is not necessarily bad, but seem instead to make a case for the middle categoryÂ - using what useful evidence can be had, plus judgment &#8211; and offer tips:</p>
<ol>
<li>Assess how muchÂ potential there is for evidence to support a certainÂ decision.</li>
<li>Weigh the costs, benefits and risks ofÂ seeking and using evidence.</li>
<li>Differentiate between internal and external audiences in the use of evidence.</li>
<li>Make sure evidence gathered at cost and effort is reflected in decisions (assuming you looked for the <em>right</em> evidence, I guess).</li>
</ol>
<p>Good tips &#8211; and I wonder howÂ often we genuinely step back and think about these issues, rather than just get on with it?</p>
<p><a href="http://www.strategydynamics.com/info/what-is-strategy-dynamics.aspx" target="_blank">www.strategydynamics.com</a></p>
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		</item>
		<item>
		<title>Facts on MBA relevance</title>
		<link>http://kimwarren.com/strategy/facts-on-mba-relevance/</link>
		<comments>http://kimwarren.com/strategy/facts-on-mba-relevance/#comments</comments>
		<pubDate>Sat, 11 Jul 2009 14:33:15 +0000</pubDate>
		<dc:creator>Kim Warren</dc:creator>
				<category><![CDATA[Strategy]]></category>
		<category><![CDATA[decision-making]]></category>
		<category><![CDATA[managerial competencies]]></category>
		<category><![CDATA[managerial relevance]]></category>
		<category><![CDATA[MBA courses]]></category>
		<category><![CDATA[strategic management]]></category>

		<guid isPermaLink="false">http://www.kimwarren.com/?p=700</guid>
		<description><![CDATA[Strategy and decision-making simply get too little attention, according to latest solid evidence on this topic,Â in an academic paper too.Â How Relevant Is the MBA?Â [details below] took the simple but powerful approach of comparing the content-mix of 373 MBA programs with the managerial requirements specified in companies&#8217; competency models. Over-weighted and under-weighted content were &#8230; Too <a href='http://kimwarren.com/strategy/facts-on-mba-relevance/'>[...]</a>]]></description>
			<content:encoded><![CDATA[<p>Strategy and decision-making simply get too little attention, according to latest solid evidence on this topic,Â in an academic paper too.Â <a href="http://aom.metapress.com/app/home/contribution.asp?referrer=parent&amp;backto=issue,5,16;journal,1,6;linkingpublicationresults,1:109449,1" target="_blank">How Relevant Is the MBA?</a>Â [details below] took the simple but powerful approach of comparing the content-mix of 373 MBA programs with the managerial requirements specified in companies&#8217; competency models. Over-weighted and under-weighted content were &#8230; <span id="more-700"></span></p>
<p>Too much:</p>
<ul>
<li>logistics and technology</li>
<li>managing the task environment</li>
<li>administration and control [nearly 2* too much]</li>
</ul>
<p>Too little:</p>
<ul>
<li>managing people</li>
<li>decision-making [barely 1/2 the required emphasis]</li>
<li>strategy and innovation [barely 1/2 the required emphasis]Â </li>
</ul>
<p>&#8230; and that&#8217;s without saying anything about whether the content provided on these two critical competencies is any good.</p>
<p>The Academy of Management Learning and Education (AMLE)Â<br />
Â Â  Issue:Â Â  Volume 8, Number 2 / June 2009Â<br />
Â Â  Pages:Â Â  208 &#8211; 224Â </p>
<p>How Relevant Is the MBA? Assessing the Alignment of Required Curricula and Required Managerial Competencies<br />
Robert S. Rubin and Erich C. Dierdorff</p>
<p>Abstract:</p>
<p>Masters of business administration (MBA) programs are being met with escalating criticism from academics, students, and various organizational stakeholders. Central to these criticisms is the contention that the MBA is wholly out-of-touch with the &#8220;real world&#8221; and is irrelevant to the needs of practicing managers. Examining this contention, we investigated the relevancy of MBA curricula in relation to managerial competency requirements. Relying on an empirically derived competency model from 8,633 incumbent managers across 52 managerial occupations, our results showed that behavioral competencies indicated by managers to be most critical are the very competencies least represented in required MBA curricula. Findings further indicate that institutional factors such as media rankings and mission orientation have no effect on the alignment of MBA curricula with critical managerial competencies.</p>
]]></content:encoded>
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		</item>
		<item>
		<title>How good leaders make bad decisions</title>
		<link>http://kimwarren.com/strategy/how-good-leaders-make-bad-decisions/</link>
		<comments>http://kimwarren.com/strategy/how-good-leaders-make-bad-decisions/#comments</comments>
		<pubDate>Wed, 28 Jan 2009 12:56:39 +0000</pubDate>
		<dc:creator>Kim Warren</dc:creator>
				<category><![CDATA[Strategy]]></category>
		<category><![CDATA[analysis]]></category>
		<category><![CDATA[Andrew Campbell]]></category>
		<category><![CDATA[Ashridge]]></category>
		<category><![CDATA[business benefits]]></category>
		<category><![CDATA[Dartmouth]]></category>
		<category><![CDATA[decision-making]]></category>
		<category><![CDATA[harvard business review]]></category>
		<category><![CDATA[HBR]]></category>
		<category><![CDATA[Jo Whitehead]]></category>
		<category><![CDATA[mckinsey]]></category>
		<category><![CDATA[neuroscience]]></category>
		<category><![CDATA[strategic decisions]]></category>
		<category><![CDATA[Sydney Finkelstein]]></category>

		<guid isPermaLink="false">http://www.kimwarren.com/?p=456</guid>
		<description><![CDATA[&#8230; and right after the McKinsey survey, HBR has an article by Andrew Campbell, Jo Whitehead (Ashridge) and Sydney Finkelstein (Dartmouth) on neuroscience revelations about how leaders&#8217; judgment gets distorted. It seems we have systematic biases, then land on initial conclusions we are reluctant to change, and the article offers a &#8216;red flag&#8217; process for <a href='http://kimwarren.com/strategy/how-good-leaders-make-bad-decisions/'>[...]</a>]]></description>
			<content:encoded><![CDATA[<p>&#8230; and right after the McKinsey survey, HBR has an article by <a href="http://www.ashridge.org.uk/Website/Content.nsf/WebContent?ReadForm&amp;Zone=FAR&amp;SpecialTemplate=LongBioNote&amp;Name=Andrew+Campbell" target="_blank">Andrew Campbell</a>, <a href="http://www.ashridge.org.uk/Website/Content.nsf/WebContent?ReadForm&amp;Zone=FARBIO&amp;SpecialTemplate=LongBioNote&amp;Name=Jo%20Whitehead" target="_blank">Jo Whitehead</a> (<a href="http://www.ashridge.org.uk/" target="_blank">Ashridge</a>) and <a href="http://oracle-www.dartmouth.edu/dart/groucho/tuck_faculty_and_research.faculty_profile?p_id=ZZ21AL" target="_blank">Sydney Finkelstein</a> (Dartmouth) on neuroscience revelations about <a href="http://hbr.harvardbusiness.org/2009/02/why-good-leaders-make-bad-decisions/ar/1" target="_blank">how leaders&#8217; judgment gets distorted</a>. It seems we have systematic biases, then land on initial conclusions we are reluctant to change, and the article offers a &#8216;red flag&#8217; process for guarding against the dangers.</p>
]]></content:encoded>
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		</item>
		<item>
		<title>How companies make good decisions</title>
		<link>http://kimwarren.com/strategy/how-companies-make-good-decisions/</link>
		<comments>http://kimwarren.com/strategy/how-companies-make-good-decisions/#comments</comments>
		<pubDate>Tue, 27 Jan 2009 12:56:25 +0000</pubDate>
		<dc:creator>Kim Warren</dc:creator>
				<category><![CDATA[Strategy]]></category>
		<category><![CDATA[analysis]]></category>
		<category><![CDATA[business benefits]]></category>
		<category><![CDATA[decision-making]]></category>
		<category><![CDATA[evidence-based management]]></category>
		<category><![CDATA[mckinsey]]></category>
		<category><![CDATA[strategic decisions]]></category>

		<guid isPermaLink="false">http://www.kimwarren.com/?p=451</guid>
		<description><![CDATA[McKinsey asked senior managers in companies that made good and bad decisions about their decision-making processes: who was involved, what drove the decisions, the analysis done, role of politics etc. Good to hear that hard benefits &#8211; like profits! â€“ featured in successful decision-making disciplines. Article. More support for evidence-based management I guess.]]></description>
			<content:encoded><![CDATA[<p>McKinsey asked senior managers in companies that made good and bad decisions about their decision-making processes: who was involved, what drove the decisions, the analysis done, role of politics etc. Good to hear that hard benefits &#8211; like profits! â€“ featured in successful decision-making disciplines. <a href="http://e.mckinseyquarterly.com/W0RT000D255C9301F2E302E094B340 " target="_blank">Article</a>. More support for evidence-based management I guess.</p>
]]></content:encoded>
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