Improving the value of decisions through behavioural strategy

Improving decision value through behavioural strategy

Below is a link to a summary on an article written by Dan Lovallo and published in the McKinsey Quarterly earlier this year. The document discusses the impact of biases on strategic decisions and goes so far as to calculate the improved return on investment of a decision if the decision process is improved – a not unsubstantial 6,9 percentage points.

The article also offers some ideas as to how to counteract these biases – albeit a little simplistically and linearly in our humble opinion. But the summary and the article are well worth a read if you wish to improve your own strategic decision-making process.

Improve decision value through behavioural strategy

Challenges faced when taking strategic decisions: latest research

“Challenges faced when taking strategic decisions”.
Executive summary of global survey

“A critical factor in the success – and often survival – of any organisation lies in its ability to make effective strategic decisions. This skill is of increasing significance in today’s world, where the nature of these decisions is becoming more complex – as currently seen in the turmoil being experienced by the global economy.”

Below is a link to the Executive Summary of the results of our global survey into this topic. We hope you find the results both interesting and useful.

A copy of the full report will also be available on request.

Genesis Decision Survey Executive Summary December 2010