Humble Decision Making ^ 89406 (2024)

Old methods of decision making, such as incrementalism and "rational" decision making don't meet the needs of a world with too much information and too little time. A new model allows one to make decisions with partial information and to adapt to new information as it becomes available. Adaptive or "humble" decision making involves two sets of judgments: broad, basic choices about an organization's goals and policies; and small, experimental decisions based on in-depth examination of a focused subset of facts and choices. Managers can use humble decision making to increase the flexibility and adaptability of their decisions.

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Pages: 5

Related Topics: Corporate strategy, Management skills,