Cutting Your Losses: How to Avoid the Sunk Cost Trap

“If at first you don’t succeed, give up,” is the road less traveled for leaders who continue to spend money on an acquisition they made – even though the acquisition is clearly not working out. But why, as this author asks, don’t we actually strive to create an organizational climate that makes admitting and learning from mistakes as valued as persistence and perseverance? Below, he … [ Read more ]

Why Making the Decisions the Right Way is More Important Than Making The Right Decisions

Many managers disdain “process” – organizations that put a premium on “the way things have always been done around here” over those that champion bold and rapid decision making. Ironically, as this author states, making the right decision is less important than focusing on how the decision is made – the process. In a compelling argument he makes the case that examining how decisions are … [ Read more ]

Making Difficult Decisions in Turbulent Times

This article discusses seven strategies that, carefully applied, will enable managers to make tough decisions in turbulent times.

Deciding How to Decide

Good decisions arise from constructive conflict. Here’s how to use debate to build a sound decision-making structure. Excerpted from Why Great Leaders Don’t Take Yes for an Answer.

High-Stakes Decision Making: The Lessons of Mount Everest

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

What You Don’t Know About Making Decisions

As you weigh the options for your company’s next step, how do you decide which way to turn? HBS professors David A. Garvin and Michael A. Roberto offer some tips in this excerpt from Harvard Business Review.