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Related Concept Videos

Decision Making01:20

Decision Making

Decision-making is a fundamental cognitive process that involves evaluating alternatives and selecting among them. This process can range from simple choices, such as deciding what to wear, to complex decisions, like choosing a major in college or a career path. The complexity of the decision often dictates the approach we use, which can be broadly categorized into two types: automatic and controlled decision-making.
Automatic decision-making is fast, intuitive, and relies on gut feelings...
Decision Making: Traditional Method01:14

Decision Making: Traditional Method

The process of hypothesis testing based on the traditional method includes calculating the critical value, testing the value of the test statistic using the sample data, and interpreting these values.
First, a specific claim about the population parameter is decided based on the research question and is stated in a simple form. Further, an opposing statement to this claim is also stated. These statements can act as null and alternative hypotheses, out of which a null hypothesis would be a...
Decision Making: P-value Method01:09

Decision Making: P-value Method

The process of hypothesis testing based on the P-value method includes calculating the P- value using the sample data and interpreting it.
First, a specific claim about the population parameter is proposed. The claim is based on the research question and is stated in a simple form. Further, an opposing statement to the claim  is also stated. These statements can act as null and alternative hypotheses:  a null hypothesis would be a neutral statement while the alternative hypothesis can have a...
Reason and Intuition01:37

Reason and Intuition

The human brain processes information for decision-making using one of two routes: an intuitive system and a rational system (Epstein, 1994; popularized by Kahneman, 2011 as System 1 and System 2, respectively). The intuitive system is quick, impulsive, and operates with minimal effort, relying on emotions or habits to provide cues for what to do next, while the rational system is logical, analytical, deliberate, and methodical. Research in neuropsychology suggests that the brain can only use...
First Impression01:09

First Impression

First impressions play a crucial role in social perception, shaping how individuals assess others in professional, academic, and interpersonal contexts. Psychological research highlights the significance of cognitive biases, such as the primacy and recency effects, which influence how people interpret and recall information.The Primacy Effect and Cognitive AnchoringThe primacy effect describes the tendency for initial information to impact judgment disproportionately. When individuals encounter...
Counterfactual Thinking01:19

Counterfactual Thinking

Counterfactual thinking is a cognitive process wherein individuals mentally reconstruct alternative versions of past events, often beginning with “what if” or “if only.” This reflective mechanism plays a significant role in shaping emotional experiences and guiding future behavior. Though typically triggered by unfavorable or unexpected outcomes, counterfactual thinking can also emerge in mundane, everyday decisions and experiences, revealing its deep entrenchment in human cognition.Types of...

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Updated: Jun 19, 2026

Operant Protocols for Assessing the Cost-benefit Analysis During Reinforced Decision Making by Rodents
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Operant Protocols for Assessing the Cost-benefit Analysis During Reinforced Decision Making by Rodents

Published on: September 10, 2018

Make better decisions.

Thomas H Davenport1

  • 1Babson College, Wellesley, Massachusetts, USA.

Harvard Business Review
|November 7, 2009
PubMed
Summary

Organizations must systematically analyze decision-making processes to avoid poor outcomes. Implementing a four-step approach, including prioritizing decisions and designing roles, can improve organizational choices.

Area of Science:

  • Business Management
  • Organizational Behavior
  • Decision Science

Background:

  • Organizational decision-making has historically lacked systematic analysis, contributing to significant strategic errors.
  • Despite available insights in business literature, organizations have been slow to adopt effective decision-making frameworks.
  • Recent high-profile failures underscore the urgent need for structured approaches to organizational decisions.

Purpose of the Study:

  • To propose a systematic, four-step framework for improving organizational decision-making.
  • To highlight the importance of analyzing and optimizing decision processes within businesses.
  • To provide actionable strategies for enhancing the quality and effectiveness of corporate decisions.

Main Methods:

  • Proposing a four-step model: decision prioritization, factor assessment, role/process design, and tool institutionalization.

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  • Examining case studies of organizations like Educational Testing Service (ETS) and The Stanley Works for successful implementation.
  • Recommending leadership practices such as incorporating diverse perspectives and managing analytical models.

    • Main Results:

    • Organizations can improve decision-making by systematically analyzing and structuring the process.
    • Implementing specific strategies, such as centralized deliberative bodies or Centers of Excellence, yields positive results.
    • Successful decision improvement requires clear assumptions, model management, and human oversight.

    Conclusions:

    • A structured, four-step approach is essential for enhancing organizational decision-making effectiveness.
    • Learning from successful implementations and adopting best practices can mitigate risks associated with poor strategic choices.
    • Continuous human involvement and adaptability are crucial for refining decision criteria over time.