When making big decisions, executives use familiar tools like discounted cash flow analysis far too often. That’s because the more uncertain a business context is, the less likely running some numbers and probabilities through a spreadsheet will be helpful. It’s much more useful to take a different approach: to build multiple qualitative scenarios, for example, or to develop a set of comparative reference cases.
The Six-Minute Guide to Making Better High-Stakes Decisions
In very uncertain situations, traditional decision-support tools just won’t cut it.
November 05, 2013
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New!
HBR Learning
Decision Making Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Decision Making. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Practical ways to improve your decision-making process.