Managers make decisions, large and small, every day. But how many managers stop to consider how those decisions are made, and whether they consciously try to make wise decisions? For a detailed look at the components of wise management decision‐making, a valuable recent article is “Conceptualizing Wise Management Decision‐Making: A Grounded Theory Approach,” by Ali Intezari and David J. Pauleen, in Decision Sciences (2017). Intezari is currently a senior lecturer in the School of Management, Massey University, Auckland, New Zealand; Pauleen is associate professor in business information systems at the same school.According to the authors, “the findings show that making wise decisions in the business context is not an easy task. Wise management decision‐making is a complex, multifaceted, and multilayered process. To make a wise management decision, a manager needs to be able to apply four major principles when making a strategic decision.”In their words, these principles are:Multiperspective consideration: involves proper consideration of the short‐ and long‐term possible consequences of each decision option, multiple stakeholders’ perspectives, and ethicsSelf–other awareness: conveys that a manager's understanding of his/her knowledge, expertise, (in)abilities, skills, characteristics, interests, attitudes, and values, combined with his/her understanding of their surrounding environment, plays a critical role in wise
Leader to Leader – Wiley
Published: Jan 1, 2018
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