Review of Judgment Calls
Copyright 2012 Harvard Business School Publishing Corporation
Summarized by permission of Harvard Business Review Press
Looking for the book?
We have the summary! Get the key insights in just 10 minutes.
Many executives make decisions without consulting experts, weighing facts, considering options or engaging in thoughtful analysis. They trust their intuition and act accordingly. Such decisions often prove ruinous. Knowledge management experts Thomas H. Davenport and Brook Manville propose an alternative decision-making process – “organizational judgment” – that relies on the collective wisdom, expertise and reasoning of well-informed, collaborative groups. The authors cite case studies of varying strengths to illustrate how organizational judgment results in far better decisions than those based on the “golden guts” hunches of prominent individuals – all of whom are subject to the same cognitive biases as everyone else. getAbstract recommends this perceptive analysis to all decision makers and organizational leaders.
About the Authors
Thomas H. Davenport, a professor of information technology and management at Babson College, specializes in analytics and knowledge management. Consultant Brook Manville is the former director of knowledge management at McKinsey & Company.
By the same authors
Customers who read this also read
Comment on this recommendation
5 years ago"Don't put all you eggs in one basket" might be an old saying but these case studies highlight how true it remains.
6 years agoExcellent read!
6 years agoHaving the courage and willpower to follow through with collective decisions is vital. Some leaders simply find it too difficult to go with a decision they didn't instigate. Read 'Oracles' by Donald Thompson, for further insight into the power of prediction markets.
6 years agothanks for the suggestion of 'Oracles'. I will check this out.
6 years agoExcellent case studies to remind us that making decisions with the help of a team is much better than going it alone.
6 years agoI completely agree. I find this practice especially useful in the healthcare industry, as most people seek different opinions prior to choosing a doctor when faced with difficult decisions. This could save the patient a lot of time and money to know that the decision reached was made from a group of doctors and not just one.