Decisions That Waste Time and Money

Decisions That Waste Time and Money

Many managers rely on gut instinct to make important decisions, which often leads to poor results. On the contrary, when managers insist on incorporating logic and evidence, they make better choices and their companies benefit. Here are three ways to introduce evidence-based management at your company:

• Demand evidence. Whenever anyone makes a compelling claim, ask for supporting data. Don't take someone's word for it.
• Examine logic. Look closely at the evidence and be sure the logic holds up. Be on the lookout for faulty cause-and-effect reasoning.
• Encourage experimentation. If you don't have evidence, create some. Invite managers to conduct small experiments to test the viability of proposed strategies and use the resulting data to guide decisions.

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