Saturday, June 9, 2007

Decision-Making and intuition

What is the linkage between managerial Decision-making and intuition? Most of us would like to believe that management is a perfect science, and one can afford to rely totally on facts and analysis. That is why time and again we come up formulas and prescriptions on achieving success in the market place. The problem of accepting that intuition could have an important role to play in Decision-making is discomforting because it takes away a lot of control over things which we are comfortable with and can be verified upon. By going away from analysis we are accepting that there are things which are not in our control, or maybe driven by the gut-feel of an executive, reinforces the fact that maybe what was achieved yesterday using ‘n’ variables would not lead to the same result tomorrow even with the same input, so we are accepting is that managerial decision making is closer to cooking than a precise science?

The book "The case of the Bonsai Manager" written by R Goplakrishnan, dwells upon the importance of intuition and how managers should consciously try to develop it. In the book he has used many of his personal experiences, which are drawn from his experiences in HLL and Tata’s and analogies from the animal world to elaborate his views. For me who has been a regular follower of his column in Economic times the book was a one stop source of his ideas, and I would recommend it highly to any one with interest in management and especially younger people....

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