Judgment in Managerial Decision Making

Max   Bazerman; Don A. Moore

Book | 2013

Judgment in Managerial Decision Making

by Max Bazerman and Don A. Moore

Abstract

Is your judgment influenced by personal biases? In situations requiring careful judgment, we're all influenced by our own biases to some extent. But, with Judgment in Managerial Decision Making, you can learn how to overcome those biases to make better managerial decisions. The text examines judgment in a variety of organizational contexts and provides practical strategies for changing your decision-making processes and improving these processes so that they become part of your permanent behavior. Throughout, you'll find numerous hands-on decision exercises and examples from the authors' extensive executive training experience that will help you enhance the quality of your managerial judgment. Past editions have been used in top universities, in business schools, and in public policy, psychology, and economics classes. In addition, the text has been widely recognized by practitioners in the world of behavioral finance.

Keywords: Decision Choices and Conditions; Judgments; Management Practices and Processes; Management Skills; Managerial Roles; Performance Improvement; Prejudice and Bias;

Format: Print

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Citation:

Bazerman, Max, and Don A. Moore. Judgment in Managerial Decision Making. 8th ed. John Wiley & Sons, 2013.

Rather than try to follow a set of simple rules (“Don’t lie.” “Don’t cheat.”), leaders and managers seeking to be more ethical should focus on creating the most value for society. This utilitarian view, Bazerman argues, blends philosophical thought with business school pragmatism and can inform a wide variety of managerial decisions in areas including hiring, negotiations, and even time management. Creating value requires that managers confront and overcome the cognitive barriers that prevent them from being as ethical as they would like to be. Just as we rely on System 1 (intuitive) and System 2 (deliberative) thinking, he says, we have parallel systems for ethical decision-making. He proposes strategies for engaging the deliberative one in order to make more-ethical choices. Managers who care about the value they create can influence others throughout the organization by means of the norms and decision-making environment they create.

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Judgment in Managerial Decision Making

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