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Decision Making and Business Performance

Eric J. Bolland and Carlos J. Lopes

This breakthrough study examines how business decisions explain successful and unsuccessful performance. Real world and academic research is evaluated, including interviews and cases studies, to create a model of how decisions and performance are connected for businesses of all sizes. Recommendations are made to optimize decision making and projections about the future of decision making and performance are provided.
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Chapter 4: Modeling performance and research approach

Eric J. Bolland and Carlos J. Lopes

Extract

The value of having a model of decisions and performance is described. Without a model, there is no guiding path to discovery. The core of the model is decision followed by performance. Organizational decision making is formalized and recorded. The model should represent reality as closely as possible. The process of modeling is: build model, apply model, analyze results, confirm or reject model. Considerations in modeling are discussed including elusive decision making, and poor assumptions. Deceptive and concealed decisions are addressed.

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