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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 8: Overall research conclusions

Eric J. Bolland and Carlos J. Lopes

Extract

Although some performance factors have been found to be related to decisions, most are unknown. On performance factors, smaller firms report sales revenue, employee productivity and customer loyalty as important measures of success. Larger companies mainly use revenues and other financial measures. Market standing is used as well. Innovation is measured used but is measured differently in firms. Manager development was used as a performance by real-world participants. Corporate social responsibility is a factor described by respondents but not found to be statistically significant. Who sets performance standards is a concern of interviewed CEOs. When CEOs make disastrous decisions, they tend to leave. A strategic orientation and building a learning organization are antidotes for poor decisions. Concealed CEO decisions are addressed. Decision failures are sources to CEO ethics, too ambitious growth, human management, product line management and new market entry. The revised conceptual model of decisions and performance is described.

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