4/18/2011

Some experts say heuristics, or intuitive rules of thumb, can lead to the best decision making for companies. The caveat is that the decision makers need extensive knowledge in the fields that relate to their decisions, and they need to be aware of personal biases that could cloud their judgment. "The sweet spot for business decisions is ... when you have the knowledge to shrewdly interpret the facts and the wisdom to steer clear of the biases and destructive emotions that can hinder success," writes Modesto Maidique.

Related Summaries