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Why do good managers make bad decisions?

Jack Smith, Dialogue, Flowers Gallery

On BusinessWeek.com, Matt Boyle talks to management guru Sydney Finkelstein about his latest book Think Again, which examines why ostensibly good managers make poor decisions.

In the book, Finkelstein pinpoints four key internal biases that lead to poor decision making. These are: inappropriate prejudgments, inappropriate experience, self interest and attachments.

The first two biases are the most interesting, according to Boyle. Inappropriate prejudgment occurs when a course of action is chosen, and then advice or information that does not adhere to that path is ignored. Inappropriate experience is an attitude of "what worked before will work again".

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