MGT Notes

Reference: Strategic Management (5e) – Frank T. Rothaermel (Pg 62)

There are two recommended processes that can be followed for improving the quality of decision making and to overcome biases.

1. Devil’s Advocacy: Here, one side generates a course of action. A second side then challenges this proposal by questioning the underlying assumptions , pointing out what can go wrong and highlighting the downsides. The first side then revises the initial proposal based on the feedback. The process can then be repeated.
2. Dialectic Inquiry: Here, both sides each generate a course of action, known as a thesis and an antithesis. Then, both plans are synthesized into a compromise plan that addresses each.