Dr. Greg McLaughlin, Master Methodologist in the College of Doctoral Studies and Dr. Heidi McLaughlin, adjunct instructor in the Colangelo College of Business presented “Business Decision Failures – A Post-Mortem Analysis'' at the International Academic Conference on Business (IACB) October 7-10 in Las Vegas, Nevada. The submission appears in the Conference Proceedings.
This article outlines the process and diagnoses the loss to a business when a decision fails can vary anywhere from an unexpected consequence to a failed (shuttered) business. When decision outcomes are different than expected, or have failed, decision weaknesses are present. These weaknesses exist when items or elements needed to make the decision are missing, incomplete or have failed. This paper will discuss these weaknesses (identified as flaws) and provide a tool used to identify and prioritize these weaknesses. By eliminating these flaws, the decision-maker improves their overall chance for future decision-making success.
This paper is part of a series on Informed Decision Making and Decision Deficiencies, Process and Models.