Business Finance Homework Help

In an ideal world, all of us would like to think that we make decisions logically and rationally based on the most relevant evidence available. However, in practice, we know that this does not always happen for a variety of reasons – cognitive biases, emotional impulses, contextual constraints, etc.

This week’s case is not a case at all; it is a chapter that outlines the basic premise and practice of evidence-based management. Although it is not always possible to be perfectly logical in managerial decision-making, all organizations can strive to improve their decision-making.

For this week’s discussion, respond to the following:

1. Describe a time when you made a decision, either personally or professionally, that was based on data and evidence. What was the situation, and what data or evidence did you use?
2. Describe a time when you made a decision, either personally or professionally, that was NOT based on evidence. Try to be thoughtful in explaining why you did not use data or evidence in this situation. You can use your answer to the first question as a contrast, if that’s helpful.