Making decisions, Wharton style

Malaysian Business, Jun 1, 2001 by Reviewed by S Jai Shankar

Wharton on Making Decisions

Editors: Stephen J Hoch, Howard C Kunreuther and Robert E Gunther,

Publisher: John Wiley and Sons Inc

THE ART of decision-making is just that - an art. There aren't many people

who have mastered it simply because there are simply too many variables

related to it. But that has not stopped business schools from cashing in

on the subject. Of course, Wharton Business School does not intent to be

left out from commenting on the subject.

The book is a compendium of articles by authors related to Wharton. They

tackle a disparate number of issues relating to decision making, which

include the impact of strategic learning, personal reputation and

deception in negotiated decisions.

The differences in decision-making cultures in the East and the West are

also given some treatment. For example, in chapter six, the authors make a

comparison of the reflective decision making style, which is the hallmark

of Asian managers, and the expedient decision making style which most

Western managers are comfortable with. But, of course, there isn't one

single style that fits all.

Also tackled is the subject of split personalities, ie, the

inconsistencies that exist in private and public decisions. This is an

intriguing topic that seeks to explain why different sets of values are

put into practice in different environments. Nevertheless, the case study

chosen to illustrate the idea is related to the American healthcare

industry. As such, it will be difficult to relate to some aspects of the

article if you are not American.

Most likely, this book will not appeal to casual readers. In fact, I

doubt it will even appeal to busy professionals. The basic flaw is that

the content is tackled in a rather tepid, academic way. It is way too

heavy reading and at times, even technical. But if you are in the

consulting line, or an academician, then this is your cup of tea. Also not

forgetting MBA students who are in constant search for reference material.

This will be an excellent source for them as well.

Books available at MPH and other leading bookstores nationwide.