High-Stakes Decision Making: The Lessons of Mount Everest

Topics:
Decision making
Tags:
Everest Analysis,
Harvard Knowledgebase,
Leader,
Leadership,
Management,
Mount Everest
Source:
Harvard Knowledgebase

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Overview: On May 10, 1996, five mountaineers from two teams perished while climbing Mount Everest. Is there anything business leaders can learn from the tragedy? HBS professor Michael A. Roberto used the tools of management to find out. This multi-lens analysis of the Everest case provides a framework for understanding, diagnosing, and preventing serious failures in many types of organizations. However, it also has important implications for how leaders can shape and direct the processes through which their organizations make and implement high-stakes decisions. The Everest analysis suggests that leaders must pay close attention to how they balance competing pressures in their organizations, and how their words and actions shape the perceptions and beliefs of organization members. In addition, the case provides insight regarding how firms approach learning from past failures.

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Format: HTML | Size: 50KB | Date: Aug 2002 | Pages: 1

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