Managers' Choice Avoidance Costs Time, Effort, and Opportunities
Managers sometimes avoid making important investment decisions, which can be costly. A study with 120 executives found that when faced with difficult choices, managers felt more worried and anxious, and were more likely to delay decisions. However, using a decision aid helped managers focus and reduced their desire to postpone decisions. This suggests that providing tools to help managers make choices can improve decision-making processes.