Wise management decision making

This chapter introduces a meta decision-making model, which provides a meta approach to the whole process of decision making. At the meta decision-making stage, upon encountering the decision situation, the manager, based on prior knowledge and experience, makes suppositions about the decision situation, and begins to make decisions on how to handle the decision-making process. Wise management decision-making explains a meta decision-making perspective that enhances the chances of making an effective strategic decision, given the wickedness of management decision situations, fallibility of knowledge, the emergence of analytics, as well as the complexity of management decision-making processes. The accuracy and development of Multi-Perspective Consideration is highly dependent on the extent to which the decision maker is able and willing to incorporate both cognition and emotions into the cognitive-emotional mastery. The wisdom principles guide the decision maker’s approach to decision making holistically, rather than just providing a set or order of specific and fragmented decision functions.