Decision Analysis as an Aid to Strategy
Statistical decision theory is a theory of decision-making, i.e., of selecting among alternatives. It is not a theory of problem solving, i.e., of finding the cause of a particular set of symptoms. Thus, if the problem or opportunity is defined poorly even the best analysis thereafter will be of limited value. In fact, it could be detrimental.
Strategy and Organisation
Thomas, Howard and Schwenk, C. R..
Decision Analysis as an Aid to Strategy. (1984). Management Decision. 22, (2), 50-60. Research Collection Lee Kong Chian School Of Business.
Available at: http://ink.library.smu.edu.sg/lkcsb_research/3950