Looking Ahead for Evidence based Management

Evidence-based management (EBM) is an emerging movement to explicitly find and use the current, best evidence in management decision-making. EBM encompasses managerial decisions and organizational practices backed up by by the best available scientific evidence. An important part of EBM is educating current and future managers in evidence-based practices A college degree may be required for an MBA – but not to be a manager. The adoption of evidence-based practices, therefore is likely to be organization-specific, where leaders take the initiative to build an evidence based culture. Organizations successfully pursuing evidence-based management typically go through cycles of experimentation and redesign their practices consistent with their values and mission. EBM enhances the overall quality of organizational decisions by combining conscientious, judicious use of best evidence with individual expertise; ethics; reliable business and organizational facts; and consideration of impact on stakeholders. This paper attempts to carve out the fundamental FIVE principles of EBM • Benchmarking of what winners do • Commitment to Fact based Decision Making • Encouragement to Experimentation and ‘learning by doing’ • Finding out Hard Facts and building a Culture • Looking for Risk and drawbacks in recommendations of people