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What is evidence-based management? Why is it important?
Evidence-based management (EBM) is a commitment to improve outcomes by using the current, best data to make management decisions. Management educators typically make limited use of the vast behavioral science evidence applicable to effective management practice. Often, business schools know what the best practices are, or have a very strong belief about what is needed to make their institution as effective as possible, but they do not have effective tools test their assumptions in order to effectively turn that knowledge into action.
In many cases, common management "wisdom" is not wise at all but, instead, flawed knowledge based on biases and ideologies that are actually poor, incomplete, or obsolete. More seriously, managers may use this unreliable knowledge to make decisions that are hazardous to organizational health. Business schools can bolster performance and trump the competition through evidence-based management, an approach to decision-making and action that is driven by hard facts rather than half-truths or assumptions.