Profiting from evidence‐based management

Abstract

PurposeThis article advocates for evidenced‐based management and aims to demonstrate how it works.Design/methodology/approachThe article identifies seven implementation principles to help people and companies that are committed to doing what it takes to profit from evidence‐based management.FindingsThe seven principles are: treat your organization as an unfinished prototype; no brag, just facts; see yourself and your organization as outsiders do; evidence‐based management is not just for senior executives; like everything else, you still need to sell evidenced‐based management; if all else fails, slow the spread of bad practices; and the best diagnostic question: what happens when people fail?Research limitations/implicationsA follow‐up article needs to show results when firms institute evidence‐based management.Practical implicationsA key underpinning of evidence‐based management are three truths: that most so‐called breakthrough ideas are either old, wrong, or both; that effective companies and leaders are more interested in what is true than what is new; and that those that do simple, obvious, and even seemingly trivial things well will dominate competitors who search for silver bullets and instant magic.Originality/valueThe article explains why the implementation of evidenced‐based management promotes competitive advantage.