Best of 2007: The Halo Effect, and Other Managerial Delusions

MCKINSEY QUARTERLY—In the quest to achieve superior performance, executives often rely on advice in business books, articles, and business school case studies that claim to reveal a blueprint for gaining lasting competitive advantage.

The research underpinning this advice, however, is often deeply flawed and, worse, obscures the basic truth that success in the business world is based on decisions made under uncertainty and in the face of factors executives cannot control. Read article.