Is bounded-vision an adequate explanation of strategic decision-making failures

One important area in which Management Science should be involved must surely be in the prevention of corporate failure. In this paper we therefore use a scientific methodology to try to identify the major causes of such failure. Two widely differing systems are examined and a large number of hypotheses considered as explanations of failure. In each case the only hypothesis which we are unable to reject, is that prior to the failure the dominant decision-makers in the system were not prepared to accept facts which were plainly available and which, if acted upon, could have prevented disaster. This allows us to suggest some ways of helping to prevent failure. Nevertheless, we feel that research into the mechanisms generating this phenomenon, which we have called bounded-vision, is required before adequate technologies can be designed.