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Gray area problems in management decisions arise when the issues in front of you are unclear and lack basic facts. In this episode, Joseph Botaraco, a professor at Harvard Business School, discusses his book, 'Managing in the Gray,' and provides a framework for addressing these problems. He emphasizes the need to approach them as a manager, seeking the best information available through analytics, expert advice, and collaboration. However, when faced with a gray decision, relying solely on frameworks and analysis is insufficient. Instead, managers must make judgment calls based on their own experiences and intuition while being aware of core obligations and the potential consequences of their choices.