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Peter Drucker lectures about effective decisions. During his talk, he discusses: the risk and expense of capital investments in people, Douglas MacArthur and careful planning, rehearsal surgery to prepare for the unexpected, Sony and the PlayStation, the first systematic decision making study, medical diagnosis as a process of elimination, the budget as a decision making instrument, working with children with speech problems and the use of one-way mirrors, the hospital as an organization for sickness care, colleges with uncontrolled power, the importance of respect in doing a good job, and the Broken Window Theory. The video begins with the lecture in progress. The lecture continues beyond the length of the tape recording.