Aaron Wildavsky, the famous American political scientist was fond of saying that a theory should be judged not against an impossible standard of perfection but by how well it performs in comparison with rival theories (Grendstad and Selle 1997). The Taran Patel is Professor, Strategy and Management Department, Groupe ESC Rennes, 2, Rue Robert DArbrissel, Rennes 35065. France.This conceptual article explores different personality assessment tools like the Myers-Briggs Type Inventory (MBTI) tool and the Five-Factor Model and compares them with a relatively new instrument called PerformanSe. We discuss the strengths and weaknesses of each of these instruments commonly used for personality assessment. If understanding and predicting behaviours of people is important to academic and practitioners alike, it is equally important that they understand the strengths and weaknesses of the different personality assessment tools available to them. Understanding the limitations of the tools available curbs their perfectionist impulse and encourages them to treat these tools with a critical eye. This understanding will not only prevent practitioners from taking wrong decisions in recruiting or promoting employees, but will also save them from legal disputes.same could be said about tools or instruments used for personality assessment. None of the personality assessment tools can claim to be perfect. Each comes with its own set of strengths and weaknesses. In this article we hope to cast a critical eye on the strengths and weaknesses of conventional and recent personality assessment tools so as to enable academics and practitioners to use the appropriate personality assessment instrument for the right purpose. We also hope to emphasize that blind reliance on these tools for vital recruitment and promotion might be erroneous.