This paper aims to examine the pros and cons of neo-classical realism as a theoretical approach to analyze the decision making and crisis management processes in foreign policy. Neoclassical realism is an emerging school of foreign policy theories which integrates international system and domestic political environment to explain states' foreign policy behavior. It identifies a state's interest, identity and preference as an intervening variable between the international system and foreign policy behavior. As Schweller (2003) points out, it also brings the statesman back in. Relying on the propositions of Neo-Classical Realism, this paper aims to share its early findings on how leader’s perception or belief affects foreign policy behavior and how we measure this relationship; which impacts the domestic groups or factors have on the decision-making process and how the decision-makers assess the international system and the power of state while managing the crisis.