Intuition: the missing ingredient for good managerial decision-making
Abstract
Purpose
This paper aims to clarify the role of intuition in managerial decision making by identifying when intuitive decision making is typically applied, of what value it is for organizations and what inhibits its application.
Design/methodology/approach
The authors combine insights from cognitive and social psychology with empirical evidence from a survey study with Austrian organizations.
Findings
In conjunction with deliberation, intuitive decision making contributes positively to organizational performance. Its application is moderated by a person’s hierarchical position, organization size as well as the subject at hand.
Research limitations/implications
While literature suggests to rely on self-reports to measure success, this approach can also be perceived as a limitation of this paper. Although insiders are most knowledgeable about their organizations, their information might lack objectivity. It is therefore important that future research applies more objective success measures.
Practical implications
This research stresses the merits and dangers of intuitive decision making and advises managers how to become “good” intuitive decision makers.
Social implications
Understanding the hallmarks of intuitive decision making, as well as the factors that moderate it, alters the understanding of our actions and therefore has implications for all human interactions.
Originality/value
This paper adds to existing literature on intuition in management research by providing empirical data regarding the value of intuition and factors that inhibit its application in organizational contexts.
Keywords
Citation
Matzler, K., Uzelac, B. and Bauer, F. (2014), "Intuition: the missing ingredient for good managerial decision-making", Journal of Business Strategy, Vol. 35 No. 6, pp. 31-40. https://doi.org/10.1108/JBS-12-2012-0077
Publisher
:Emerald Group Publishing Limited
Copyright © 2014, Emerald Group Publishing Limited