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Article
Publication date: 18 June 2019

Weihua Liu, Di Wang, Shangsong Long, Xinran Shen and Victor Shi

The purpose of this paper is to provide an overview of the evolution of service supply chain management from a behavioural operations perspective, pointing out future…

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9072

Abstract

Purpose

The purpose of this paper is to provide an overview of the evolution of service supply chain management from a behavioural operations perspective, pointing out future research directions for scholars.

Design/methodology/approach

This study searched five databases for relevant literature published between 2009 and 2018, selecting 64 papers for this review. The selected literature was categorised according to two dimensions: a service supply chain link perspective and a behavioural factor perspective. Comparative analysis was used to identify gaps in the literature, and five future research agendas were proposed.

Findings

In terms of the perspective of service supply chain link, extant literature primarily focuses on service supply and service co-ordination management, and less on service demand and integration management. In terms of the behavioural factor’s perspective, most focus on classic behaviour factors, with less attention paid to emerging behaviour factors. This paper thus proposes five research agendas: demand-oriented management and integrated supply chain-oriented behavioural research; broadening the understanding of the scope of behavioural operations; integrating the latest backgrounds and trends of service industry into the research; greater attention to behavioural operations in service sub-industries; and multimethod combination is encouraged to be used to dig into the interesting research problems.

Originality/value

This study constitutes the first systematic review of service supply chain research from a behavioural perspective. By categorising the literature into two dimensions, the state of existing research is evaluated with an eye towards future research avenues.

Details

Modern Supply Chain Research and Applications, vol. 1 no. 1
Type: Research Article
ISSN: 2631-3871

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Book part
Publication date: 21 September 2018

James D. Westphal

In this chapter, I draw from theory and research on intergroup relations and decoupling to critique prevailing conceptions of behavioral strategy, and then propose a…

Abstract

In this chapter, I draw from theory and research on intergroup relations and decoupling to critique prevailing conceptions of behavioral strategy, and then propose a viable alternative. I suggest that prevailing definitions of behavioral strategy exclude or marginalize theoretical perspectives that should logically be included, which has (1) created undesirable ingroup/outgroup dynamics in the strategy field and (2) resulted in decoupling between behavioral strategy as defined by category leaders and the actual content of research conducted by category members. I contend that this state of affairs has likely reduced the impact of behavioral strategy on other disciplines, and also likely constrained its impact on non-academic audiences. As an alternative, I propose a more interdisciplinary approach that involves identifying behavioral mechanisms that explain how social and psychological processes at different levels of analysis interact and interrelate to affect strategy and performance.

Details

Behavioral Strategy in Perspective
Type: Book
ISBN: 978-1-78756-348-3

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Article
Publication date: 15 May 2017

Zamri Ahmad, Haslindar Ibrahim and Jasman Tuyon

This paper aims to review the theory and empirical evidence of institutional investor behavioral biases in the lenses of behavioral finance paradigm. It surveys the…

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2901

Abstract

Purpose

This paper aims to review the theory and empirical evidence of institutional investor behavioral biases in the lenses of behavioral finance paradigm. It surveys the research specifically focusing on behavioral biases among institutional investors in investment management activities worldwide.

Design/methodology/approach

A literature survey is done to gather and synthesize evidence on behavioral biases of institutional investors.

Findings

The survey and analysis reveal the following findings. First, the theoretical underpinning of investors’ irrational behavior has been neglected in behavioral finance research. Second, the behavioral heuristics and biases are dynamic and complex. Third, understanding behavioral biases’ origin, causes and effects requires interdisciplinary perspectives from the fields of psychology, sociology and biology.

Originality/value

The analysis and alternative perspectives drawn in this paper provide new insights into the field of behavioral finance and aims to suggest researchers, practitioners and regulators on the next course of actions.

Details

Management Research Review, vol. 40 no. 5
Type: Research Article
ISSN: 2040-8269

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Abstract

Details

Behavioral Strategy in Perspective
Type: Book
ISBN: 978-1-78756-348-3

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Book part
Publication date: 21 September 2018

Mie Augier and Nicholas Dew

This paper reflects on the evolution of implicit and explicit behavioral ideas in the field of strategic management using Herbert Simon’s scholarship as a starting point…

Abstract

This paper reflects on the evolution of implicit and explicit behavioral ideas in the field of strategic management using Herbert Simon’s scholarship as a starting point, that is, his emphasis on empirically driven; interdisciplinary theorizing allowing and enabling two-way street learning. We argue that historically, there were plenty of behavioral ideas embedded in the field and, together with the recent movement towards explicit “behavioral strategy,” these provide several possible paths for future developments in strategic management research. In the spirit of broadening the tent for behavioral strategy in the future (Hambrick & Crossland, 2018), we suggest some topics and approaches for behavioral strategy in empirically driven, interdisciplinary directions which allows also for two-way street learning between concepts and real-world strategic phenomena.

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Article
Publication date: 5 June 2018

Asma Mejri, Sonia Ayachi-Ghannouchi and Ricardo Martinho

The purpose of this paper is to measure the flexibility of business process models. The authors give the notions of flexible process distance, which corresponds to the…

Abstract

Purpose

The purpose of this paper is to measure the flexibility of business process models. The authors give the notions of flexible process distance, which corresponds to the number of change operations needed for transforming one process model into another, considering the different perspectives (functional, operational, behavioral, informational, and organizational).

Design/methodology/approach

The proposed approach is a quantitative-based approach to measure the flexibility of business process models. In this context, the authors presented a method to compute the distance between two process models. The authors measured the distance between a process model and a process variant in terms of the number of high-level change operations (e.g. to insert or delete actors) needed to transform the process model into the respective variant when a change occurred, considering the different perspectives and the flexible features.

Findings

To evaluate the flexibility-measurement approach, the authors performed a comprehensive simulation using an emergency care (EC) business process model and its variants. The authors used a real-world EC process and illustrated the possible changes faced in the emergency department (possible variants). Simulation results were promising because they fit the flexibility needs of the EC process users. This was validated using the authors’ previous work which consists in a guidance approach for business process flexibility.

Research limitations/implications

The authors defined six different distances between business process models, which are summarized in the definition of total process distance. However, changes in one perspective may lead to changes in other perspectives. For instance, adding a new activity may lead to adding a new actor.

Practical implications

The results of this study would help companies to obtain important information about their processes and to compare the desired level of flexibility with their actual process flexibility.

Originality/value

This study is probably the first flexibility-measurement approach which incorporates features for capturing changes affecting the functional, operational, informational, organizational, and behavioral perspectives as well as elements related to approaches enhancing flexibility.

Details

Business Process Management Journal, vol. 24 no. 4
Type: Research Article
ISSN: 1463-7154

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Article
Publication date: 7 August 2017

Zamri Ahmad, Haslindar Ibrahim and Jasman Tuyon

This paper aims to explore the relevance of bounded rationality to the practice of institutional investors in Malaysia. Understanding institutional investor behavior is…

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1411

Abstract

Purpose

This paper aims to explore the relevance of bounded rationality to the practice of institutional investors in Malaysia. Understanding institutional investor behavior is important, as it can determine the asset prices and consequently the market behavior.

Design/methodology/approach

A set of questionnaires is used to solicit information regarding the understanding and practical application of behavioral finance theories and strategies among fund managers in the Malaysian investment management practice. In the process, bounded rational theory is aimed to be validated. Fund managers’ possible bounded rational behavior is assessed with reference to their investment management approaches and strategies right from individual beliefs and acquisition of information, as well as investment management and strategies used.

Findings

The findings lend support to the notion that institutional investors too, being normal human beings, are expected to think and behave in a boundedly rational manner as postulated in bounded rational theory. The sources of bounded rationality are individual, institutional and social forces. Thus, portfolio trading and investment management strategies are exposed to wide varieties of behavioral risks. Despite the notions that behavioral risks are real and the impact on fund performance could be pervasive, fund managers’ self-awareness regarding control and institutional readiness to govern behavioral risks in investment practices is still low.

Research limitations/implications

Empirical evidence drawn in the current paper is subjected to small sample size and specific focus on Malaysian context. Despite this limitation, the sample is statistically sufficient and provides a fair representation, as well as quality opinions, of fund manager’s investment management behavior in Malaysia. This research provides valuable implications to practitioners (fund managers) and regulators (investment management and capital market policymakers). In practice, the current study draws some practical ideas, especially for buy-side institutional investors, on the source and impact of behavioral biases on fund management practices and performance. For regulators, this research highlighted the needs and possible ways to regulate these behavioral risks.

Originality/value

The current paper provides new insights on the theory and practice of the institutional investor. In theory, this research provides evidence of bounded rationality of institutional investor behavior, practicing in the asset management industry in the emerging markets of Malaysia. This evidence lends support to the validity of the bounded rationality theory in explaining institutional investor behavior. In practice, thisresearch provides new insights on the relevance of behavioral finance perspectives and strategies in the asset management industry practice and policy.

Details

Qualitative Research in Financial Markets, vol. 9 no. 3
Type: Research Article
ISSN: 1755-4179

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Book part
Publication date: 19 August 2015

Mark J. Zbaracki and Mark Bergen

We return to the problem that motivated the original behavioral theory of the firm, price adjustment, but from the standpoint of post-Carnegie School perspectives on…

Abstract

We return to the problem that motivated the original behavioral theory of the firm, price adjustment, but from the standpoint of post-Carnegie School perspectives on cognition, attention, and routines. Whereas work in the Carnegie School tradition has tended to develop models of firms in opposition to economic theory, we seek to understand how economic ideas are used to shape decision processes. Using a combination of interview, observational, and archival data gathered at a large manufacturing firm that produced parts to maintain machinery, we develop a behaviorally plausible story of how organizations shape price adjustment. We follow three successive waves of managers seeking to improve the pricing routines through shifting attentional perspective, managing attentional engagement, and structuring attentional execution. We demonstrate how managers redesign routines to shape cognition and attention, thereby developing greater coherence in the market representations of the sales force. Our findings show how reshaping cognition and attention in pricing routines can improve organizational intelligence in pricing decisions. Economists treat markets as the ideal – the best that can be imagined – and organizations as second-best options – the best that can be achieved, but our findings invert the story, suggesting that in modern market economies, organizations and routines are essential to making the price system work.

Details

Cognition and Strategy
Type: Book
ISBN: 978-1-78441-946-2

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Book part
Publication date: 25 November 2019

Patrick Haack, Jost Sieweke and Lauri Wessel

This double volume presents the state of the art in research on the microfoundations of institutions. In this introductory chapter, we develop an overview of where the…

Abstract

This double volume presents the state of the art in research on the microfoundations of institutions. In this introductory chapter, we develop an overview of where the emerging microfoundational agenda in institutional theory stands and in which direction it is moving. We discuss the questions of what microfoundations of institutions are, what the “micro” in microfoundations represents, why we use the plural form (microfoundations vs microfoundation), why microfoundations of institutions are needed, and how microfoundations can be studied. Specifically, we highlight that there are several traditions of microfoundational research, and we outline a cognitive, a communicative and a behavioral perspective. In addition, we explain that scholars tend to think of microfoundations in terms of an agency, levels, or mechanisms argument. We delineate key challenges and opportunities for future research and explain why we believe that the debate on microfoundations will become a defining element in the further development of institutional theory.

Details

Microfoundations of Institutions
Type: Book
ISBN: 978-1-78769-123-0

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Article
Publication date: 28 October 2021

Mie Augier and Sean F. X. Barrett

The purpose of this paper is to discuss some of James G. March’s key ideas and extend and integrate them with the works and ideas of John Boyd, whose work is highly…

Abstract

Purpose

The purpose of this paper is to discuss some of James G. March’s key ideas and extend and integrate them with the works and ideas of John Boyd, whose work is highly relevant to, yet neglected by, behavioral and evolutionary perspectives on decision-making, organizations and strategy.

Design/methodology/approach

This paper integrates and synthesizes ideas in behavioral organization studies with those of John Boyd.

Findings

The authors suggest that when integrated, Boydian and Marchian ideas can enrich the understanding of particular ideas and mechanisms identified in behavioral organization studies and help broaden the intellectual and interdisciplinary range of the field in consonance with March’s vision for it.

Originality/value

The authors combine and integrate ideas central to the field of organization studies with those of an “outsider.”

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