Search results

Management decision constitutes the most important thing that managers do. Given the significance and complexity of this activity, one would expect to find a literature in which there is general agreement as to its defining characteristics and dimensions. Such is not the case. Much writing that purports to treat various aspects of management decision takes place outside the organization or involves individuals who are not or are not likely to become practising managerial decision makers. The consequence of this diffused and disjointed approach is a general misconception of the essence of management decision. More specifically, there is a general lack of appreciation of what management decisions are, who makes them, and where they are implemented. Intends to correct these generic misconceptions by advancing a set of theories and concepts that embodies the essence of management decision. The assimilation of these perspectives and viewpoints should enhance the reader’s conception of what management decision is and is not thereby contributing to higher levels of decision success in organizations of all types.

The purpose of this article is to extend and reinforce previous research intended to demonstrate that a process model of decision making is conducive to strategic decision success. Using a strategic decision matrix with a two‐dimensional focus, 16 high‐visibility strategic decisions from different corporations in the 1990s are evaluated and classified to support the hypothesis that a formal decision‐making process is conducive to successful strategic decision outcomes. The results of this evaluation clearly indicate that, in the absence of a managerial decision‐making process, successful outcomes are unlikely to materialize. Conversely, although a process‐oriented approach to strategic choice affords no guarantee of a successful outcome, the likelihood of this occurrence tends to increase with this approach. This revisiting of strategic decision success confirms earlier research in this critical area. Hopefully, it will elicit subsequent research of a similar nature.

Takes the view that managerial decisions are made in a diversity of organizational settings which can best be explained and evaluated in the context of conceptual interdisciplinary decision‐making models, and that such models constitute an appropriate vehicle for explaining the eclectic aspects of managerial decision making in all types of formal organization. Presents a typology of conceptual decision‐making models and evaluates their similarities and differences along with their respective efficacies in various managerial decision‐making contexts. Advances the process model of managerial decision making as the ideal choice for decisions which have significant long‐term consequences for the whole organization.

This article posits a paradigm of levels of success for strategic decision outcomes. A high level of strategic decision success is normally preceded by a positive strategic gap in which the strengths of the organization clearly outweigh its weaknesses. Three comprehensive cases are set forth as practical applications to illustrate and confirm the paradigm of levels of strategic decision success. Philip Morris’s decision in 1984 to diversify into the food processing industry is proffered as the epitome of a highly successful strategic choice. General Motors’ decision in 1978 to reinvent the corporation is advanced as a hallmark of a marginally successful strategic outcome. And Walt Disney’s decision in 1996 to acquire Capital Cities/ABC is cited as an example of a strategic choice with an indeterminately successful outcome. The conclusions in all three cases are supported by current research findings.

Strategic decisions represent the most important product of managerial endeavors; and strategic choice is the most critical variable in strategic management. This article advances a set of foundations in which the effectiveness of a total organization may be ascertained from the effectiveness of the strategic decisions made by its senior executives. A categorization of strategic decision effectiveness is presented that is derived from managerial attitudes toward a given strategic choice and the process from which it originates.

Conceptualizes a paradigm for strategic decision success that is based on a formal, managerial decision‐making process, advanced as part of a set of managerial attitudes towards the process and towards the decision itself. The resultant typology of strategic decisions is related to four sets of real‐world applications to validate the paradigm and to confirm the hypothesis that a formal managerial decision‐making process is conducive to strategic decision success. Concludes that an attainable objective set in an open, decision‐making process and pursued through a judgemental process in quest of a satisficing outcome is more likely to succeed.

Presents and compares two contrasting managerial attitudes towards strategic decisions. The first attitude is called maximizing behaviour, and it is founded on a set of assumptions that are unattainable in real‐world decision making. The use of this attitude invariably results in a failed strategic decision. The second managerial attitude is called satisficing behaviour, and its use is demonstrably conducive to strategic decision success. Applications of real‐world successful and failed strategic decisions tend to confirm the case for satisficing behaviour in quest of successful strategic outcomes.

Posits that a process perspective on strategic decision making is more likely to yield a successful outcome. Conceives the strategic decision‐making process as a composite of the concept of strategic gap and the managerial decision‐making process. Presents six examples of real‐world strategic decision in support of a process approach to the making and implementing of such decisions. The evidence in support of a process perspective on strategic decision making suggests a need for further research and exposition of this critically important subject.

Introduces and delineates the concept of strategic planning maturities. It thus represents a small addition to the total body of knowledge underlying the strategic planning process. Uses a conceptual model to explicate the dynamic interrelationship between planning horizons and strategic planning maturities. Theoretical applications and real‐world applications link the concept of strategic planning maturities to successful and unsuccessful strategic decisions actually made by top management in a cross‐section of large organizations.

This study describes the development of a grounded theory of applied critical thinking in leadership studies and examines how student-centered experiential learning in leadership education bridged critical thinking with action. Over three semester undergraduate students in an upper level leadership studies course at a large four-year public institution in the southeastern United States completed a written assignment in which they were asked to define the concept of “leading critically.” A grounded theory of critical leadership – utilizing critical thinking skills to make decisions about leadership actions in different situations – emerged after completing a qualitative document analysis of these papers and incorporating the researchers’ existing knowledge of leadership and student development theory. The hope is that this research will create dialogue concerning new approaches to leadership education and encourage practices that apply critical thinking skills to leadership.