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1 – 10 of over 126000Abhishek Sharma, Chandana Hewege and Chamila Perera
This study explores the decision-making powers of Australian female consumers in the financial product market. More precisely, it examines how the integrative effects of…
Abstract
Purpose
This study explores the decision-making powers of Australian female consumers in the financial product market. More precisely, it examines how the integrative effects of rationality, emotions and personality traits influence the decision-making powers of Australian female consumers when making financial product purchase decisions.
Design/methodology/approach
The study employs a quantitative research approach, utilising a survey strategy. The proposed conceptual model was tested using structural equation modelling (AMOS) on a valid 357 responses from Australian female consumers.
Findings
The findings revealed that rationality, self-efficacy and impulsivity have a positive impact on the decision-making powers of Australian female consumers. Besides this, self-efficacy and anxiety had significant moderating effects on the decision-making power of Australian female consumers when buying financial products, whereas anger and impulsivity were found to have no moderating effects.
Research limitations/implications
The study offers understanding on the role of emotions and personality traits in financial decision-making, which can help financial institutions design sound products and services that can also ensure consumers' overall well-being.
Originality/value
Informed by the theoretical notions of the appraisal-tendency framework (ATF) and emotion-imbued choice model (EIC), the study makes a unique contribution by investigating the impact of rationality, emotions and personality traits on the decision-making powers of female consumers in the Australian financial product market.
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Wencang Zhou, Zhu Zhu and Donald Vredenburgh
As teamwork becomes more prevalent in organizational decision-making, the influence of emotional intelligence (EI) on team decision-making process demands more research attention…
Abstract
Purpose
As teamwork becomes more prevalent in organizational decision-making, the influence of emotional intelligence (EI) on team decision-making process demands more research attention. This study aims to investigate the impact of EI on team psychological safety and decision-making performance.
Design/methodology/approach
Team decision-making performance and decision quality from a team decision task were obtained from 54 decision-making teams composed of 241 undergraduate business students from a Mid-Atlantic university. Regression analyses were used to test individual and team’s EI relationship with team decision performance and the mediation effect of psychological safety.
Findings
This study provides empirical evidence that individual EI is positively related to individual influence on team decisions. Team-level EI improves team decision-making performance through increases in psychological safety.
Research limitations/implications
The sample size is relatively small, and the participants were business students; therefore, the research results may lack generalizability. Future research is encouraged to explore this topic further.
Practical implications
As teamwork becomes more prevalent in organizational decision-making, the influence of EI on team decision-making process demands more research and managerial attention. The findings of this paper provide insights on the importance of individual/team EI and psychological safety in team decision performance.
Originality/value
This study furthers research showing that emotions are pertinent to social interactions, including group decision-making, and therefore suggests the desirability of investigating other social processes affecting group decision-making.
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J.R.C. Pimentel, J.R. Kuntz and Detelin S. Elenkov
The purpose of this paper is to offer an interdisciplinary review of the existing research on ethical behavior – informed by philosophical theories, social sciences, and applied…
Abstract
Purpose
The purpose of this paper is to offer an interdisciplinary review of the existing research on ethical behavior – informed by philosophical theories, social sciences, and applied business research – and identifies the merits and limitations of the extant theories, including the applicability of prescriptive frameworks and models to business practice.
Design/methodology/approach
Following the review, the paper advances a descriptive model of ethical decision‐making criteria that elucidates how individual, organizational, and environmental variables interact to influence attitude formation across critical components of an ethical issue.
Findings
The model advanced expands upon other existing frameworks and provides a comprehensive and simultaneous assessment of the interplay between individual‐level variables (e.g. demographic variables, position in the organisation), the structure and climate of the organisation in which the decisions are made, and the social and political features of the business environment.
Practical implications
The proposed model can be used as a training tool and it holds several advantages over the extant alternatives, namely versatility (it is adaptable to the specific organizational context in which respondents are required to conceptualize the dilemma and generate courses of action), and scope (the model allows for the simultaneous assessment of a myriad of cross‐level variables).
Originality/value
The paper offers a comprehensive decision‐making model that can be used to examine ethical decisions in business settings, to investigate potential differences in decision‐making accuracy and ethical reasoning between groups and individuals, and to examine the impact of changing ethical climates in organizational strategy.
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Managers must make numerous strategic decisions in order to initiate and implement a business model innovation (BMI). This paper examines how managers perceive the management team…
Abstract
Purpose
Managers must make numerous strategic decisions in order to initiate and implement a business model innovation (BMI). This paper examines how managers perceive the management team interacts when making BMI decisions. The paper also investigates how group biases and board members’ risk willingness affect this process.
Design/methodology/approach
Empirical data were collected through 26 in-depth interviews with German managing directors from 13 companies in four industries (mobility, manufacturing, healthcare and energy) to explore three research questions: (1) What group effects are prevalent in BMI group decision-making? (2) What are the key characteristics of BMI group decisions? And (3) what are the potential relationships between BMI group decision-making and managers' risk willingness? A thematic analysis based on Gioia's guidelines was conducted to identify themes in the comprehensive dataset.
Findings
First, the results show four typical group biases in BMI group decisions: Groupthink, social influence, hidden profile and group polarization. Findings show that the hidden profile paradigm and groupthink theory are essential in the context of BMI decisions. Second, we developed a BMI decision matrix, including the following key characteristics of BMI group decision-making managerial cohesion, conflict readiness and information- and emotion-based decision behavior. Third, in contrast to previous literature, we found that individual risk aversion can improve the quality of BMI decisions.
Practical implications
This paper provides managers with an opportunity to become aware of group biases that may impede their strategic BMI decisions. Specifically, it points out that managers should consider the key cognitive constraints due to their interactions when making BMI decisions. This work also highlights the importance of risk-averse decision-makers on boards.
Originality/value
This qualitative study contributes to the literature on decision-making by revealing key cognitive group biases in strategic decision-making. This study also enriches the behavioral science research stream of the BMI literature by attributing a critical influence on the quality of BMI decisions to managers' group interactions. In addition, this article provides new perspectives on managers' risk aversion in strategic decision-making.
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Lars U. Johnson, Cody J. Bok, Tiffany Bisbey and L. A. Witt
Decision-making in human resources management is done at both the micro and macro level of organizations. Unfortunately, the decisions at each level are often executed without…
Abstract
Decision-making in human resources management is done at both the micro and macro level of organizations. Unfortunately, the decisions at each level are often executed without consideration of the other, and current theory reflects this issue. In response to a call for integration of micro- and macro-level processes by Huselid and Becker (2011), we review the extant literature on strategic human resources and high-performance work systems to provide recommendations for both research and practice. We aimed to contribute to the literature by proposing the incorporation of the situation awareness literature into the high-performance work systems framework to encourage the alignment of human resources efforts. In addition, we provide practical recommendations for integrating situation awareness and strategic decision-making. We discuss a process for the employment of situation awareness in organizations that might not only streamline human resources management but also result in more effective decisions. Additional considerations include implications for teams, boundary conditions (e.g., individual differences), and measurement.
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Kevin C. Stagl, Eduardo Salas, Michael A. Rosen, Heather A. Priest, C. Shawn Burke, Gerald F. Goodwin and Joan H. Johnston
Distributed performance arrangements are increasingly used by organizations to structure dyadic and team interactions. Unfortunately, distributed teams are no panacea. This…
Abstract
Distributed performance arrangements are increasingly used by organizations to structure dyadic and team interactions. Unfortunately, distributed teams are no panacea. This chapter reviews some of the advantages and disadvantages associated with the geographical and temporal distribution of team members. An extended discussion of the implications of distributed team performance for individual, team, and organizational decision making is provided, with particular attention paid to selected cultural factors. Best practices and key points are advanced for those stakeholders charged with offsetting the performance decrements in decision making that can result from distribution and culture.
Martha Wilcoxson and Jana Craft
This paper aims to explore the common ethical decision-making challenges faced by financial advisers and how they meet these challenges. The purpose is to identify successful…
Abstract
Purpose
This paper aims to explore the common ethical decision-making challenges faced by financial advisers and how they meet these challenges. The purpose is to identify successful decision-making tools used by investment advisers in doing business ethically. Additionally, the authors uncover common challenges and offer decision-making tools to provide support for supplemental ethics training in the future.
Design/methodology/approach
Questions were analyzed through a qualitative approach using individual interviews to examine a range of experiences and attitudes of active financial advisers. The sample was represented by 11 practicing financial advisers affiliated with US independent broker-dealers: six women and five men, each with 10 or more years of experience, ranging in age from 35 to 75. Grounded in four ethical decision-making models, this research examines individual ethical decision-making using individual (internal, personal) and organizational (external, situational) factors.
Findings
The method used uncovered struggles and revealed strategies used in making ethical decisions. Two research questions were examined: what are the common ethical decision-making challenges faced by financial advisers in the US financial industry? How do financial advisers handle ethical decision-making challenges? Four themes emerged that impacted ethical decision-making: needs of the individual, needs of others, needs of the firm and needs of the marketplace. Financial advisers identified moral obligation, self-control and consulting with others as major considerations when they contemplate difficult decisions.
Research limitations/implications
A limitation of this review is its small sample size. A more robust sample size from investment advisers with a broader range of experiences could have widened the findings from the study.
Practical implications
Investment advisers can use the findings of this study as a tool for improving their own ethical decision-making or designing training for their employees to be better decision-makers.
Originality/value
The study explores the decision-making experiences of investment advisers to reveal multifaceted, often private struggles that qualitative methods can uncover. The study provides support for the development of additional training in ethical decision-making specific to investment advisers.
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David McGuire, Thomas N. Garavan, Sudhir K. Saha and David O'Donnell
This paper explores this relationship between the individual values of managers and human resource (HR) decision‐making.
Abstract
Purpose
This paper explores this relationship between the individual values of managers and human resource (HR) decision‐making.
Design/methodology/approach
Questionnaire data were collected from a total of 340 line managers from both Ireland and Canada. The questionnaire instrument comprises three components: Rokeach's instrumental and terminal values instrument; two HR related decision scenarios; and demographic and human capital data.
Findings
The results provide modest support for the proposed model that individual values affect HR decision‐making in that capability values were shown to be a significant positive predictor of the importance of health and safety, and peace values were a significant positive predictor of the importance of employment equity.
Research limitations/implications
The findings emphasise the need to simultaneously examine both individual values and organisational factors as predictors of HR decision‐making. Future work should examine the psychometric use of value instruments.
Practical implications
The study underlines the fact that managers need to be aware of the fact that their own values influences how they make decisions. Attention to the values concept amongst managers will improve comprehension of the decision‐making process within organizations.
Originality/value
The value of the paper lies in the fact that the effect of individual values on decision‐making has been under‐researched in the literature.
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Shinaj Valangattil Shamsudheen and Saiful Azhar Rosly
The purpose of this paper is to use Ferrell and Gresham (1985) contingency model to examine the impact of situational factors on decision-making behaviour related to ethical…
Abstract
Purpose
The purpose of this paper is to use Ferrell and Gresham (1985) contingency model to examine the impact of situational factors on decision-making behaviour related to ethical issues of Islamic banking practitioners.
Design/methodology/approach
A total of 262 samples are collected from Islamic banking practitioners in the United Arab Emirates (UAE) and data analysis is conducted using structural equation modelling (SEM) with a confirmatory approach.
Findings
The empirical findings indicate that decision-making behaviour related to ethical issues of Islamic banking practitioners is significantly influenced in the process of interacting with persons who are part of the organisation, and these influences are determined by the intra-organisational distance and legitimate authority between the individuals and the focal person. Further, it is also empirically verified that decision-making behaviour related to ethical issues of Islamic banking practitioners is significantly influenced by the presence and/or absence of the opportunity factors such as corporate policies, professional codes of ethics and rewards/punishment system that prevails in the organisation.
Research limitations/implications
Coverage of respondents in this study limited to single country, and the scope is limited to the model that adopted in the study.
Practical implications
It is recommended that respective authorities should have proper control over situational factors (i.e. significant others and opportunity factors) in organisations by encouraging ethical actions so that individuals are learned and influenced by each other and reviewing and improving existing corporate policies, professional codes of ethics and rewards/punishment system that limit the barrier and provide recompenses to the individuals in the organisation.
Originality/value
While the literature has presented the connection between ethics and Islamic banking, they failed to address ethical decision-making in Islamic financial institutions (IFIs). Hence, the empirical findings provide insights towards understanding organisational decision-making behaviour that to enhance governance.
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Nikolina Koporcic, Miika Nietola and John D. Nicholson
The purpose of this paper is to investigate the current industrial marketing and purchasing (IMP) research that has a vague positioning of the bounded rationality of an actor. By…
Abstract
Purpose
The purpose of this paper is to investigate the current industrial marketing and purchasing (IMP) research that has a vague positioning of the bounded rationality of an actor. By borrowing insights from other disciplines, this study aims to develop the IMP approach further by acknowledging the importance of individuals who act and make decisions on behalf of their companies.
Design/methodology/approach
This study is conceptual. By examining the IMP studies in combination with decision-making literature from behavioral economics and psychology, this paper provides a new understanding of the phenomenon in question.
Findings
This study demonstrates that individual decision-making is not as rational as has previously been thought, thus indicating the bounded rationality of the actor. After examining the most common negative emotions that influence the decision-making process, the paper presents a research agenda. It provides a series of research topics and methodological choices for future IMP research endeavors.
Research limitations/implications
As this paper is conceptual, empirical research is needed to examine the role of negative emotions in dynamic decision-making processes.
Practical implications
Managerial implications of this paper are focused on providing instructions for managers on how to deal with negative emotions in dynamic decision-making processes.
Originality/value
To the best of the authors’ knowledge, this paper is one of the first papers that attempts to connect the IMP studies with the dynamics of decision-making by examining negative emotions in the business world.
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