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Article
Publication date: 9 October 2007

Shawnta S. Friday‐Stroud and J. Scott Sutterfield

The purpose of this paper is to present a conceptual framework for merging the strategic management process, the managerial decisionmaking process and the six‐sigma…

Abstract

Purpose

The purpose of this paper is to present a conceptual framework for merging the strategic management process, the managerial decisionmaking process and the six‐sigma process into a single, unified decision model.

Design/methodology/approach

The methodology involves each of the three decisionmaking processes, noting their similarities and differences, and arguing from the similarities that a single unified model will result in superior decisions.

Findings

The findings were that a single, unified model is possible and the resulting model is presented in the paper.

Research limitations/implications

Since this research results in a conceptual model only, it remains to be tested in actual practice. This testing is intended for a later paper.

Practical implications

If the testing of the model in practice results in superior decisions, the practical implications of the paper would be use of the Friday‐Stroud/Sutterfield model in practice for better management decisions.

Originality/value

The paper presents an original model, which results from merging the three‐decisionmaking process.

Details

The TQM Magazine, vol. 19 no. 6
Type: Research Article
ISSN: 0954-478X

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Book part
Publication date: 20 July 2017

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…

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.

Details

Research in Personnel and Human Resources Management
Type: Book
ISBN: 978-1-78714-709-6

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Book part
Publication date: 21 July 2020

Stefan Linder and Johanna Sax

Today, long-term success requires firms to sense changes in their environments early and react efficiently to them. Increasing middle managers’ participation in decision

Abstract

Today, long-term success requires firms to sense changes in their environments early and react efficiently to them. Increasing middle managers’ participation in decision-making about market-related and product-related questions has been suggested as one way of enhancing this strategic responsiveness; abandoning formal planning, such as annual budgets, has been another. Yet, empirical evidence on the matter is scarce and conflicting. Drawing on data from Denmark’s 500 largest firms, we show that participation of middle managers in decision-making about new products and markets to serve, in-deed, increases firms’ strategic responsiveness as assessed by a reduction in firms’ downside risk. However, this effect is not a direct one. Nor does it interact positively or negatively with the emphasis put on formal planning as submitted in literature. Our evidence suggests that emphasis on planning mediates the relation between stronger participation of middle managers in decision-making and the increase in firms’ strategic responsiveness. This has implications for ongoing theory building and practice.

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Adapting to Environmental Challenges: New Research in Strategy and International Business
Type: Book
ISBN: 978-1-83982-477-7

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Book part
Publication date: 5 November 2016

Tatjana V. Kazakova and Daniel Geiger

The way organizations cope with uncertainty in strategic decision making is prominently discussed. Concepts such as heuristics and simple rules are gaining increasing…

Abstract

The way organizations cope with uncertainty in strategic decision making is prominently discussed. Concepts such as heuristics and simple rules are gaining increasing attention in strategic management research. However, despite their importance, little is known how heuristics and simple rules operate. Our qualitative study reveals that, first, strategic decisions consist of three basic elements: single rules, rule patterns, and emotional handling. Second, we find that firms develop generalizable rule patterns which follow a sequential order of inter-linked rules. Based on the findings we introduce the concept of organizational heuristics as inter-linked rule patterns drawing on organizational experience.

Details

Uncertainty and Strategic Decision Making
Type: Book
ISBN: 978-1-78635-170-8

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Article
Publication date: 11 November 2020

Maqsood Ahmad, Syed Zulfiqar Ali Shah and Yasar Abbass

This article aims to clarify the mechanism by which heuristic-driven biases influence the entrepreneurial strategic decision-making in an emerging economy.

Abstract

Purpose

This article aims to clarify the mechanism by which heuristic-driven biases influence the entrepreneurial strategic decision-making in an emerging economy.

Design/methodology/approach

Entrepreneurs' heuristic-driven biases have been measured using a questionnaire, comprising numerous items, including indicators of entrepreneurial strategic decision-making. To examine the relationship between heuristic-driven biases and entrepreneurial strategic decision-making process, a 5-point Likert scale questionnaire has been used to collect data from the sample of 169 entrepreneurs who operate in small- and medium-sized enterprises (SMEs). The collected data were analyzed using SPSS and Amos graphics software. Hypotheses were tested using structural equation modeling (SEM) technique.

Findings

The article provides empirical insights into the relationship between heuristic-driven biases and entrepreneurial strategic decision-making. The results suggest that heuristic-driven biases (anchoring and adjustment, representativeness, availability and overconfidence) have a markedly negative influence on the strategic decisions made by entrepreneurs in emerging markets. It means that heuristic-driven biases can impair the quality of the entrepreneurial strategic decision-making process.

Practical implications

The article encourages entrepreneurs to avoid relying on cognitive heuristics or their feelings when making strategic decisions. It provides awareness and understanding of heuristic-driven biases in entrepreneurial strategic decisions, which could be very useful for business actors such as entrepreneurs, managers and entire organizations. Understanding regarding the role of heuristic-driven biases in entrepreneurial strategic decisions may help entrepreneurs to improve the quality of their decision-making. They can improve the quality of their decision-making by recognizing their behavioral biases and errors of judgment, to which we are all prone, resulting in a more appropriate selection of entrepreneurial opportunities.

Originality/value

The current study is the first to focus on links between heuristic-driven bias and the entrepreneurial strategic decision-making in Pakistan—an emerging economy. This article enhanced the understanding of the role that heuristic-driven bias plays in the entrepreneurial strategic decisions and more importantly, it went some way toward enhancing understanding of behavioral aspects and their influence on entrepreneurial strategic decision-making in an emerging market. It also adds to the literature in the area of entrepreneurial management specifically the role of heuristics in entrepreneurial strategic decision-making; this field is in its initial stage, even in developed countries, while, in developing countries, little work has been done.

Details

Management Decision, vol. 59 no. 3
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 15 June 2020

Fariborz Rahimnia and Homa Molavi

In recent years, rapid changes in the economic situation and high levels of competition have increased the need for innovation in order to gain success. In such…

Abstract

Purpose

In recent years, rapid changes in the economic situation and high levels of competition have increased the need for innovation in order to gain success. In such circumstances, organizational strategists are considered as critical in determining the success or failure of organizations. Using innovation in various aspects of organizational operations is the most important factor to achieve sustainable competitive advantages in industry. As a result, analyzing the effective factors involved in promoting the efficiency of innovative activities in the organization and ways of achieving it are of utmost importance. Thus, this paper examines the relationship between communication and innovation performance with respect to the intermediary role of strategic decision-making process speed.

Design/methodology/approach

The present study has used quantitative methodology and questionnaire to collect data from 450 managers and members who are involved in the decision-making process in 150 companies operating in the food-industry sector. Data analysis was done by using structural equation modeling and AMOS software.

Findings

The results of the data analysis suggest that communication and strategic decision-making speed possess a significant positive impact on innovation performance. Also, strategic decision-making speed has sufficiently played the intermediary role between communication and innovation performance.

Originality/value

This survey specifies the effects of communication on the success of making fast strategic decision and innovation performance which aid Iranian food companies to tackle one of the managerial challenges: postponing strategic decisions due to lack of efficient communication to get information. In addition, to the best of the authors' knowledge, this essay is a first in Iran.

Details

European Journal of Innovation Management, vol. 24 no. 3
Type: Research Article
ISSN: 1460-1060

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Article
Publication date: 9 August 2011

Gail Steptoe‐Warren, Douglas Howat and Ian Hume

The paper seeks to examine both management and psychological literature on strategic decision making.

Abstract

Purpose

The paper seeks to examine both management and psychological literature on strategic decision making.

Design/methodology/approach

A review of the management and psychological literature is undertaken, with particular focus on factors affecting strategic decision making.

Findings

The literature review reveals that managerial cognition as well as individual and corporate values can have an impact on strategic decision making. The review also finds that strategic competencies are important although there is no agreement within the literature on what those competencies are.

Originality/value

Strategic thinking and strategic decision making have been discussed within the psychological and management literature for decades. Psychological and management theoretical perspectives and empirical research have been discussed separately and failed to consider both together. The current paper reviews both psychological and management literature to provide an understanding of the strategic thinking and decision making process and factors that may affect the process.

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Article
Publication date: 1 June 1995

Todd Saxton

Proposes that previous discussions of strategic decision making inthe strategic management literature have not effectively addressed therole of third parties including…

Abstract

Proposes that previous discussions of strategic decision making in the strategic management literature have not effectively addressed the role of third parties including consultants. Offers three roles of third parties, including the consultant as provocateur, legitimizer and expert. Propositions are developed suggesting a contingency approach to the timing and role of third parties in the strategic decisionmaking process.

Details

Journal of Organizational Change Management, vol. 8 no. 3
Type: Research Article
ISSN: 0953-4814

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Article
Publication date: 1 March 1994

Allen C. Amason and David M. Schweiger

Strategic decision making influences organizational performance. However, close examination of this relationship reveals a subtle paradox. It appears that the products of…

Abstract

Strategic decision making influences organizational performance. However, close examination of this relationship reveals a subtle paradox. It appears that the products of strategic decision making, all of which are necessary for enhanced organizational performance, do not peacefully coexist. Conflict seems to be the crux of this conundrum. As such, a better understanding of conflict's effects on strategic decision making is needed This paper integrates a multidimensional conceptualization of conflict Into a model of strategic decision making and organizational performance and develops propositions to guide empirical study of the effects of conflict on strategic decision making.

Details

International Journal of Conflict Management, vol. 5 no. 3
Type: Research Article
ISSN: 1044-4068

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Article
Publication date: 1 February 1996

E. Frank Harrison

Posits that a process perspective on strategic decision making is more likely to yield a successful outcome. Conceives the strategic decisionmaking process as a composite…

Abstract

Posits that a process perspective on strategic decision making is more likely to yield a successful outcome. Conceives the strategic decisionmaking process as a composite of the concept of strategic gap and the managerial decisionmaking 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.

Details

Management Decision, vol. 34 no. 1
Type: Research Article
ISSN: 0025-1747

Keywords

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