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Article
Publication date: 14 September 2021

Min-Ren Yan, Lin-Ya Hong and Kim Warren

This paper proposes an integrated knowledge visualization and digital twin system for supporting strategic management decisions. The concepts and applications of strategic

Abstract

Purpose

This paper proposes an integrated knowledge visualization and digital twin system for supporting strategic management decisions. The concepts and applications of strategic architecture have been illustrated with a concrete real-world case study and decision rules of using the strategic digital twin management decision system (SDMDS) as a more visualized, adaptive and effective model for decision-making.

Design/methodology/approach

This paper integrates the concepts of mental and computer models and examines a real case's business operations by applying system dynamics modelling and digital technologies. The enterprise digital twin system with displaying real-world data and simulations for future scenarios demonstrates an improved process of strategic decision-making in the digital age.

Findings

The findings reveal that data analytics and the visualized enterprise digital twin system offer better practices for strategic management decisions in the dynamic and constantly changing business world by providing a constant and frequent adjustment on every decision that affects how the business performs over both operational and strategic timescales.

Originality/value

In the digital age and dynamic business environment, the proposed strategic architecture and managerial digital twin system converts the existing conceptual models into an advanced operational model. It can facilitate the development of knowledge visualization and become a more adaptive and effective model for supporting real-time management decision-making by dealing with the complicated dependence of constant flow of data input, output and the feedback loop across business units and boundaries.

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Article
Publication date: 14 July 2021

Esra Saleh Al Dhaen

Strategic decision importance has rarely been investigated as a decision-specific characteristic in the strategic decision-making process (SDMP) literature taking into…

Abstract

Purpose

Strategic decision importance has rarely been investigated as a decision-specific characteristic in the strategic decision-making process (SDMP) literature taking into consideration information management while taking important strategic decisions. Here, the ability of decision importance to predict decision effectiveness as an outcome of SDMPs in higher education institutions (HEIs) is examined in the context of Bahrain.

Design/methodology/approach

A conceptual model is developed relating decision importance to decision effectiveness indirectly via the SDMP characteristics intuition, rationality and decentralization. Data from a cross-sectional questionnaire completed by leaders of HEIs and academics involved in strategic decision-making in Bahrain are used to test the model and hypotheses via correlation analysis. The paper also considers a literature review of the use of information management while taking a strategic decision.

Findings

Decision importance is shown to positively influence decision effectiveness in Bahraini HEIs mediated by rationality and by decentralization in decision-making, although negative effects of decentralization are also demonstrated. However, decision importance does not influence decision effectiveness mediated by intuition.

Research limitations/implications

Due to the small sample size, the results cannot be generalized to contexts beyond HEIs in Bahrain. Additional SDMP characteristics of significance in the context of HEIs could be future investigated, for instance, political behaviour and lateral communication, are not included in the model. Future research exploring the latter two aspects could provide deeper insight into the findings.

Practical implications

The findings of this paper could be considered by HEIs senior management and members of the governing body while strategic decision-making, which could be at different levels, including strategic planning or assessing a strategic decision in terms of effectiveness. This paper will also provide insight one the use of information while considering strategic decision-making.

Social implications

A model leading for effective strategic decision-making could be used by leaders of HEIs and regulators including licensing bodies and QA agencies to set standards for HEIs for sustainable performance and quality education in line with United Nations Sustainable Development Goals and Initiative. Strategic decision-making will have an impact on the overall performance of HEIs and serve all relevant stakeholder’s including parents, students, employers and industry.

Originality/value

Little research conducted in relation to strategic decision-making in the Gulf Cooperation Council therefore, this research will add original findings and the outcome of this study will lead to future research related to SDMP and the use of information management in the overall strategic decision-making.

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Book part
Publication date: 29 July 2009

Lawton R. Burns, Rajiv J. Shah, Frank A. Sloan and Adam C. Powell

Change in ownership among U.S. community hospitals has been frequent and, not surprisingly, remains an important issue for both researchers and public policy makers. In…

Abstract

Change in ownership among U.S. community hospitals has been frequent and, not surprisingly, remains an important issue for both researchers and public policy makers. In the past, investor-owned hospitals were long suspected of pursuing financial over other goals, culminating in several reviews that found few differences between for-profit and nonprofit forms (Gray, 1986; Sloan, 2000; Sloan, Picone, Taylor, & Chou, 2001). Nevertheless, continuing to the present day, several states prohibit investor-ownership of community hospitals. Conversions to investor-ownership are only one of six types of ownership change, however, with relatively less attention paid to the other types (e.g., for-profit to nonprofit, public to nonprofit). This study has two parts. We first review the literature on the various types of ownership conversion among community hospitals. This review includes the rate at which conversions occur over time, the relative frequency in conversions between specific ownership categories and the observed effects of conversion on hospital operations (e.g., strategic direction and decision-making processes) and performance (e.g., access, quality, and cost). Overall, we find that the impact of ownership conversion on the different measures is mixed, with slightly greater evidence for positive effects on hospital efficiency. As one explanation for these findings, we suggest that the impact of ownership conversion on hospital performance may be mediated by changes in the hospital's strategic content and process. Such a hypothesis has not been proposed or examined in the literature. To address this gap, we next study the role of strategic reorientation following hospital conversion in a field study. We conceptualize ownership conversion within a strategic adaptation framework, and then analyze the changes in strategy content and process across sixteen hospitals that have undergone ownership conversions from nonprofit to for-profit, public to for-profit, public to nonprofit, and for-profit to nonprofit. The field study findings delineate the strategic paths and processes implemented by new owners post-conversion. We find remarkable similarity in the content of strategies undertaken but differences in the process of strategic decision making associated with different types of ownership changes. We also find three main performance effects: hospitals change ownership for financial reasons, experience increases in revenues and capital investment post-conversion, and pursue labor force reductions post-conversion. Membership in a multi-hospital system, however, may be a major determinant of both strategy content and decision-making process that is confounded with ownership change. That is, ownership conversion may mask the impact of system membership on a hospital's strategic actions. These findings may explain the pattern of performance effects observed in the literature on ownership conversions.

Details

Biennial Review of Health Care Management: Meso Perspective
Type: Book
ISBN: 978-1-84855-673-7

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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

Keywords

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Article
Publication date: 2 April 2021

Azaddin Salem Khalifa

The confusion over what counts as “strategic” is widely acknowledged to be a problem for both research and practice. The paper aims to develop a robust definition of …

Abstract

Purpose

The confusion over what counts as “strategic” is widely acknowledged to be a problem for both research and practice. The paper aims to develop a robust definition of “strategic decisions” and a classifying tool that distinguishes them from grand tactical, tactical, and other organizational decisions.

Design/methodology/approach

An extensive literature review focused on the leading journals is carried out. Articles having “strategic decision” in the abstract are retrieved from EBSCO Host and ProQuest One Academic databases. Definitions of “strategic decisions” are critically assessed and classified to form the trigger and basis of the development of new definition.

Findings

The literature review identifies five approaches by which strategic decisions are defined, and their limitations are exposed. The proposed definitions of “strategic,” grand tactical, and tactical decisions, and the novel classification tree, used to distinguish those decisions, are shown to be more accurate and robust than those previously offered in the literature.

Originality/value

New definitions of “strategic,” grand tactical, and tactical decisions are offered; and a new classifying tool is developed.

Details

Journal of Strategy and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1755-425X

Keywords

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Article
Publication date: 10 July 2020

Akbar Azam, Fabiola Bertolotti, Cristina Boari and Mian Muhammad Atif

The purpose of this paper is to test whether Top Management Team (TMT) international experience is positively associated to international information acquisition from…

Abstract

Purpose

The purpose of this paper is to test whether Top Management Team (TMT) international experience is positively associated to international information acquisition from managerial international contacts and whether international information partially mediates the positive relationship between TMT international experience and international strategic decision rationality.

Design/methodology/approach

Data were collected through a survey of small- and medium-sized of international Pakistani software firms.

Findings

This study reports that TMT international experience-international strategic decision rationality relationship to international information acquisition and that this information acquisition partially mediates the TMT international experience, i.e. international strategic decision rationality relationship.

Practical implications

When selecting the members of their TMT, international firms should pay careful attention to their international experience.

Originality/value

Previous research demonstrates that TMT international experience has a positive effect on international strategic decision rationality and that this effect is transferred to performance. This study shows that the positive effect of TMT international experience is derived from the personal international knowledge and the international information collected from managers’ international contacts. This ability to make rational international strategic decisions could have a positive effect on decision-making and firm performance.

Details

Review of International Business and Strategy, vol. 30 no. 3
Type: Research Article
ISSN: 2059-6014

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Article
Publication date: 28 September 2021

Sina Kiegler, Torsten Wulf, Niklas Nolzen and Philip Meissner

A large body of research has analyzed individual psychological characteristics as antecedents of strategic decision-making. However, this research has mainly focused on…

Abstract

Purpose

A large body of research has analyzed individual psychological characteristics as antecedents of strategic decision-making. However, this research has mainly focused on trait-based characteristics that explain impaired strategic decision outcomes. Recently, PsyCap has been proposed as an alternative driver of strategic decision outcomes that, in contrast to other drivers, can be influenced by management.

Design/methodology/approach

Drawing on research on psychological capital (PsyCap), a psychological construct conceptualized as a state-like individual strength that is malleable, the authors argue that PsyCap exerts an inverted curvilinear effect on strategic decision outcomes. The authors use a computerized strategic decision simulation involving 102 managers to empirically test our hypotheses.

Findings

The authors show that PsyCap improves strategic decision outcomes up to an inflection point, after which it negatively affects those outcomes. The authors also show that this effect is mediated by heuristic information processing.

Research limitations/implications

For the empirical study the authors relied on a sample of 102 practicing managers from the financial services industry in Germany.

Practical implications

PsyCap has been shown to be malleable through, for instance, micro-interventions and dedicated web-based trainings. Therefore, depending on managers' PsyCap levels, either further increases in PsyCap or a regulation of this characteristic might be appropriate in order to optimize strategic decision outcomes.

Social implications

As a state-like individual strength that is malleable, PsyCap might serve as a management characteristic that is particularly important in challenging situations such as the COVID-19 pandemic.

Originality/value

This paper contributes to research on strategic decision making by introducing PsyCap as an important antecedent of strategic decision outcomes that – in contrast to other individual characteristics – is state-like and, hence, malleable.

Details

Journal of Strategy and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1755-425X

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Article
Publication date: 1 March 2003

Michael A. Roberto

This study explores how top management teams make strategic decisions. The findings indicate that the top management team performs a variety of monitoring and control…

Abstract

This study explores how top management teams make strategic decisions. The findings indicate that the top management team performs a variety of monitoring and control functions within most firms, but that a single team with stable composition does not make strategic choices in most organizations. Instead, different groups, with members from multiple organizational levels, form to make various strategic decisions. A stable subset of the top team forms the core of each of these multiple decision‐making bodies. The findings offer a possible explanation for inconsistent findings in the top management team literature, and suggest several new directions for future senior team research.

Details

Management Decision, vol. 41 no. 2
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 1 April 1998

E. Frank Harrison and Monique A. Pelletier

Strategic decisions represent the most important product of managerial endeavors; and strategic choice is the most critical variable in strategic management. This article…

Abstract

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.

Details

Management Decision, vol. 36 no. 3
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 15 August 2016

Sajjad Haider and Francesca Mariotti

The purpose of this paper is to examine strategic decisions surrounding critical events to show how the decision-making processes evolve and how the dominant logic changes…

Abstract

Purpose

The purpose of this paper is to examine strategic decisions surrounding critical events to show how the decision-making processes evolve and how the dominant logic changes vis-à-vis those decisions. Further, this study explores the processes of managerial decision making focusing on spatial and temporal cognition dimensions.

Design/methodology/approach

The methodology adopted in this study is a case study using the retrospective processual analysis approach. Data were collected using both primary and secondary sources. In all, 40 years of secondary data on key critical events and decision making were collected using a range of secondary sources. Those events were further examined using 49 in-depth semi structured interviews.

Findings

The findings of this study explain the relationship between operant conditions, strategic actions and outcomes of strategic decisions by highlighting the significance of knowledge strategy, strategic agility and intentionality in shaping and reshaping managers’ dominant logic. Further, the authors show that the dominant coalition, among other factors, plays an important role in building decision-making capacity and in the formation and transformation of an existing dominant logic.

Research limitations/implications

The study identified a number of limitations. First, the issue of generalization as the data were collected from only two case study companies. Second, in some cases respondents were asked to respond to research questions using “memory of the events” which took place a long time ago, hence the issue of credibility. Further, sometimes respondents reported information collected through hearsay. To overcome the limitations of this research, the authors made all efforts to ensure that the data collected were reliable and credible such as by using diverse data sources, confirmation of events at multiple level and personal observations.

Practical implications

The study identifies and explains a number of factors which influence decision making. The authors also present the revised dominant logic model which can act as a tool in managerial decision making.

Originality/value

The paper shows how managerial decision making changes knowledge strategy, which in turn leads to changes in existing dominant logic or the creation of a new dominant logic, hence looking at the issues of decision making using an evolutionary perspective. Second, the paper empirically tests and explains the relationship between intentionality, actions and organizational outcomes using spatial and temporal learning. Finally, the use of the longitudinal retrospective processual analysis and events analysis, is a novel way of understanding a particular phenomenon.

Details

Management Decision, vol. 54 no. 7
Type: Research Article
ISSN: 0025-1747

Keywords

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