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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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

This study aims to explore and clarify the mechanism by which cognitive heuristics influence strategic decision-making during the coronavirus disease 2019 (COVID-19) pandemic in an emerging economy.

Data collection was conducted through a survey completed by 213 top-level managers from firms located in the twin cities of Pakistan. A convenient, purposively sampling technique and snowball method were used for data collection. To examine the relationship between cognitive heuristics and strategic decision-making, hypotheses were tested by using correlation and regression analysis.

The article provides further insights into the relationship between cognitive heuristics and strategic decision-making during the COVID-19 pandemic. The results suggest that cognitive heuristics (under-confidence, self-attribution and disposition effect) have a markedly negative influence on the strategic decision-making during the COVID-19 pandemic in an emerging economy.

The article encourages strategic decision-makers to avoid relying on cognitive heuristics or their feelings when making strategic decisions. It provides awareness and understanding of cognitive heuristics in strategic decision-making, which could be very useful for business actors such as managers and entire organizations. The findings of this study will help academicians, researchers and policymakers of emerging countries. Academicians can formulate new behavioural models that can depict the solutions to dealing with an uncertain situation like COVID-19. Policymakers and strategic decision-making teams can develop crisis management strategies based on concepts from behavioral strategy to better deal with similar circumstances in the future, such as COVID-19.

The paper’s novelty is that the authors have explored the mechanism by which cognitive heuristics influence strategic decision-making during the COVID-19 pandemic in an emerging economy. It adds to the literature in strategic management, explicitly probing the impact of cognitive heuristics on strategic decision-making; this field is in its initial stage, even in developed countries, while little work has been done in emerging countries.

The peer review history for this article is available at https://publons.com/publon/10.1108/IJSE-10-2021-0636.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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

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.

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.

Research on strategic decision‐making has emphasized the importance of team decision‐making as it brings the benefits of synergy. Literature on healthcare is silent on the role of professional doctors in the strategic decision‐making process and their impact on decision outcomes. The purpose of the present paper is to empirically examine the outcomes of decisions when physician executives were involved in strategic decision‐making process in healthcare organizations.

Using a structured survey instrument, this paper gathered data from 361 senior executives from 109 hospitals in USA and analyzed the data using regression techniques on whether the presence of physicians in strategic decision‐making processes enhanced decision quality, commitment, and understanding.

Results showed the presence of professional doctors in the decision‐making process enhances commitment and decision quality in healthcare organizations.

Only the healthcare industry was considered. Self‐report measures may have some inherent social desirability bias.

This study contributes to both practicing managers as well as to strategic management literature. This study suggests that healthcare administrators need to engage physician executives in strategic decision‐making to have successful decision outcomes.

To the extent strategic decision‐making process is similar in other industries, the findings can be generalizable across other industries.

The purpose of this paper is to identify the role of the rationality of the strategic decision‐making process between decision magnitude of impact and the quality of the decision process output.

From analysis of alternative research approaches, a field survey seems to be the most appropriate methodological choice. This is a field study of real strategic decision‐making process rather than an artificial setting. The questionnaire consists of items measuring the variables of primary interest; namely the independent, mediator, and dependent variables. The study was conducted in Pinang, Malaysia, involving small, medium, and large‐sized private manufacturing firms. To test and eliminate ambiguous or biased items and to improve the format, both for ease of understanding and to facilitate data analysis, a pilot study was conducted by computing Cronbach's reliability alpha.

The results of regression analysis indicate that the decision magnitude of impact is significantly associated with the level of rationality in the decision‐making process. The results of hierarchical regression analyses indicate that the extent of rationality in the decision‐making process is able to significantly change the total variations in the decision‐ making quality explained by magnitude of impact.

The complex nature of strategic decision‐making process as a research topic places limitations on this study, particularly in the area of sample selection and data availability and collection. The major sample selection at the manufacturing firms is difficult because a firm's perception in terms of strategic decisions may not be the same, thus it is not easy to ascertain relevant sample characteristics.

Findings of this study indicate that a better quality decision is achieved through a rational process. Thus, organizations should encourage greater use of rationality in the decision‐making process, especially when the decision that is going to be made has more impact on the various parts of the organization or it is a strategic decision.

This study is believed to be the first to test the mediating impact of rationality of the strategic decision‐making process. This study was carried out among Malaysian manufacturing firms, and therefore comparison of its results to the findings in other countries may suggest the influence of other factors such as ideology, belief, and culture on strategic decision‐making processes. This in turn may open up a promising avenue for future research.