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Intuition: the missing ingredient for good managerial decision-making

Intuition: the missing ingredient for good managerial decision-making Purpose – This paper aims to clarify the role of intuition in managerial decision making by identifying when intuitive decision making is typically applied, of what value it is for organizations and what inhibits its application. Design/methodology/approach – The authors combine insights from cognitive and social psychology with empirical evidence from a survey study with Austrian organizations. Findings – In conjunction with deliberation, intuitive decision making contributes positively to organizational performance. Its application is moderated by a person’s hierarchical position, organization size as well as the subject at hand. Research limitations/implications – While literature suggests to rely on self-reports to measure success, this approach can also be perceived as a limitation of this paper. Although insiders are most knowledgeable about their organizations, their information might lack objectivity. It is therefore important that future research applies more objective success measures. Practical implications – This research stresses the merits and dangers of intuitive decision making and advises managers how to become “good” intuitive decision makers. Social implications – Understanding the hallmarks of intuitive decision making, as well as the factors that moderate it, alters the understanding of our actions and therefore has implications for all human interactions. Originality/value – This paper adds to existing literature on intuition in management research by providing empirical data regarding the value of intuition and factors that inhibit its application in organizational contexts. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Business Strategy Emerald Publishing

Intuition: the missing ingredient for good managerial decision-making

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References (23)

Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0275-6668
DOI
10.1108/JBS-12-2012-0077
Publisher site
See Article on Publisher Site

Abstract

Purpose – This paper aims to clarify the role of intuition in managerial decision making by identifying when intuitive decision making is typically applied, of what value it is for organizations and what inhibits its application. Design/methodology/approach – The authors combine insights from cognitive and social psychology with empirical evidence from a survey study with Austrian organizations. Findings – In conjunction with deliberation, intuitive decision making contributes positively to organizational performance. Its application is moderated by a person’s hierarchical position, organization size as well as the subject at hand. Research limitations/implications – While literature suggests to rely on self-reports to measure success, this approach can also be perceived as a limitation of this paper. Although insiders are most knowledgeable about their organizations, their information might lack objectivity. It is therefore important that future research applies more objective success measures. Practical implications – This research stresses the merits and dangers of intuitive decision making and advises managers how to become “good” intuitive decision makers. Social implications – Understanding the hallmarks of intuitive decision making, as well as the factors that moderate it, alters the understanding of our actions and therefore has implications for all human interactions. Originality/value – This paper adds to existing literature on intuition in management research by providing empirical data regarding the value of intuition and factors that inhibit its application in organizational contexts.

Journal

Journal of Business StrategyEmerald Publishing

Published: Nov 17, 2014

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