scholarly journals Risk-Specific Search for Risk-Defusing Operators

2008 ◽  
Vol 67 (1) ◽  
pp. 29-40 ◽  
Author(s):  
Martina Wilke ◽  
Heike Haug ◽  
Joachim Funke
Keyword(s):  
Decision Making ◽  
Information Search ◽  
Classification Criteria ◽  
Decision Makers ◽  
Health Economy ◽  
Thinking Aloud ◽  
Normal Medium ◽  
Formal Classification ◽  
Decision Making Processes ◽  
Specific Search

Active risk-defusing behavior is that performed by decision makers in risky situations when they look for additional actions that decrease the risk and allow them to favor a riskier alternative. Our study demonstrates that risk-defusing behavior depends on the type of risk (normal, medium, catastrophic, or global) as well as on the domain (health, economy, or ecology). In total, 12 scenarios (four types of risk from three risk domains each) were constructed. Using the interview techniques of active information search and thinking aloud, we conducted 120 interviews about decision-making processes with these scenarios. The results showed that active search for different risk-defusing operators depends on the type of risk, but even more on the domain of the scenario. Results suggest a need for further research about a typology of risk situations in which, besides formal classification criteria, content issues are also explored.

scholarly journals Subjective Knowledge, Perceived Risk, and Information Search when Purchasing a Franchise: A Comparative Exploration from Australia

2021 ◽  
Vol 14 (8) ◽  
pp. 338
Author(s):  
Peter Balsarini ◽  
Claire Lambert ◽  
Maria M. Ryan ◽  
Martin MacCarthy
Keyword(s):  
Decision Making ◽  
Information Search ◽  
Perceived Risk ◽  
Traditional Approach ◽  
Growth Strategy ◽  
Local Market ◽  
Significant Information ◽  
Subjective Knowledge ◽  
Decision Making Processes ◽  
The Relationship

Franchising has long been a method by which organizations seek to expand and facilitate local market development. However, franchising as a growth strategy can often be hampered by lack of suitable franchisees. To mitigate this shortage, some franchisors have engaged in recruiting franchisees internally from the ranks of their employees in addition to the traditional approach of recruiting franchisees externally. Predominantly franchisees are individuals rather than corporations and thus purchasing a franchise should most commonly be characterized as a consumer acquisition. To explore the relationship between subjective knowledge, perceived risk, and information search behaviors when purchasing a franchise qualitative interviews were conducted with franchisees from the restaurant industry. Half of these respondents were externally recruited having never worked for the franchisor and half were internally recruited having previously been employees of the franchisor. The external recruits expressed a strong desire to own their own business and engaged in extensive decision-making processes with significant information search when purchasing their franchises. Contrastingly, the internal recruits expressed a strong desire to be their own boss and engaged in limited, bordering on habitual decision-making processes with negligible information search when acquiring their franchises. The results reveal that differences in subjective knowledge and perceived risk appear to significantly impact the extent of information search between these two groups. A model of the relationship between subjective knowledge, perceived risk and information search in the purchasing of a franchise is developed that reconciles these findings. The findings also have practical implications for franchisors’ franchisee recruiting efforts which are integral to their capacity to develop local markets.

Framing Information Technology Governance in the Public Sector: Opportunities and Challenges

2015 ◽  
Vol 11 (4) ◽  
pp. 89-101 ◽  
Author(s):  
Khalifa Al-Farsi ◽  
Ramzi EL Haddadeh
Keyword(s):  
Decision Making ◽  
Information Technology ◽  
Public Sector ◽  
It Governance ◽  
Decision Makers ◽  
The Public ◽  
Technology Governance ◽  
Support Organizations ◽  
Information Technology Governance ◽  
Decision Making Processes

Information technology governance is considered one of the innovative practices that can provide support for decision-makers. Interestingly, it has become increasingly a de facto for organizations in seeking to optimise their performance. In principle, information technology governance has emerged to support organizations in the integration of information technology (IT) infrastructures and the delivery of high-quality services. On the other hand, decision-making processes in public sector organisations can be multi-faceted and complex, and decision makers play an important role in implementing technology in the public sector. The aim of this paper is to shed some light on current opportunities and challenges that IT governance is experiencing in the context of public sector services. In this respect, this paper examines the factors influencing the decision-making process to fully appreciate IT governance. Furthermore, this study focuses on combining institutional and individual perspectives to explain how individuals can take decisions in response to institutional influences.

Activity-Based Methodology for Development and Analysis of Integrated DoD Architectures

2007 ◽  
pp. 85-113 ◽  
Author(s):  
S. Ring
Keyword(s):  
Decision Making ◽  
Decision Makers ◽  
Process Models ◽  
Fully Integrated ◽  
The Core ◽  
Analysis Strategies ◽  
Decision Making Processes ◽  
Integrated Architecture ◽  
Architecture Development ◽  
Support Decision Making

This chapter describes the activity-based methodology (ABM), an efficient and effective approach to-ward development and analysis of DoD integrated architectures that will enable them to align with and fully support decision-making processes and mission outcomes. ABM consists of a tool-independent disciplined approach to developing fully integrated, unambiguous, and consistent DODAF Operational, System, and Technical views in supporting both “as-is” architectures (where all current elements are known) and “to-be” architectures (where not all future elements are known). ABM enables architects to concentrate on the Art and Science of architectures—that is identifying core architecture elements, their views, how they are related together, and the resulting analysis used for decision-making purposes. ABM delivers significant architecture development productivity and quality gains by generating several DoDAF products and their elements from the core architecture elements. ABM facilitates the transition from integrated “static” architectures to executable “dynamic” process models for time-dependent assessments of complex operations and resource usage. Workflow steps for creating integrated architecture are detailed. Numerous architecture analysis strategies are presented that show the value of integrated architectures to decision makers and mission outcomes.

scholarly journals The Influence of Core Self-Evaluations on Group Decision Making Processes: A Laboratory Experiment

2020 ◽  
Vol 10 (2) ◽  
pp. 29 ◽  
Author(s):  
Matteo Cristofaro ◽  
Pier Luigi Giardino ◽  
Luna Leoni
Keyword(s):  
Decision Making ◽  
Research Question ◽  
Decision Makers ◽  
Simulation Game ◽  
Manufacturing Firm ◽  
Decision Making Processes ◽  
Team Decision ◽  
High Level ◽  
Overconfidence Bias ◽  
Core Self

The personal trait called Core Self-Evaluations (CSE) has been receiving increasing attention from behavioral strategy scholars due to its ability to predict job performance and to explain some facets of decision-making processes. However, despite previous studies hypothesizing that managers with high values of CSE are intuitive thinkers, beyond any doubt of their capacities and that they significantly lead to positive results for their organization, no one has empirically investigated these assumptions. This gap can be substantiated by the following research question: “How do high Core Self-Evaluations influence team decision-making processes?”. Answering it provides insights on how the evaluations that decision makers make about situations (and the consequent actions that are implemented) highly depend on decision makers’ inner traits and their effect on cognition. To fill this gap, 120 graduate students—divided into groups of four—took part in a simulation game and were asked to make decisions acting the role of General Manager of a small-sized manufacturing firm. Tests aimed at identifying the CSE and intuitive/reflecting thinking approach of participants were administered; moreover, the performance resulting from their decision-making processes and their estimation of reached results were collected. Results show that an average level of CSE is preferable to balance intuitive and reflective thinking, as well as avoiding overconfidence bias and reaching the best performance possible. This work suggests that there is a huge misattribution in considering a high level of CSE as being beneficial for decision-making processes and consequent performance.

The views and perceptions of managers on the role of marketing research in decision making

2018 ◽  
Vol 60 (1) ◽  
pp. 67-87 ◽  
Author(s):  
Piotr Tarka
Keyword(s):  
Decision Making ◽  
Marketing Research ◽  
Decision Makers ◽  
Irrational Thinking ◽  
Analytical Thinking ◽  
Making Choices ◽  
Decision Making Processes ◽  
Specific Factors ◽  
Views And Perceptions

In this article, the author conducts an empirical diagnosis of managers’ views and perceptions in the context of use of information obtained from marketing research in decision-making processes. It is argued that decision makers who take charge of management, despite their strong declarations and beliefs about the potential and usefulness of information in decisions, in reality prefer solutions based on intuition and irrational thinking. Therefore, the objective of the conducted study is to explore mechanisms of such paradoxes. However, through empirical research, the author endeavored to find the answers associated with the specific factors that are likely to favor such an unreasonable thinking and activities undertaken by managers in decision-making processes. Based on the sample ( N = 213), which contained mainly information users, it was confirmed that managers, faced with a difficulty of information processing (e.g., due to information overloading problems and requirements of analytical thinking), or narrow cognitive capacities, limited memory, and strong reliance on personal experience, look for much simpler solutions in decision making. They preferably move toward the irrational sphere of making choices. Thus, the information, obtained from research, that is available to managers is rather neglected instead of being closely inspected (scrutinized). Moreover, the greater the surprise in information derived from marketing research (i.e., the wider is the discrepancy between the value of information provided by analysts and managers’ expectations), the greater their inclination to reject any information and much greater exposure toward irrational thinking in decision making. As a matter of fact, the problems associated with information adaptation in decisions, as well as the problems of analytical thinking, put the question mark over the entire usefulness of information and further deliberate conducting of the marketing research.

scholarly journals Orthogonal strategy based computer-mediated negotiation: Principles and example

2018 ◽  
Vol 46 (6) ◽  
pp. 1036-1060
Author(s):  
Cahyono Susetyo ◽  
Harry Timmermans ◽  
Bauke de Vries
Keyword(s):  
Decision Making ◽  
Computer System ◽  
Indifference Curve ◽  
Decision Makers ◽  
Second Phase ◽  
Face Negotiation ◽  
Computer Mediated ◽  
Decision Making Processes ◽  
Multi Stakeholder ◽  
Optimum Solution

Previous efforts to improve stakeholders’ involvement in planning and decision-making processes mostly put planners and decision makers as the ones who decide which solution is the best for the decision problems. In bottom-up planning and decision-making processes that supposedly involve stakeholders as much as possible, the most common practice is that when stakeholders have different preferences about the decision issues, supra decision makers such as planners and experts gather stakeholders’ preferences, and then, using their expertise and experience, decide what is the best choice for stakeholders. We approach the involvement of stakeholders in planning and decision-making not by relying on planners’ expertise but from a negotiation perspective. Previous works related to stakeholders’ negotiation mostly require stakeholders to engage in a face-to-face negotiation that seldom involves a computer system to improve the process. In this paper, we develop a negotiation system to support multi-issue and multi-stakeholder decision-making problems. In our approach, stakeholders do not directly interact with each other. Their proposals are submitted to a system that produces counter-proposals to reduce the differences among stakeholders’ proposals. Therefore, stakeholders do not exchange their preferences directly, but rather preference elicitations are mediated by the system. This approach is called computer-mediated negotiation. The system itself is based on the principle of an orthogonal strategy. Our computer-mediated negotiation protocol consists of two main phases. The first phase is the preference elicitation phase, which measures stakeholders’ utility functions. The second phase is the e-negotiation phase, in which stakeholders make their proposals and the computer system provides suggestions to improve them. To simulate real-world negotiations where stakeholders make proposals and counter-proposals in a series of negotiation rounds, we implemented the indifference curve approach to enable stakeholders to make incremental changes of their proposals during negotiation. The results from our experiment suggest that our method can produce an optimum solution for a multi-issue and multi-stakeholder decision problem by moving stakeholders’ proposals closer to one another.

Developing Management Systems for Statewide Transportation Planning: Early Lessons

1996 ◽  
Vol 1552 (1) ◽  
pp. 66-70 ◽  
Author(s):  
Steven J. Kish ◽  
Michael D. Meyer
Keyword(s):  
Decision Making ◽  
Public Transportation ◽  
Implementation Strategy ◽  
Information Needs ◽  
Decision Makers ◽  
Management Systems ◽  
Department Of Transportation ◽  
Transportation Management ◽  
Organizational Planning ◽  
Decision Making Processes

The implementation of two management systems, the intermodal and public transportation management systems, in the Georgia Department of Transportation is examined. Early experience with this implementation suggests that key elements of an implementation strategy are characteristic of success in such an organizational environment. These include establishing organizational responsibilities, establishing guidance principles, assessing the organizational planning and decision-making processes, assessing the environmental context for the management system, establishing an implementation strategy that has tangible intermediate results, and identifying an agency “champion” for implementation. The challenge of implementing management systems within any organization is understanding the decision-making process and the information needs of the agency decision makers.

A multicriteria assessment model for countries’ degree of preparedness for successful impact investing

2019 ◽  
Vol 58 (11) ◽  
pp. 2455-2471
Author(s):  
Teresa León ◽  
Vicente Liern ◽  
Blanca Pérez-Gladish
Keyword(s):  
Decision Making ◽  
Political Stability ◽  
Developed Countries ◽  
Multiple Criteria ◽  
Decision Makers ◽  
Less Developed Countries ◽  
Impact Investing ◽  
Content Type ◽  
Financial Decisions ◽  
Decision Making Processes

Purpose In recent years there has been a significant acceleration in the market growth of social impact investing. Policy makers, regulatory bodies and national decision-makers should base their decision-making processes on multiple criteria. These criteria are, by nature, imprecise, ambiguous and uncertain. The purpose of this paper is to provide decision-makers with a mathematical tool which aids them in their decision-making processes identifying the degree of appropriateness of less developed countries in terms of potential success of investment in vaccination campaigns. Design/methodology/approach In this work, the authors have developed a decision-making tool within the framework of multiple criteria decision making and Fuzzy Logic, which aims to aid decision-makers for vaccinations campaigns in less developed countries. In particular, the authors have proposed a Technique for Order Preference by Similarity to Ideal Solution-based method which is able to work in fuzzy environment in order to assess and rank countries based on their fuzzy degree of appropriateness for impact investing in vaccines. Findings The impact investing market provides capital from private sources to address many pressing global challenges such as access to basic services as health. Governments have, therefore, an essential role in supporting the development of this market by improving the risk/return profile of investments through access to credit facilities, tax credits or subsidies or defining the regulation of the supply of investments, provision of technical assistance to investing private companies and co-financing. The proposed framework permits funding decision making taking into account the degree of preparedness and adequacy for impact investing in vaccines of the selected countries. Research limitations/implications Impact investing can play a key role in the reduction of immunization gap offering suitable strategies for both, governments and private investors for the achievement of United Nations Sustainable Development Goals (SDGs). However, in order to make good financial decisions managers should take into account not only health, income, education and other social criteria but also the degree of basic preparedness of the countries in order to ensure the success of the immunization campaigns which means taking into account availability of basic infrastructures, access to electricity, political stability among other criteria. Practical implications However, in order to make good financial decisions managers should take into account not only health, income, education and other social criteria but also the degree of basic preparedness of the countries in order to ensure the success of the immunization campaigns which means taking into account availability of basic infrastructures, access to electricity, political stability among other criteria. Originality/value The proposed model will allow public and private decision makers to make better investment decisions in terms of effectiveness as the provided ranking of countries candidates for the investments is more realistic and takes into account more decision dimensions.

Small Business Commercial Loan Selection Decision: An Empirical Evaluation

1982 ◽  
Vol 6 (4) ◽  
pp. 41-49 ◽  
Author(s):  
Nathaniel Jones
Keyword(s):  
Decision Making ◽  
Small Business ◽  
Small Businesses ◽  
Commercial Banks ◽  
Empirical Evaluation ◽  
Decision Makers ◽  
Selection Decisions ◽  
New Business ◽  
Decision Making Processes ◽  
Selection Decision

For many years, bank decision-makers and academic researchers have recognized the significance of both commercial banks and small businesses to the overall economy of America. However, there appears to be little, if any, statistically valid empirical research dealing with the decision-making processes in commercial banks which commit funds to small businesses. This article deals specifically with the decision-making process of 30 commercial loan decision-makers as they are faced with commercial loan selection decisions concerning Small Business (SBA guaranteed) new business loans.

Decision Making Processes in Risky and Non-Risky Consumer Product Selection

1995 ◽  
Vol 39 (5) ◽  
pp. 356-360
Author(s):  
Cassie B. Barlow ◽  
Amy J. Hammond
Keyword(s):  
Decision Making ◽  
Oral Contraceptive ◽  
Information Search ◽  
Health Care Professionals ◽  
Information Acquisition ◽  
Gambling Behavior ◽  
Consumer Product ◽  
Product Selection ◽  
Decision Making Processes ◽  
Decision Tasks

Decision making in the domain of risk has traditionally been studied by examining gambling behavior. The control of outcome probabilities obtained in these paradigms masks much of the subjective nature of everyday risk decision choices, such as product selection and information search patterns. A study was undertaken to examine decision making processes in Risky and NonRisky consumer product decision tasks. Subjects completed two Information Display Board (IDB) decision tasks, one selecting a Risky consumer product (oral contraceptive) and one selecting a NonRisky consumer product (toothpaste). The results supported the hypotheses that consumers view the decisions to purchase risky and non-risky products differently and use different patterns of information acquisition in making decisions in the selection of these products. Few anticipated differences were found between Experienced and NonExperienced users of oral contraceptives in information acquisition. Implications for health care professionals providing oral contraceptive information to patients are discussed.

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