Revisiting the ‘concentration vs spreading debate’: perceived risk and strategic flexibility in decision-making following an unanticipated environmental market disruption

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.

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Emotional Intelligence (EI)

10.4018/978-1-7998-8950-2.ch009 ◽

2022 ◽

pp. 163-172

Keyword(s):

Decision Making ◽

Emotional Intelligence ◽

Emotional State ◽

Team Building ◽

Full Range ◽

Self Management ◽

Strategic Flexibility ◽

Shared Understanding

This chapter evaluates EI research, introduces the concept of engaged interaction, and explains how leaders can use EI for self-improvement. Goleman describes EI as a manager's ability to recognize the emotions in self and others. The manager then uses this information to make improvements in self-management and relationships with others. EI leads people to gain awareness by recognizing personal emotions and the emotions of others. This creates an emotional state of consciousness where people use the information skillfully and intelligently in deliberate, purposeful decision-making activities. The concept of engaged interaction is achieved when all parties participate in flexible, full-range communication, making sure to listen, hear, and understand. This open and flexible communication must continue until interaction and shared understanding are achieved. Leaders can combine EI, engaged interaction, and strategic flexibility to improve operations and team building.

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Examining the Effect of Positive Online Reviews on Consumers' Decision Making

Journal of Global Information Management ◽

10.4018/jgim.2019070109 ◽

2019 ◽

Vol 27 (3) ◽

pp. 159-181 ◽

Cited By ~ 2

Author(s):

Lin Xiao ◽

Yuan Li

Keyword(s):

Decision Making ◽

Perceived Risk ◽

Online Survey ◽

Source Credibility ◽

Online Reviews ◽

Consumer Information ◽

Elaboration Likelihood ◽

Argument Quality ◽

Likelihood Model ◽

Potential Risks

Online reviews play an important role in consumers' decision making. However, limited studies have been conducted to understand the effects of online reviews on consumers' behavior. Drawing upon the Elaboration Likelihood Model and the valence framework, a research model was developed to investigate the perceived benefits and potential risks brought by positive online reviews. The moderating effect of review skepticism was also examined. Data were collected through on online survey based on consumers' perceptions of the positive reviews from restaurants and food businesses and analyzed with partial least squares. The results indicated that argument quality and source credibility influence information usefulness, which further influences consumers' behavioral intentions. The influence of positive online reviews on perceived risk differs between high and low skepticism consumers. This research offers a more in-depth understanding of consumer information processing in an online context and benefits practitioners by allowing them to better understand consumers.

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The Virtual Reality Scenario Method: Moving from Imagination to Immersion in Criminal Decision-making Research

Journal of Research in Crime and Delinquency ◽

10.1177/0022427818819696 ◽

2019 ◽

Vol 56 (3) ◽

pp. 451-480 ◽

Cited By ~ 6

Author(s):

Jean-Louis van Gelder ◽

Reinout E. de Vries ◽

Andrew Demetriou ◽

Iris van Sintemaartensdijk ◽

Tara Donker

Keyword(s):

Decision Making ◽

Virtual Reality ◽

Perceived Risk ◽

Stepwise Regression ◽

Specific Situation ◽

Emotional Experiences ◽

Music Festival ◽

Perceived Realism ◽

Hypothetical Scenario ◽

Scenario Method

Objectives: This study proposes an alternative hypothetical scenario method capitalizing on the potential of virtual reality (VR). Rather than asking participants to imagine themselves in a specific situation, VR perceptually immerses them in it. We hypothesized that experiencing a scenario in VR would increase feelings of being “present” in the situation, and add to perceived realism compared to the written equivalent. This, in turn, was expected to trigger stronger emotional experiences influencing subsequent behavioral intentions. Methods: In an experiment, participants ( N = 153), visitors of a large music festival, either read a “bar fight” scenario or experienced the scenario in VR. Following the scenario, they were presented a series of questions including intention to aggress, perceived risk, anticipated shame/guilt, presence, perceived realism, and anger. Analyses were conducted using analysis of variance, stepwise regression, and mediation analysis using nonparametric bootstrapping. Results: In line with expectations, the results indicate significant differences between conditions with the VR scenario triggering stronger presence, higher realism, and higher intention to aggress. Importantly, presence and anger mediated the relation between condition and intention to aggress. Conclusions: We show that the VR scenario method may provide benefits over written scenarios for the study of criminal decision-making. Implications are discussed.

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233 Potential Deprivation of Patient Liberty: A Qualitative Study of Current Practice Amongst Geriatricians in a Tertiary Setting

Age and Ageing ◽

10.1093/ageing/afz103.140 ◽

2019 ◽

Vol 48 (Supplement_3) ◽

pp. iii17-iii65

Author(s):

Michelle O'Brien ◽

Deirdre O'Donnell ◽

Barbara Clyne

Keyword(s):

Decision Making ◽

Perceived Risk ◽

Current Practice ◽

Structured Interview ◽

Structured Interviews ◽

Healthcare Ethics ◽

Patient Decision Making ◽

Acute Setting ◽

Difficult Decision ◽

Patient Decision

Abstract Background The Assisted Decision Making (ADM) Act 2015 was introduced to support decision making and maximise a person’s capacity to make decisions but has not yet commenced. Within this context, medical professionals such as geriatricians must adjust from a best interest’s outlook to that of patient autonomy in response to the changing legislation. The aim of this study is to explore current geriatrician’s practice. In scrutinizing current practice, it will be evident as to what, if any, adaptations are required in order to practice in accordance with the new legislation. Methods Ten semi-structured interviews with individual consultant geriatricians were conducted, each lasting approximately 20 minutes on average in one hospital. Each interview was recorded and transcribed verbatim. The interview involved the geriatrician reading a vignette and answering questions as to how they would manage this situation. Following the vignette, the semi-structured interview proceeded covering topics including; patient decision making in the acute setting, deprivation of patient liberty in the acute setting, thoughts on the ADM (Capacity) Act 2015, and elements learned from experiences in other countries. A thematic analysis was conducted. Results Preliminary themes identified from the interviews include; (a) identification, accessibility and availability of medical and legal colleagues in assisting with difficult decision making, (b) need for clear frameworks, guidance and education in relation to laws applying to medical practice, (c) influence of environment, family, perceived risk and delirium on capacity assessment, (d) paternalism versus autonomy. This work is being conducted as part of a master’s in healthcare ethics and law. Conclusion Preliminary results highlight the need for collaborative communication between medics and the legal profession in order to achieve a structured and supportive framework to inform practice considering the new legislation.

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Risk-Reduction Processes in Repetitive Consumer Behavior

Journal of Marketing Research ◽

10.1177/002224376800500311 ◽

1968 ◽

Vol 5 (3) ◽

pp. 307-310 ◽

Cited By ~ 44

Author(s):

Jagdish N. Sheth ◽

M. Venkatesan

Keyword(s):

Decision Making ◽

Experimental Study ◽

Risk Reduction ◽

Brand Loyalty ◽

Information Seeking ◽

Perceived Risk ◽

Risk Groups ◽

Consumer Decision Making ◽

Reduction Processes ◽

Over Time

This experimental study of consumer decision making over time explored risk-reduction processes of information seeking, prepurchase deliberation, and brand loyalty. Perceived risk was manipulated by creating low-risk and high-risk groups. The task was to choose among brands of hair spray. Results showed that information seeking and prepurchase deliberation declined over time and brand loyalty increased over time.

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Influence of Emotions on the Acceptance of an Oil Drilling Project

Environment and Behavior ◽

10.1177/0013916517701795 ◽

2017 ◽

Vol 50 (3) ◽

pp. 324-349 ◽

Cited By ~ 2

Author(s):

Cristina Ruiz ◽

Rosario Marrero ◽

Bernardo Hernández

Keyword(s):

Decision Making ◽

Procedural Justice ◽

Perceived Risk ◽

Structural Equation ◽

Local Community ◽

Negative Emotions ◽

Final Decision ◽

Perceived Benefits ◽

Oil Drilling ◽

Drilling Project

In 2014, the Canary Islands were exposed to a decision-making process for an oil drilling project 80 kilometers offshore. Whereas the national government was in favor of oil drilling, the local government was against it because of the environmental impact, and the effect on tourism and the coastal ecosystem. In this study, we analyze the reactions of the local community to this project by connecting beliefs, perceived benefits, perceived risk, procedural justice, negative emotions, and acceptance through a tested structural equation model. The results showed that acceptance was essentially explained by perceived benefits and negative emotions, whereas perceived benefits and procedural justice predicted negative emotions. Several differences between males and females were found. These results are discussed in relation to the importance of understanding the effects and emotional reactions of this type of project on the population before the final decision making.

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Risk Classification Systems and the Provision of Juvenile Aftercare

Crime & Delinquency ◽

10.1177/0011128793039001006 ◽

1993 ◽

Vol 39 (1) ◽

pp. 90-105 ◽

Cited By ~ 17

Author(s):

James R. Maupin

Keyword(s):

Decision Making ◽

Random Sample ◽

Perceived Risk ◽

Risk Classification ◽

Classification Systems ◽

Street Level ◽

Parole Officers ◽

Classification Score ◽

Street Level Bureaucrats ◽

Juvenile Parole

Juvenile aftercare decision-making systems that classify parolees according to perceived risk and needs are designed to render uniform the treatment of these individuals by juvenile parole officials. This article analyzes a system implemented by Arizona to determine if the intensity of supervision received by parolees differs as a function of classification score. Supervision of a random sample of 280 parolees was tracked for 90 days. The analysis indicates that intensity of supervision does not differ based on the classification score, suggesting that the instrument does not control the decision making of the street-level bureaucrats, the parole officers.

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METACOGNITIVE DECISION MAKING IN OIL SPILL RESPONSE-BEHAVIORAL BIAS IN RELATION TO PERCEIVED RISK

International Oil Spill Conference Proceedings ◽

10.7901/2169-3358-2017.1.1453 ◽

2017 ◽

Vol 2017 (1) ◽

pp. 1453-1470

Author(s):

LT Christopher M. Kimrey

Keyword(s):

Decision Making ◽

Oil Spill ◽

Homeland Security ◽

Perceived Risk ◽

Oil Spills ◽

Coast Guard ◽

Sense Making ◽

Self Awareness ◽

Behavioral Bias ◽

Oil Spill Response

ABSTRACT 2017-205 Catastrophic events like Deepwater Horizon, Exxon Valdez, major hurricanes, and other such anomalies have a tendency to overwhelm the initial crisis management leadership due to the chaotic nature of the event. The inability to quickly and accurately make critical assessments about the magnitude and complexity of the emerging catastrophe can spell disaster for crisis managers long before the response ever truly takes shape. This paper argues for the application of metacognitive models for sense and decision-making. Rather than providing tools and checklists as a recipe for success, this paper endeavors to provide awareness of the cognitive processes and heuristics that tend to emerge in crises including major oil spills, making emergency managers aware of their existence and potential impacts. Awareness, we argue, leads to recognition and self-awareness of key behavioral patterns and biases. The skill of metacognition—thinking about thinking—is what we endeavor to build through this work. Using a literature review and cogent application to oil spill response, this paper reviews contemporary theories on metacognition and sense-making, as well as concepts of behavioral bias and risk perception in catastrophic environments. When catastrophe occurs—and history has proven they will—the incident itself and the external pressures of its perceived management arguably emerge simultaneously, but not necessarily in tandem with one another. Previous spills have demonstrated how a mismanaged incident can result in an unwieldy and caustic confluence of external forces. This paper provides an awareness of biases that lead to mismanagement and apply for the first time a summary of concepts of sense-making and metacognition to major oil spill response. The views and ideas expressed in this paper are those of the author and do not necessarily reflect the views of the U.S. Coast Guard or Department of Homeland Security.

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