Exploring the affect heuristic in Iranian women entrepreneurs

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Pouria Nouri
Keyword(s):  
Decision Making ◽  
Developing Countries ◽  
Narrative Analysis ◽  
Women Entrepreneurs ◽  
Information Overload ◽  
The Body ◽  
Final Decision ◽  
Iranian Women ◽  
Content Type ◽  
Affect Heuristic

PurposeHeuristics are fundamental components of the bounded rationality paradigm and influence entrepreneurs' decisions profusely. On the other hand, the affect heuristic is one of the most important heuristics. The body of knowledge on entrepreneurial heuristics is scattered on the whole and very superficial concerning women entrepreneurs, given that most studies have considered women and men entrepreneurs similar in showing heuristics. The dearth of research is more evident in the context of developing countries. Thus, to fill part of the existing research gaps, this study explores the affect heuristic in Iranian women entrepreneurs.Design/methodology/approachThis paper's data were gathered by conducting face-to-face interviews with 17 novice Iranian women entrepreneurs active in biotechnology, nanotechnology, advanced medicine, aerospace, textile and food sectors and analyzed through a thematic–narrative analysis.FindingsAccording to the results, the main outcomes of the affect heuristic in Iranian women entrepreneurs are delaying the final decision (including an obsession with collecting too much information, overemphasizing the role of negative information and seeking external advice before making a decision), rash decisions (including evaluations based on satisfying decision strategies, too much enthusiasm about one's venture, as well as an optimistic assessment of different scenarios) and serious consideration of quitting (including too much disappointment and anger over discrimination).Practical implicationsBased on this paper's findings, novice women entrepreneurs should be heedful of their fear, which could not only delay their decisions but also paralyze their capability of decision-making. Furthermore, while under circumstances such as information overload and uncertainty, positive feelings like optimism and happiness could be very instrumental by enabling entrepreneurs to shorten the process of their decisions, women entrepreneurs should be very careful about the possible biases resulting from their positive affect.Originality/valueThis study is a pioneer in two respects. First, it explores women entrepreneurs' decision-making heuristics, which is often a neglected area of research. Second, coming to the conclusion that most of the research on women entrepreneurs has been conducted in the Western context, this paper focuses on the context of developing countries by targeting Iranian women entrepreneurs.

That’s why they didn’t let it go: exploring the roots of women entrepreneurs’ escalation of commitment

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Pouria Nouri
Keyword(s):  
Decision Making ◽  
Narrative Analysis ◽  
Small Businesses ◽  
Women Entrepreneurs ◽  
Escalation Of Commitment ◽  
Managerial Implication ◽  
Content Type ◽  
Novel Approach ◽  
Depth Interviews ◽  
Decision Making Biases

Purpose Escalation of commitment is one of the most important decision-making biases among entrepreneurs and may deprive them of valuable resources and even result in their eventual failure. Many entrepreneurs become escalated to their ongoing plans by allocating more resources, even after receiving negative feedbacks regarding those plans. Although the escalating behavior is an inherent part of the entrepreneurial cognition, previous studies have mostly ignored its antecedents among entrepreneurs. This dearth of studies is more severe regarding women entrepreneurs, whose biases have rarely been investigated. Therefore, this paper aims to explore the antecedents of the escalation of commitment among women entrepreneurs. Design/methodology/approach To explore the antecedents of the escalation of commitment in women entrepreneurs’ decisions based on their lived experiences, this paper used a narrative inquiry. The data were collected by conducting in-depth interviews with three Iranian women entrepreneurs running small businesses and analyzed by narrative data analysis. Findings According to the findings, bitter memories of previous failures, overconfidence and familial pressure are the main antecedents of the escalation of commitment in women entrepreneurs. Practical implications This study has a very important managerial implication for women entrepreneurs, who should know that while decision-making biases may occur unintentionally, they are able to reduce the harmful effects and enhance the benefits of biases by knowing their most common signs. Originality/value This study is a pioneer in exploring women entrepreneurs’ biases and took a novel approach by conducting a narrative analysis of women entrepreneurs’ escalation of commitment.

The use and non-use of the government financial report by Maltese Members of Parliament

2018 ◽  
Vol 31 (4) ◽  
pp. 1124-1144 ◽  
Author(s):  
Josette Caruana ◽  
Brady Farrugia
Keyword(s):  
Decision Making ◽  
Information Overload ◽  
Qualitative Interviews ◽  
Financial Reports ◽  
Content Type ◽  
Financial Report ◽  
Members Of Parliament ◽  
The Government ◽  
And Performance ◽  
Questionnaire Research

Purpose The purpose of this paper is to examine the use and non-use of the Government Financial Report by Maltese Members of Parliament (MPs). It refers to information overload theory to analyse the gap between financial reports and their relevance for decision making. Design/methodology/approach A mix of qualitative (interviews) and quantitative (questionnaire) research tools are applied, with the Maltese MPs being the research participants. This method is acclaimed to be comprehensive, but this study highlights certain disadvantages when applied in the political arena. Findings The characteristics of the information itself could be the main cause of information overload, resulting in the non-use of the financial report for decision making. Politicians refer to financial data for their decision making, but not to the data presented in the financial report. Irrespective of the politician’s professional background, the data in the financial report is perceived as incomplete and outdated. Practical implications The cause of information overload and its effects are important considerations for preparers of financial information and accounting standard setters, if they wish that their production is relevant for decision makers. Originality/value There is an increase in research concerning politicians’ use of budgetary and performance information, at local and regional levels of government. This study investigates exclusively the use of the financial report by politicians at central level, in a politically stable environment.

Assessing ventilation strategies in a school with observed indoor air problems

Facilities ◽  
2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ulrika Uotila ◽  
Arto Saari ◽  
Juha-Matti Kalevi Junnonen ◽  
Lari Eskola
Keyword(s):  
Decision Making ◽  
Air Quality ◽  
Indoor Air Quality ◽  
Indoor Air ◽  
Final Decision ◽  
Target Number ◽  
Content Type ◽  
Existing Building ◽  
Ventilation Strategies

Purpose Poor indoor air quality in schools is a worldwide challenge that poses health risks to pupils and teachers. A possible response to this problem is to modify ventilation. Therefore, the purpose of this paper is to pilot a process of generating alternatives for ventilation redesign, in an early project phase, for a school to be refurbished. Here, severe problems in indoor air quality have been found in the school. Design/methodology/approach Ventilation redesign is investigated in a case study of a school, in which four alternative ventilation strategies are generated and evaluated. The analysis is mainly based on the data gathered from project meetings, site visits and the documents provided by ventilation and condition assessment consultants. Findings Four potential strategies to redesign ventilation in the case school are provided for decision-making in refurbishment in the early project phase. Moreover, the research presents several features to be considered when planning the ventilation strategy of an existing school, including the risk of alterations in air pressure through structures; the target number of pupils in classrooms; implementing and operating costs; and the size of the space that ventilation equipment requires. Research limitations/implications As this study focusses on the early project phase, it provides viewpoints to assist decision-making, but the final decision requires still more accurate calculations and simulations. Originality/value This study demonstrates the decision-making process of ventilation redesign of a school with indoor air problems and provides a set of features to be considered. Hence, it may be beneficial for building owners and municipal authorities who are engaged in planning a refurbishment of an existing building.

Being a retailer: narratives not on display

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Damian Ruth ◽  
Frances Gunn ◽  
Jonathan Elms
Keyword(s):  
Decision Making ◽  
Narrative Analysis ◽  
Content Type ◽  
Narrative Approaches ◽  
Actual Nature ◽  
The Everyday ◽  
Business Setting ◽  
Strategy As Practice ◽  
Nuanced Understanding ◽  
Retail Entrepreneurs

PurposeThe purpose of this paper is to explore the everyday tasks and activities undertaken by retailer entrepreneurs and owner/managers when they strategize. Specifically, it interrogates the nature of the intuitive, idiosyncratic strategic agency of a retail owner/manager.Design/methodology/approachThrough adopting a combination of phenomenological and narrative approaches, focussing on illuminating the everyday operational and strategic practices of one retail entrepreneur and owner/manager, a richly contextualized, ideographic account of the procedures and outcomes of their strategizing is provided.FindingsBy revealing narratives that are seldom obvious – often kept behind the counter, and not on display – the authors are able to unravel the social reality of the retailer's decision-making, and the influences of identity, connections with customers and community, emotions and the spirit, and love and family. This study also illuminates how entrepreneurs retrospectively make sense out of the messiness of everyday life particularly when juggling the melding of personal and business realities.Research limitations/implicationsThis paper explores the experiences and reflections of the decision-making of one retail entrepreneur manager within a particular business setting. However, the use of an ideographic approach allowed for an in depth investigation of the realities of strategic practices undertaken by a retail owner that may be extrapolated beyond this immediate context.Originality/valueThis paper develops original insights into the retailer as an individual, vis-à-vis an organization, as well as nuanced understanding of the actual nature of work undertaken by retail entrepreneurs and owner/managers. To this end, this paper contributes to the “strategy-as-practice” debate in the strategic management literature, and to narrative analysis and advances insights to the perennial question: “what is a retailer?”.

Ranking the strategies for Indian medical tourism sector through the integration of SWOT analysis and TOPSIS method

2017 ◽  
Vol 30 (8) ◽  
pp. 668-679 ◽  
Author(s):  
Puneeta Ajmera
Keyword(s):  
Decision Making ◽  
Swot Analysis ◽  
Medical Tourism ◽  
Developed Countries ◽  
Individual Factors ◽  
Final Decision ◽  
Decision Matrix ◽  
Content Type ◽  
Indian Medical ◽  
Multiple Attribute

Purpose Organizations have to evaluate their internal and external environments in this highly competitive world. Strengths, weaknesses, opportunities and threats (SWOT) analysis is a very useful technique which analyzes the strengths, weaknesses, opportunities and threats of an organization for taking strategic decisions and it also provides a foundation for the formulation of strategies. But the drawback of SWOT analysis is that it does not quantify the importance of individual factors affecting the organization and the individual factors are described in brief without weighing them. Because of this reason, SWOT analysis can be integrated with any multiple attribute decision-making (MADM) technique like the technique for order preference by similarity to ideal solution (TOPSIS), analytical hierarchy process, etc., to evaluate the best alternative among the available strategic alternatives. The paper aims to discuss these issues. Design/methodology/approach In this study, SWOT analysis is integrated with a multicriteria decision-making technique called TOPSIS to rank different strategies for Indian medical tourism in order of priority. Findings SO strategy (providing best facilitation and care to the medical tourists at par to developed countries) is the best strategy which matches with the four elements of S, W, O and T of SWOT matrix and 35 strategic indicators. Practical implications This paper proposes a solution based on a combined SWOT analysis and TOPSIS approach to help the organizations to evaluate and select strategies. Originality/value Creating a new technology or administering a new strategy always has some degree of resistance by employees. To minimize resistance, the author has used TOPSIS as it involves group thinking, requiring every manager of the organization to analyze and evaluate different alternatives and average measure of each parameter in final decision matrix.

Modeling bid/no bid decisions using fuzzy fault tree

2018 ◽  
Vol 18 (1) ◽  
pp. 90-108 ◽  
Author(s):  
Mohamed Marzouk ◽  
Emad Mohamed
Keyword(s):  
Fault Tree ◽  
The Body ◽  
Final Decision ◽  
Extensive Literature ◽  
Willingness To Participate ◽  
Tree Model ◽  
Content Type ◽  
Proposed Model ◽  
Multiple Experts ◽  
Two Stages

Purpose Decisions by construction contractors to bid (or not to bid) require the thorough assessment and evaluation of factors relevant to the decision, as well as the quantification of their combined impact, to produce successful bid/no-bid decisions. The purpose of this study is to present a fuzzy fault tree model to assist construction contractors to more efficiently bid for future projects. Design/methodology/Approach The proposed model consist of two stages: first, identification of the factors that affect bidding decision using a questionnaire survey after an extensive literature review, and second, usage of the identified factors to build a fuzzy fault tree model to simulate the bidding decision. Findings A list of 15 factors that affect bid/no-bid decisions was identified. Analysis of factors revealed that the highest-ranking factors were related to financial aspects of the project. A case study is presented to demonstrate the capabilities of the model, and a fuzzy important analysis is performed on the basic events to demonstrate the differences between three contractors’ bid/no-bid decisions. The results reveal that there is variation between the decisions of each contractor based on their willingness to participate. Besides, the influence of evaluation factors on the final decision for each contractor is different. Originality/value The study contributes to the body of knowledge on tendering and bidding practices. The proposed model incorporated the fuzzy set theory, which suits human subjectivity. The proposed methodology overcomes the limitations of previous models as it can, using the linear pool opinion principle, combine and weigh the evaluations of multiple experts. In addition, the model is convenient for situations where historical data are not available.

Decision-making system for higher education university selection: comparison of priorities pre- and post-COVID-19

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Krishnadas Nanath ◽  
Ali Sajjad ◽  
Supriya Kaitheri
Keyword(s):  
Higher Education ◽  
Decision Making ◽  
Higher Education Institutions ◽  
Mode Of Delivery ◽  
Primary Data ◽  
Final Decision ◽  
Content Type ◽  
University Selection ◽  
The University ◽  
The Impact

PurposeUniversity selection in higher education is a complex task for aspirants from a decision-making perspective. This study first aims to understand the essential parameters that affect potential students' choice of higher education institutions. It then aims to explore how these parameters or priorities have changed given the impact of the COVID-19 pandemic. Learning about the differences in priorities for university selection pre- and post-COVID-19 pandemic might help higher education institutions focus on relevant parameters in the post-pandemic era.Design/methodology/approachThis study uses a mixed-method approach, with primary and secondary data (university parameters from the website and LinkedIn Insights). We developed a university selector system by scraping LinkedIn education data of various universities and their alumni records. The final decision-making tool was hosted on the web to collect potential students' responses (primary data). Response data were analyzed via a multicriteria decision-making (MCDM) model. Portal-based data collection was conducted twice to understand the differences in university selection priorities pre- and post-COVID-19 pandemic. A one-way MANOVA was performed to find the differences in priorities related to the university decision-making process pre- and post-COVID-19.FindingsThis study considered eight parameters of the university selection process. MANOVA demonstrated a significant change in decision-making priorities of potential students between the pre- and post-COVID-19 phases. Four out of eight parameters showed significant differences in ranking and priority. Respondents made significant changes in their selection criteria on four parameters: cost (went high), ranking (went low), presence of e-learning mode (went high) and student life (went low).Originality/valueThe current COVID-19 pandemic poses many uncertainties for educational institutions in terms of mode of delivery, student experience, campus life and others. The study sheds light on the differences in priorities resulting from the pandemic. It attempts to show how social priorities change over time and influence the choices students make.

Neuroeconomics as a Factor in the Decision-Making of Women Entrepreneurs in Developing Countries

2021 ◽  
pp. 87-100
Author(s):  
Jovanna Nathalie Cervantes-Guzmán
Keyword(s):  
Decision Making ◽  
Economic Theory ◽  
Developing Countries ◽  
Women Entrepreneurs ◽  
Good Decision ◽  
Behavioral Bias ◽  
Decision Making Models

Neuroeconomics will help solve questions that constitute a good decision, the factors that influence decisions, and how they are made. The study will expose from the experts' opinion the tangible and intangible factors that influence decisions from the perspective of the neuroeconomics. A modified Dephi method that integrates neuroeconomics is used. Neuroeconomics has the potential to explain phenomena that are considered a deviation from the prediction or behavioral bias of decision-making models in economic theory. The study exposes the opinions that have a greater degree of relevance from the experts.

Exploring female entrepreneurs’ marketing decisions with a heuristics and biases approach

2019 ◽  
Vol 34 (8) ◽  
pp. 623-643 ◽  
Author(s):  
Pouria Nouri ◽  
Narges Imanipour ◽  
Abdollah Ahmadikafeshani
Keyword(s):  
Decision Making ◽  
The Body ◽  
Incremental Innovation ◽  
Heuristics And Biases ◽  
Female Entrepreneurs ◽  
Managerial Implication ◽  
Content Type ◽  
Entrepreneurial Marketing ◽  
Positive Effects ◽  
Practical Implications

Purpose This study furthers the body of knowledge on entrepreneurial decision-making, entrepreneurial marketing and female entrepreneurs by exploring practical implications of heuristics and biases in female entrepreneurs’ marketing decisions. Heuristics and biases influence many entrepreneurial decisions. Moreover, some of the most important entrepreneurial decisions are marketing-related. Given that the entrepreneurial marketing behavior emanates from entrepreneurial thinking and decision-making, one may conclude that female entrepreneurs’ marketing decisions are susceptible to heuristics and biases. This paper aims to explore the outcomes of heuristics and biases in entrepreneurial marketing decisions. Design/methodology/approach Data were collected by conducting semi-structured interviews with 19 Iranian female biotech entrepreneurs and analyzed by thematic analysis. Findings The findings indicate that introducing pioneering products to the market, overestimating product’s market appeal, unprepared entry, underestimating the competition, overcoming entry impediments, entry postponement, growth, success in incremental innovation and failure in radical innovation are the main outcomes of the identified heuristics and biases in the female entrepreneurs’ marketing decisions. Practical implications This paper has some precious practical implications for marketers as well as female entrepreneurs running small businesses. Generally speaking, reducing the negative impacts of the identified heuristics and biases of this study while enhancing their positive effects will increase the chances of female entrepreneurs to compete and succeed in tumultuous markets. Furthermore, our most important managerial implication is regarding overconfidence, which was very common in the female entrepreneurs’ marketing decisions by having various positive and negative outcomes. Thus, female entrepreneurs should be careful of this fateful bias in their decisions by knowing the most common signs of overconfidence. Originality/value This paper is unique because of not only identifying the main heuristics and biases but also their major outcomes in entrepreneurs’ major marketing decisions. Moreover, this paper is a pioneer in exploring heuristics and biases in female entrepreneurs’ decisions.

Multi objective optimization for humanitarian logistics operations through the use of mobile technologies

2016 ◽  
Vol 6 (3) ◽  
pp. 399-418 ◽  
Author(s):  
Marco Antonio Serrato-Garcia ◽  
Jaime Mora-Vargas ◽  
Roman Tomas Murillo
Keyword(s):  
Decision Making ◽  
Information System ◽  
Developing Countries ◽  
Multiobjective Optimization ◽  
Mobile Technology ◽  
Optimization Model ◽  
Humanitarian Logistics ◽  
Social Costs ◽  
Content Type ◽  
Deprivation Costs

Purpose The purpose of this paper is to present the development and implementation of a multiobjective optimization model and information system based on mobile technology, to support decision making in humanitarian logistics operations. Design/methodology/approach The trade-off between economic and social (deprivation) costs faced by governmental and nongovernmental organizations (NGOs) involved in humanitarian logistics operations is modeled through a Pareto frontier analysis, which is obtained from a multiobjective optimization model. Such analysis is supported on an information system based on mobile technology. Findings Results show useful managerial insights for decision-makers by considering both economic and social costs associated to humanitarian logistics operations. Such insights include the importance of timely and accurate information shared through mobile technology. Research limitations/implications This research presents a multiobjective approach that considers social costs, which are modeled through deprivation functions. The authors suggest that a future nonlinear approach be also considered, since there will be instances where the deprivation cost is a nonlinear function throughout time. Also, the model and information system developed may not be suitable for other humanitarian aid instances, considering the specific characteristics of the events considered on this research. Practical implications The inclusion of several types of goods, vehicles, collecting points off the ground, distributions points on the ground, available roads after a disaster took place, as well as volume and weight constraints faced under these scenarios, are considered. Social implications Deprivation costs faced by affected population after a disaster took place are considered, which supports decision making in governmental and NGOs involved in humanitarian logistics operations toward welfare of such affected population in developing countries. Originality/value A numerical illustration in the Latin American context is presented, the model and information system developed can be used in other developing countries or regions that face similar challenges toward humanitarian logistics operations.

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