Entrepreneurial decision-making: new conceptual perspectives

2019 ◽  
Vol 58 (7) ◽  
pp. 1283-1300 ◽  
Author(s):  
Kaylee De Winnaar ◽  
Frances Scholtz
Keyword(s):  
Decision Making ◽  
Business Environment ◽  
Theory And Practice ◽  
Future Research ◽  
Conceptual Approach ◽  
Content Type ◽  
Business Environments ◽  
Theoretical Perspectives ◽  
Decision Making Processes ◽  
Entrepreneurial Decision

Purpose The purpose of this paper is to call for inclusion of alternative but complementary conceptual perspectives in entrepreneurial decision-making theory and practice. Design/methodology/approach A conceptual approach, drawing on two sets of theoretical perspectives relating to decision making of entrepreneurs, is adopted. Findings The paper presents a conceptual framework of entrepreneurial decision making utilising the intersection between a metacognitive model of the entrepreneurial mindset and the recognition-primed decision-making theory. The paper argues that the convergence of these theoretical viewpoints provides a selection of decision-making processes for entrepreneurs in an uncertain business environment. Practical implications Decision-making models and tools are available to entrepreneurs; however, the relevance and applicability are restrained by the complexity and uncertainty of business environments in which entrepreneurs operate. New and more inclusive conceptual perspectives are required to improve the accuracy of decision making. Originality/value The study offers a framework that integrates two diverse theoretical dimensions of entrepreneurial decision making. The findings of this study provide direction for practice and for future research on entrepreneurial decision making. The paper intends to encourage researchers to support a new combined theoretical approach and to help practitioners better understand the reasons for entrepreneurial decision failure.

scholarly journals Entrepreneurial decision-making for global strategies: a “heart–head” approach

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Clara Benevolo ◽  
Lara Penco ◽  
Teresina Torre
Keyword(s):  
Decision Making ◽  
Global Environment ◽  
Integrated Analysis ◽  
Conceptual Approach ◽  
Global Marketplace ◽  
Implementation Framework ◽  
Content Type ◽  
Theoretical Perspectives ◽  
Entrepreneurial Decision ◽  
Global Strategies

PurposeThe purpose of this study is to build a proposal for an integrated analysis / evaluation / decision / implementation framework to suit entrepreneurial companies intending to redefine their strategic behaviours and their competitive schemes in the global environment.Design/methodology/approachA conceptual approach, based on theoretical perspectives relating to globalisation-based management and decision-making of entrepreneurs, is adopted.FindingsThe paper presents a conceptual framework useful for supporting entrepreneurial decisions for global strategies, drawing on an integrated analysis of external environment and internal components, with a specific focus on the entrepreneur's characteristics in terms of cognitive and emotional profiles. It is suggested to adopt a logical process aimed at identifying which strategic levers are available for entrepreneurial players to implement their strategies.Practical implicationsEntrepreneurial decision-making may benefit from an integrated framework which helps entrepreneurs, who aim to compete in the global marketplace, to explore and exploit all the key factors useful to defining their strategies.Originality/valueThere is a lack of decision-making frameworks that put the entrepreneur at the centre and, at the same time, present a potential balance between the external factors (globalisation drivers and local opportunities) and the resources and competences required to manage risks and difficulties of the global environment (internal factors). The originality of the proposed framework consists in filling this gap. Moreover, this framework can be useful for “re-born global” or “global-again” firms that are currently a neglected typology of studied firms.

scholarly journals An analysis of systemic thinking in decision-making processes in the municipalities within the province of KwaZulu-Natal

2015 ◽  
Vol 4 (4) ◽  
pp. 531-547
Author(s):  
Mbuyiseni Goodlife Ntuli ◽  
Lawrence Mpela Lekhanya
Keyword(s):  
Decision Making ◽  
Process Model ◽  
Business Environment ◽  
Rational Decision ◽  
Systemic Thinking ◽  
Rational Decision Making ◽  
Theoretical Perspectives ◽  
Kwazulu Natal ◽  
Decision Making Processes ◽  
Decision Making Model

This paper advocates the adoption of systemic thinking in decision-making processes in municipalities. Most importantly, in this epoch of managing in complex and thought-provoking business environment, decision making is one of the most important skills required by any manager to remain effective. The success of a municipality or any business hinges on how well decisions are taken and implemented. In this paper, I intend to scrutinize decision making processes at strategic management levels in the municipalities within the province of KwaZulu-Natal. In doing that, a mixed method approach of qualitative and quantitative techniques was adopted in gathering data from sixty-one municipalities within the province of KwaZulu-Natal. This was done in order to substantiate theoretical perspectives from different erudite scholars on the discourse of systemic thinking in decision making processes. This notion of systemic thinking is coined upon the universally used rational decision making process model. Thus, the conceptualization of rational decision-making model was also considered in this paper, the possibility of decision failure, the complexity of the municipality, and systemic thinking as the recommended option of dealing with complexity was explored. The results indicates that the theory that underpins the adoption of systemic thinking in dealing with complexity today’s business environment is relevant.

Knowledge transfer in family business successions

2015 ◽  
Vol 5 (1) ◽  
pp. 17-37 ◽  
Author(s):  
Britta Boyd ◽  
Susanne Royer ◽  
Rong Pei ◽  
Xiaolei Zhang
Keyword(s):  
Knowledge Transfer ◽  
Competitive Advantage ◽  
Family Business ◽  
Family Firms ◽  
Family Businesses ◽  
Theory And Practice ◽  
Future Research ◽  
Content Type ◽  
Business Environments ◽  
Theoretical Reasoning

Purpose – Knowledge often is the fundament for strategic competitive advantage. Thus, it is highly relevant to understand better how knowledge is transferred from one generation to the next in family businesses. The purpose of this paper is to link the competitive advantage realisation in family businesses to the success of transferring strategically valuable knowledge in different business environments to the next generation. Design/methodology/approach – Building on the contingency model of family business succession (Royer et al., 2008) knowledge transfer in family businesses from different cultures is investigated in this paper. From a resource-oriented and transaction cost inspired perspective two family businesses with a similar industry background from China and Europe are compared regarding knowledge transfer in the context of family firm succession taking into account the respective transaction atmosphere. Findings – Different successions for two long-lived family firms are illustrated in a systematic fashion: based on the theoretical elements suggested both cases are described to get insights into the usefulness of the theoretical reasoning developed. On the basis of these, the cases are compared with each other and conclusions for both cases are drawn. Implications for theory and practice as well as avenues for future research are sketched. Originality/value – The focus of the current study is to gain more insight into long-lived family businesses by comparing two cases over a period of more than 200 years with regard to strategically relevant resources as well as the underlying transaction atmospheres. Implications for family firms depending on the resource types and transaction atmosphere are discussed.

scholarly journals Value (co-)creation in B2B sales ecosystems

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sami Rusthollkarhu ◽  
Pia Hautamaki ◽  
Leena Aarikka-Stenroos
Keyword(s):  
Value Creation ◽  
Business Environment ◽  
Future Research ◽  
Value Proposition ◽  
Content Type ◽  
Theoretical Concepts ◽  
Business Environments ◽  
Novel Concept ◽  
Practical Implications

Purpose Digital ecosystemic business environments challenge dyadic approaches to value creation and particularly to business-to-business (B2B) sales. This paper aims to offer a novel conceptualization of the connection between value creation and B2B sales, which indicates practical implications and builds an agenda for future research. Design/methodology/approach This conceptual paper integrates theoretical insights on service-dominant logic, service ecosystems, interactional value co-creation and B2B sales. This paper uses anecdotal evidence from the field of B2B sales to illustrate theoretical concepts developed in the paper. Findings The paper develops the concept of value idea emergence (VIE), the process through which B2B entities become aware of a pursuable benefit. The paper further proposes that value (co-)creation in ecosystems happens through VIE’s intertwinement with the process of value proposition creation, a process, which includes all activities needed to bring a value proposition to a customer. The paper then discusses the role of B2B in these processes and proposes an agenda for future research. Practical implications The novel conceptualizations of value (co-)creation can help B2B sales managers to understand the ecosystemic nature of the interactions that affect sales and value creation in the current business environment. Originality/value The paper contributes to the literature on B2B sales and value creation by proposing a novel concept of VIE, introducing a conceptual model of interactive value (co-)creation in ecosystems and reformulating the role of B2B sales in value creation. These theory-developing insights can be used to guide both academic and managerial attention to interactions happening in the ecosystem outside of the buyer-seller dyad.

Managerial perceptions of energy in logistics

2017 ◽  
Vol 47 (6) ◽  
pp. 447-471 ◽  
Author(s):  
Christian Busse ◽  
Alexander Regelmann ◽  
Hariganesh Chithambaram ◽  
Stephan M. Wagner
Keyword(s):  
Decision Making ◽  
Conceptual Framework ◽  
Subjective Norms ◽  
Future Research ◽  
Organizational Research ◽  
Content Type ◽  
Managerial Perceptions ◽  
Decision Making Processes ◽  
Awareness Raising

Purpose Because of the major contribution of logistics to the greenhouse gas effect, logistics research has begun to address the topic of energy, but it has not yet targeted the role of energy within logistical decision-making processes. To facilitate such endeavors, the purpose of this paper is to explore the perceptions of energy which managers in logistics organizations portray. Design/methodology/approach This investigation is based on interviews with 17 managers. The findings are embedded in the theory of planned behavior (TPB) and stakeholder theory (SHT). Findings The study depicts initial insights on which energy-related perceptions exist, how they can be categorized into attitudes, subjective norms, and perceived behavioral controls (PBCs), and how different stakeholders seem to affect them. Research limitations/implications This research suggests a tentative comprehensive conceptual framework that describes the role of energy in logistical decision-making processes. The findings on attitudes and subjective norms appear to be unspecific to the logistics domain, whereas some of the PBCs are presumably unique to the logistics context. Future logistics research should hence focus its efforts on the PBCs. Generalizability and completeness of the managerial perceptions must be validated by future research. Practical implications The findings help logistics organizations in scrutinizing managerial perspectives on energy and in developing awareness-raising measures. Originality/value The behavioral perspective applied in this study can complement extant, more technically oriented views. The conceptual framework that integrates the TPB and SHT may also be useful for organizational research beyond the logistics domain.

scholarly journals BUSINESS INTELLIGENCE SYSTEMS SUPPORTING SUSTAINABILITY ON FIRM’S DECISION-MAKING PROCESSES AND PERFORMANCE

2021 ◽  
Vol 8 (1) ◽  
pp. 64-75
Author(s):  
Nathaniel Ozigbo ◽  
Keyword(s):  
Decision Making ◽  
Firm Performance ◽  
Business Intelligence ◽  
Business Environment ◽  
Partial Least Square ◽  
Theory And Practice ◽  
Business Intelligence Systems ◽  
Decision Making Processes ◽  
And Performance ◽  
The Impact

In today’s competitive business environment, there exist the need to investigate the adequacy of infrastructural flexibility for Business Intelligence Systems to support Sustainability on Firm’s Decision-making processes and performance. The Business Intelligence Systems consist of unique functions that are intrinsic aimed at supporting better quality decision-making within the organization. It is critical to the smooth operations of every organization. The intention of this study is not to discuss the technical details of implementing Business Intelligence Systems but to explore how to gain maximum benefits from the applications and usage of Business Intelligence Systems. An intensive literature review that highlighted the impact of Business Intelligence on firm performance and decision-making processes were initiated. The focus was on how to apply the Business Intelligence Systems to gain competitive advantage and to create more value from information by aligning it with the needs of employees who are engaged in complex business decision-making in today’s business environment. The study contributed in both academic and industrial operations by providing first time evidence of Business Intelligence solutions with particular reference to Nigerian firms located in Lagos State, Nigeria. The study employed the partial least square analysis with a sample size of 985 respondents randomly selected from five manufacturing companies. The findings suggested that the more effective use of Business Intelligence implementation, the more effective the decision-making processes and firm performance. The study offers a number of implications for theory and practice, noting that Business Intelligence System is in effect allowing firms to shift their structure to more carefully and thoughtfully align with the needs of customers and partners.

Developing a customer knowledge-based measure for innovation management

2014 ◽  
Vol 17 (3) ◽  
pp. 349-374 ◽  
Author(s):  
Wafa Belkahla Hakimi ◽  
Abdelfattah Triki ◽  
Samiha Mjahed Hammami
Keyword(s):  
Factor Analysis ◽  
Innovation Management ◽  
Business Environment ◽  
Future Research ◽  
Customer Knowledge ◽  
Content Type ◽  
Knowledge Based ◽  
Business Environments ◽  
Customer Knowledge Management ◽  
Structural Capacity

Purpose – The purpose of this paper is to introduce the concept of customer knowledge-enabled innovation (CKEI) and suggests a scale for its eventual measurement. The process of the scale development is presented in detail following the Churchill (1979) paradigm. CKEI is defined as the capacity of the organization to introduce new products and services on the basis of effective management of customer knowledge. It reflects the degree to which the company is endowed with the expertise of managing properly customer knowledge in order to enhance innovation. Design/methodology/approach – The CKEI raw scale is mainly composed of 57 items. In an effort to purify the scale measurement, test and validate its psychometric specificities, two surveys were administrated among two independent samples. Respondents were new product managers or marketing managers. One manager per firm was interviewed. The convenience sampling method was applied. Findings – The CKEI scale has been intended to be uni-dimensional. It encompasses three main facets: the integrative capacity of the firm, the structural capacity and the internal management capacity. The developed scale is valid and highly reliable (composite reliability=0.90; variance extracted=0.5). After exploratory factor analysis and confirmatory factor analysis, a pool of ten items was retained for the eventual measurement of the CKEI scale. Research limitations/implications – CKEI has been tested in a Tunisian context; continued refinement of the proposed CKEI scale is, undoubtedly, possible and even desired, based on further research in other business environments. Such refinements and modifications could necessitate the inclusion of new items, or the deletion of original ones. In some cases, the hypothesized factor structure may need modifications. To keep abreast with the ever-changing business environment, the paper strongly urged to incorporate these relevant aspects in the scale into the future research, so that a valid measure of CKEI can be ensured on an ongoing basis. Practical implications – The scale is offered to provide managers with a practical tool for the evaluation of their forces and weaknesses in managing customer knowledge in organizations. It is considered as a barometer allowing them to adjust and to modify continually their innovation strategies focusing on the intellectual capital management. Originality/value – CKEI is a new concept that is introduced in this research as a knowledge-based capability which helps companies to sustain competitive advantage. The relevance of the CKEI is that it is considered as a dynamic capability integrating both innovation and customer knowledge management theories.

Conflict and learning in inter-organizational online communities: negotiating knowledge claims

2014 ◽  
Vol 18 (5) ◽  
pp. 886-904 ◽  
Author(s):  
Julie Ferguson ◽  
Yvette Taminiau
Keyword(s):  
Decision Making ◽  
Knowledge Management ◽  
Online Communities ◽  
Development Aid ◽  
Theory And Practice ◽  
Content Type ◽  
Mutual Learning ◽  
Diverse Communities ◽  
Decision Making Processes ◽  
Knowledge Claims

Purpose – The purpose of this article is to analyze how learning occurs in inter-organizational online communities, despite highly diverse even conflicting knowledge claims among participants. Design/methodology/approach – We compared two inter-organizational communities in the domain of development aid through inductive qualitative case study. Findings – We found that diverse communities proved more likely to yield conflicting knowledge claims in terms of expertise, value consensus and formal position. However, they were also better positioned for enabling mutual learning, than communities with a more uniform representation. Research limitations/implications – We provide theoretical insights for knowledge management by showing how the negotiation of knowledge claims facilitates mutual learning in inter-organizational online communities. Practical implications – The findings are practically relevant for managers of knowledge-intensive organizations by showing how knowledge is shared in diverse online communities. The research also shows that the recognized challenges which diverse communities can yield are likely to be outweighed by their benefits: enabling mutual learning, generating useful expertise and a stronger negotiating position. Social implications – The paper conceives of a development approach that is more inclusive of non-dominant perspectives and solutions in decision-making processes, contributing to improved participation of marginalized people in decision-making processes. Originality/value – We add a new dimension to knowledge management literature, showing how conflict and learning can be a mutually reinforcing process. Contrary to prior knowledge-based views, we found that a diverse community, with a higher concentration of conflicting knowledge claims, facilitated mutual learning more adeptly than a more uniform community. This is important for knowledge management theory and practice because it shows how inter-organizational communities can benefit from heterogeneity, and how conflict can enable and even strengthen mutual learning.

scholarly journals Advantages and potential challenges of data management in e-maintenance

2019 ◽  
Vol 25 (3) ◽  
pp. 378-396 ◽  
Author(s):  
Arian Razmi-Farooji ◽  
Hanna Kropsu-Vehkaperä ◽  
Janne Härkönen ◽  
Harri Haapasalo
Keyword(s):  
Data Management ◽  
Design Methodology ◽  
Management Practices ◽  
Future Research ◽  
Conceptual Approach ◽  
Content Type ◽  
Different Types ◽  
Maintenance Systems ◽  
Industry Leader ◽  
Practical Implications

Purpose The purpose of this paper is twofold: first, to understand data management challenges in e-maintenance systems from a holistically viewpoint through summarizing the earlier scattered research in the field, and second, to present a conceptual approach for addressing these challenges in practice. Design/methodology/approach The study is realized as a combination of a literature review and by the means of analyzing the practices on an industry leader in manufacturing and maintenance services. Findings This research provides a general understanding over data management challenges in e-maintenance and summarizes their associated proposed solutions. In addition, this paper lists and exemplifies different types and sources of data which can be collected in e-maintenance, across different organizational levels. Analyzing the data management practices of an e-maintenance industry leader provides a conceptual approach to address identified challenges in practice. Research limitations/implications Since this paper is based on studying the practices of a single company, it might be limited to generalize the results. Future research topics can focus on each of mentioned data management challenges and also validate the applicability of presented model in other companies and industries. Practical implications Understanding the e-maintenance-related challenges helps maintenance managers and other involved stakeholders in e-maintenance systems to better solve the challenges. Originality/value The so-far literature on e-maintenance has been studied with narrow focus to data and data management in e-maintenance appears as one of the less studied topics in the literature. This research paper contributes to e-maintenance by highlighting the deficiencies of the discussion surrounding the perspectives of data management in e-maintenance by studying all common data management challenges and listing different types of data which need to be acquired in e-maintenance systems.

Service decision-making processes at three New York state cooperative public library systems

2014 ◽  
Vol 35 (6/7) ◽  
pp. 418-432
Author(s):  
Xiaoai Ren
Keyword(s):  
Decision Making ◽  
New York ◽  
New York State ◽  
Public Library ◽  
Organizational Structures ◽  
Annual Reports ◽  
Content Type ◽  
York State ◽  
Decision Making Processes ◽  
And Cluster Analysis

Purpose – The purpose of this paper is to look at the organizational structure and service provisions of cooperative public library systems in New York State. The study also seeks to ask questions of how cooperative public library systems decide what services to provide. Design/methodology/approach – Descriptive statistics, factor analysis and cluster analysis were applied on New York State public library systems’ 2008 annual reports to generate quantitative profiles of public library systems and their service transactions. Three cooperative public library systems displaying different service features were purposefully selected for further study of their service decision-making processes. The face-to-face and phone interviews were adopted in the study. Findings – Research findings from this study provide information on specific service variations across cooperative public library systems. The findings also provide differences of service decision-making processes in addition to the factors that might cause these differences. Originality/value – This study adds knowledge of public library systems’ management and organizational structures, therefore fills a knowledge gap on public library systems. It can also serve as the baseline for future studies using newer annual report data and therefore to study the changing roles and services of cooperative public library systems in New York State.

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