Specialization vs. Diversification Decision Making

2014 ◽  
pp. 16-44
Author(s):  
Dimitris Folinas ◽  
Mohammed Althrawa
Keyword(s):  
Decision Making ◽  
Manufacturing Industry ◽  
Decision Makers ◽  
Risk Avoidance ◽  
Industry Type ◽  
Industrial Cities ◽  
Export Policies ◽  
Import And Export ◽  
Returns On Investment

This chapter has two main aims: first, to explore the role of various economical, financial, and strategic forces influencing firms towards diversification and specialization decision making within the Saudi Arabian manufacturing industry, and second to assess the challenges for both types of companies at the time of decision making and afterwards. Surveying 100 decision makers in the industrial cities of Riyadh using questionnaires developed for both groups, the chapter initially attempts to identify the factors that had the greatest impact on firm performance based on firm returns on investment. Several factors were found significant; first, attempts of specialization were found associated with risk avoidance and managers craving to achieve industry dominant economic features, whilst results show an increased concern among diversified firm decision makers towards changes in import and export policies and regulations. Moreover, industry type was found effective in managerial responses as they weigh the role of the factors presented to the direction of the expansion made.

Factors Influencing Specialization vs. Diversification Decision Making

2012 ◽  
Vol 3 (4) ◽  
pp. 27-50 ◽  
Author(s):  
Dimitris Folinas ◽  
Mohammed Altharwa
Keyword(s):  
Decision Making ◽  
Manufacturing Industry ◽  
Decision Makers ◽  
Risk Avoidance ◽  
Industry Type ◽  
Industrial Cities ◽  
Export Policies ◽  
Import And Export ◽  
Returns On Investment

This paper explores the role of various economical, financial, and strategic forces influencing firms towards diversification and specialization decision making within the Saudi Arabian manufacturing industry. Surveying 100 decision makers in the industrial cities of Riyadh using questionnaires developed for both groups, the study attempts to identify the factors that had the greatest impact on firm performance based on firm returns on investment. Several factors were found significant; first, attempts of specialization were found associated with risk avoidance and managers craving to achieve industry dominant economic features, whilst results show an increased concern among diversified firm decision makers towards changes in import and export policies and regulations. Moreover, industry type was found effective in managerial responses as they weigh the role of the factors presented to the direction of the expansion made.

The role of agency in project initiation decisions

2014 ◽  
Vol 7 (3) ◽  
pp. 518-535 ◽  
Author(s):  
Mark Mullaly
Keyword(s):  
Decision Making ◽  
Decision Rules ◽  
Personal Characteristics ◽  
Decision Makers ◽  
Organizational Dynamics ◽  
Substantive Theory ◽  
Content Type ◽  
The Subject ◽  
Board Level

Purpose – The purpose of this paper is to explore the role of decision rules and agency in supporting project initiation decisions, and the influences of agency on decision-making effectiveness. Design/methodology/approach – The study this paper is based upon used grounded theory methodology, and sought to understand the influences of individual decision makers on project initiation decisions within organizations. Data collection involved 28 participants who were involved in project initiation decisions within their organizations, who discussed the process of project initiation in their organization and their role within that process. Findings – The study demonstrates that the overall effectiveness of project initiation decisions is a product of agency, process effectiveness or rule effectiveness. The employment of agency can have a direct influence on decision-making effectiveness, it can compensate for organizational inadequacies of a process or political nature, and it can be constrained in the evidence of formal and effective organizational practices. Research limitations/implications – While agency was recognized by all participants, there are clearly circumstances where actors perceive the ability to exercise agency to be externally constrained. The study is exploratory, contributing to the development of substantive theory. Theory testing as well as a more in-depth investigation of the underlying drivers of agency would be valuable. Practical implications – The study provides executives and individuals supporting the initiation of projects with insights on how to effectively influence the effectiveness of project initiation decisions, and the degree to which personal characteristics influence organizational dynamics. Originality/value – Most discussions of agency has been framed the subject as an executive- or board-level phenomenon. The current study demonstrates that agency is in fact being perceived and operationalized at all levels. Those demonstrating agency in the majority of instances in this study do so in exercising stewardship behaviours. This has important implications for how agency is perceived by executives, and by how agency is exercised by actors at all levels of the organization.

scholarly journals Novel Parameterized Distance Measures on Hesitant Fuzzy Sets with Credibility Degree and Their Application in Decision-Making

Symmetry ◽  
2018 ◽  
Vol 10 (11) ◽  
pp. 557 ◽  
Author(s):  
Jiaru Li ◽  
Fangwei Zhang ◽  
Qiang Li ◽  
Jing Sun ◽  
Janney Yee ◽  
...  
Keyword(s):  
Decision Making ◽  
Fuzzy Sets ◽  
Cardinal Number ◽  
Decision Makers ◽  
Distance Measures ◽  
Hesitant Fuzzy Set ◽  
Hesitant Fuzzy Sets ◽  
The Subject ◽  
The Relationship

The subject of this study is to explore the role of cardinality of hesitant fuzzy element (HFE) in distance measures on hesitant fuzzy sets (HFSs). Firstly, three parameters, i.e., credibility factor, conservative factor, and a risk factor are introduced, thereafter, a series of novel distance measures on HFSs are proposed using these three parameters. These newly proposed distance measures handle the relationship between the cardinal number and the element values of hesitant fuzzy set well, and are suitable to combine subjective and objective decision-making information. When using these functions, decision makers with different risk preferences are allowed to give different values for these three parameters. In particular, this study transfers the hesitance degree index to a credibility of the values in HFEs, which is consistent with people’s intuition. Finally, the practicability of the newly proposed distance measures is verified by two examples.

Augmenting Medical Diagnosis Decisions? An Investigation into Physicians’ Decision-Making Process with Artificial Intelligence

2021 ◽  
Author(s):  
Ekaterina Jussupow ◽  
Kai Spohrer ◽  
Armin Heinzl ◽  
Joshua Gawlitza
Keyword(s):  
Artificial Intelligence ◽  
Decision Making ◽  
Medical Errors ◽  
Decision Makers ◽  
Medical Decision ◽  
Decision Making Process ◽  
Self Monitoring ◽  
Rule Based ◽  
Human Actors

Systems based on artificial intelligence (AI) increasingly support physicians in diagnostic decisions, but they are not without errors and biases. Failure to detect those may result in wrong diagnoses and medical errors. Compared with rule-based systems, however, these systems are less transparent and their errors less predictable. Thus, it is difficult, yet critical, for physicians to carefully evaluate AI advice. This study uncovers the cognitive challenges that medical decision makers face when they receive potentially incorrect advice from AI-based diagnosis systems and must decide whether to follow or reject it. In experiments with 68 novice and 12 experienced physicians, novice physicians with and without clinical experience as well as experienced radiologists made more inaccurate diagnosis decisions when provided with incorrect AI advice than without advice at all. We elicit five decision-making patterns and show that wrong diagnostic decisions often result from shortcomings in utilizing metacognitions related to decision makers’ own reasoning (self-monitoring) and metacognitions related to the AI-based system (system monitoring). As a result, physicians fall for decisions based on beliefs rather than actual data or engage in unsuitably superficial evaluation of the AI advice. Our study has implications for the training of physicians and spotlights the crucial role of human actors in compensating for AI errors.

What Is It Like to Be a Citizen?

In Our Name ◽  
2012 ◽  
Author(s):  
Eric Beerbohm
Keyword(s):  
Decision Making ◽  
Cognitive Biases ◽  
Decision Makers ◽  
Extensive Literature ◽  
Ethics Of Belief ◽  
Moral Obligations

This chapter defends a theory of citizenship that recognizes our need to make online decisions under electoral pressures, given our foibles as decision makers. Drawing upon the extensive literature on decision and judgment, it examines how fragile citizens are when it comes to decision making. The usual heuristics offered by political scientists suggest that citizens rely on informational shortcuts that are morally irresponsible. If we reconceive the role of the voter in explicitly moral terms, this approach is unsatisfactory in addressing the cognitive biases and defects of citizens. The chapter also considers the notion of cognitive partisanship and argues that it is unavoidable for decision makers to rely on heuristics when they reason about complex decisions. It concludes by emphasizing the task for a democratic ethics of belief: to provide citizens with heuristics that reduce the cognitive burden while respecting the moral obligations to attach to coercive, term-shaping decision making.

Confabulated Explanations

2020 ◽  
pp. 42-69
Author(s):  
Lisa Bortolotti
Keyword(s):  
Decision Making ◽  
Peer Feedback ◽  
Emotional Reactions ◽  
Decision Makers ◽  
Priming Effects ◽  
Self Reflection ◽  
Implicit Biases ◽  
Share Information ◽  
Epistemic Innocence

In this chapter, the author argues that the ill-grounded explanations agents sincerely offer for their choices have the potential for epistemic innocence. Such explanations are not based on evidence about the causes of the agents’ behaviour and typically turn out to be inaccurate. That is because agents tend to underestimate the role of priming effects, implicit biases, and basic emotional reactions in their decision making. However, offering explanations for their choices, even when the explanations are ill-grounded, enables them to share information about their choices with peers, facilitating peer feedback and self-reflection. Moreover, by providing plausible explanations for their behaviour—rather than acknowledging the influence of factors that cannot be easily controlled—agents preserve a sense of themselves as competent and largely coherent decision makers, which can improve their decision making.

4. Public Law

2019 ◽  
pp. 94-127
Author(s):  
Elizabeth Fisher ◽  
Bettina Lange ◽  
Eloise Scotford
Keyword(s):  
Decision Making ◽  
Constitutional Law ◽  
Environmental Law ◽  
Administrative Law ◽  
Public Law ◽  
Decision Makers ◽  
Aarhus Convention ◽  
Constituent Elements ◽  
Public Decision

This chapter explains the important role that public law, particularly administrative law, plays in environmental law. This role comes about because much of environmental law requires vesting decision-making and regulatory power in the hands of public decision-makers at all levels of government. This chapter begins by providing an overview of the different constituent elements of public law: constitutional law, administrative law, the role of the EU and international law, as well the complexities of this area of law. The chapter then moves on to consider the way in which the different types of interests involved in environmental problems and the need for information and expertise provide challenges for public law. The chapter then provides an overview of four major features of public law that are particularly relevant to environmental lawyers: the Aarhus Convention, accountability mechanisms, judicial review, and human rights.

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 Unwanted Conflict? The Analysis of the Impact of Misperception, Beliefs and Psychology of President Nasser at the Outbreak of the Six Day War

2019 ◽  
Vol 01 (02) ◽  
pp. 1950003
Author(s):  
Janko Šćepanović
Keyword(s):  
Decision Making ◽  
Decision Makers ◽  
Structural Explanation ◽  
Defining Moments ◽  
The Us ◽  
History Of ◽  
The Subject ◽  
Six Day War ◽  
The Impact

The Six Day War was one of the most defining moments in the history of the Modern Middle East. This paper seeks to add to the existing scholarship on the subject by going beyond the structural explanation. It gives special attention to the role of unit-level variables like perception, personality, and political psychology of decision-makers. As one scholar noted, threats are not perceived in a vacuum, and are, instead, products of complex synthesis of subjective appraisal of events by the decision-makers. The focus will be on the beliefs and perceptions of the most impactful actor in this crisis: Egyptian President Nasser. As will be argued, his decision-making was shaped by his experience with foreign imperialism, a general misconception of super power intentions, an incorrect analogy between two crucial crisis situations with Israel: the February 1960 Rotem Crisis, and the build-up to the June War in 1967, and especially his complicated relations with the US leaders.

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