Publication: An Empirical Investigation of Rationality and Intuition in Strategic Decision-Making Processes in Colombia
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Date
2023-06-19
Authors
Advisor
Court
Deeds, David L. (PRESIDENTE);
Gonçalves Albornoz, Dilney (SECRETARIO);
Gözübüyük, Remzi (VOCAL);
Zerres, Christopher (VOCAL);
Moscheri, Caterina (VOCAL)
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Volume Title
Publisher
IE University
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Abstract
This doctoral thesis presents an empirical investigation of four contextual factors identified in the available body of knowledge as predictors of rationality and intuition in strategic decision-making processes: External environmental characteristics, Strategic decision-specific characteristics, Internal firm characteristics, and Decision-maker specific characteristics. Data from 51 strategic decisions, from an equal number of privately-owned companies in Colombia, South America, served for this analysis. Results presented in this document support findings from previous research regarding the significance of Environmental Uncertainty, a variable from the dimension of external environmental characteristics, and Decision Uncertainty, a variable from the dimension of strategic decision-specific characteristics, as predictors of the use of Experiential Intuition in decision-making processes. This study also found evidence supporting that Firm Size, a variable in the dimension of internal firm characteristics, is a significant predictor of Procedural Rationality in these processes. An empirical examination of the mediation effect of Decision Uncertainty in the relationship between Environmental Uncertainty and strategic decision-making processes, Procedural Rationality and Experiential Intuition, is presented. This exploration yields support to theoretical formulations around this complex relationship, and regarding the association of Environmental Uncertainty as an antecedent of Decision Uncertainty. Finally, this study contributes to the understanding of the role of the thinking style of a decision-maker as a predictor of intuitive behaviors observed in the process of making strategic decisions. The final part of this document summarizes the main findings and contributions to theory, as well as several limitations of this investigation and paths for future research. In attention to the nature of this study, the characteristics of participants in this exploration, and the motivations of the author to pursue this endeavor, the document presents a detailed body of practical implications for managers and practitioners.
Unesco subjects
Estudios Industriales
Investigación Operativa
Comportamiento del Consumidor
Organización de Recursos Humanos
Investigación Operativa
Comportamiento del Consumidor
Organización de Recursos Humanos
License
Attribution 4.0 International
School
IE Business School
Center
Keywords
Citation
Carlos, T. O. (2023). Una investigación empÃrica acerca de la racionalidad e intuición en los procesos de toma de decisiones estratégicas en Colombia / An Empirical Investigation of Rationality and Intuition in Strategic Decision-Making Processes in Colombia