Intuition: The Missing Ingredient for Good Managerial Decision Making

Kurt Matzler, Boris Uzelac, Florian Bauer

Publikation: Bidrag til tidsskriftTidsskriftartikelForskningpeer review

Abstrakt

Purpose:
This paper aims to clarify the role of intuition in managerial decision making by identifying when intuitive decision making is typically applied, of what value it is for organizations and what inhibits its application.
Design/methodology/approach:
The authors combine insights from cognitive and social psychology with empirical evidence from a survey study with Austrian organizations.
Findings:
In conjunction with deliberation, intuitive decision making contributes positively to organizational performance. Its application is moderated by a person’s hierarchical position, organization size as well as the subject at hand.
Research limitations/implications:
While literature suggests to rely on self-reports to measure success, this approach can also be perceived as a limitation of this paper. Although insiders are most knowledgeable about their organizations, their information might lack objectivity. It is therefore important that future research applies more objective success measures.
Practical implications:
This research stresses the merits and dangers of intuitive decision making and advises managers how to become “good” intuitive decision makers.
Social implications
Understanding the hallmarks of intuitive decision making, as well as the factors that moderate it, alters the understanding of our actions and therefore has implications for all human interactions.
Originality/value:
This paper adds to existing literature on intuition in management research by providing empirical data regarding the value of intuition and factors that inhibit its application in organizational contexts.
OriginalsprogEngelsk
TidsskriftJournal of Business Strategy
Vol/bind35
Udgave nummer6
Sider (fra-til)31-40
ISSN0275-6668
DOI
StatusUdgivet - 2014
Udgivet eksterntJa

Emneord

  • Management
  • Decision making
  • Benefits
  • Entrepreneurs
  • Hurdles
  • Intuitive

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