Avoiding Stupid Puma Syndrome in Organizations: The Importance of Effective Decision-Making Process

Year 2022, Volume: 5 Issue: 2, 98 - 109, 31.12.2022

Can Biçer

Abstract

In this study, the importance of making effective decisions in organizations will be focused and the major steps of the effective decision-making process will be outlined. In addition, a conceptual framework will be provided based on the previous studies and literature in order to emphasize the crucial role of the effective decision making in organizations. First, a decision is an important step of selection or choice of one action from several alternative options and it is clear that decision-making is the essence of management and organizations should make decisions continually at every level and these decisions vary from managerial or strategic to routine operational decisions. However, these decisions must be capable of being implemented though they are at the individual or organizational level and should persuade other individuals as they are feasible and rational in organizations. Additionally, an organization can accomplish its short-term and long-term organizational goals through an effective decision process by avoiding solely relying on intuition or "gut reaction." Hence, decision-making is not a random process, and before making important decisions, it is important to seek good information and to avoid various challenges and common pitfalls because decisions have a long-term effect on employee motivation, organizational goals and performance. In sum, in this study, the importance of effective decision-making process will be analyzed within the concept of stupid puma syndrome and the major steps of decision-making process in organizations will be outlined.

Keywords

Decision-Making, Effective Decision-Making, Stupid Puma Syndrome

Örgütlerde Aptal Puma Sendromundan Kaçınma: Etkin Karar Vermenin Önemi

Abstract

Bu çalışmada, örgütlerde etkin karar vermenin önemi vurgulanacak ve etkin karar vermenin önemli adımlarının ana hatları çizilecektir. Buna ek olarak, örgütlerde etkili karar vermenin önemli rolüne vurgu yapmak için önceki çalışmaları ve literatürü temel alan kavramsal bir çerçeve sunulacaktır. İlk olarak, karar, birkaç alternatif arasından, bir tercih veya seçim yapılması aşamanın önemli bir adımıdır ve karar vermenin yönetimin özü olduğu açıktır ve örgütler her seviyede sürekli olarak karar almak durumundadır ve kararlar günlük stratejik operasyonel kararlardan, genel yönetimsel kararlara kadar farklılık göstermektedir. Bununla birlikte, bu kararlar, bireysel veya örgütsel düzeylerde de olsa uygulanabilir olmalı ve örgütler için makul ve mantıklı olduğu konusunda ikna edici olmalıdırlar. Bunlara ek olarak, bir örgüt kısa ve uzun vadeli örgütsel hedeflerine etkin karar alma sürecini takip ederek ve sadece sezgilerine güvenerek karar almaktan kaçınarak ulaşabilir. Bu yüzden, karar vermek rastgele bir süreç değildir ve önemli kararlar alınmasından önce, gerçek bilgiyi araştırma, çeşitli sorunlardan ve yaygın gizli tehlikelerden kaçınmak önemlidir çünkü kararların işgören motivasyonu, örgütsel hedefler ve performansı üzerinde uzun vadeli etkileri vardır. Özetle, bu çalışmada, etkin karar vermenin önemi aptal puma sendromu bağlamında irdelenecek ve örgütlerde karar alma süreçlerinin önemli aşamalarını ortaya konacaktır.

Keywords

Karar Verme, Etkin Karar Verme, Aptal Puma Sendromu.

References

• Abubakar, A. M., Elrehail, H., Alatailat, M. A., & Elçi, A. (2019). Knowledge management, decision-making style and organizational performance. Journal of Innovation & Knowledge, 4(2), 104-114.
• Ahmed, M. T., & Omotunde, H. (2012). Theories and strategies of good decision making. International Journal of Scientific & Technology Research, 1(10), 51-54.
• Akdere, M. (2011). An analysis of decision-making process in organizations: Implications for quality management and systematic practice. Total Quality Management & Business Excellence, 22(12), 1317-1330.
• Ballesteros, L., & Kunreuther, H. (2018). Organizational decision making under uncertainty shocks (No. w24924). National Bureau of Economic Research.
• Baptestone, R., & Rabechini Jr, R. (2018). Influence of portfolio management in decision-making. Journal of Industrial Engineering and Management, 11(3), 406-428.
• Bratianu, C., Vătămănescu, E. M., Anagnoste, S., & Dominici, G. (2020). Untangling knowledge fields and knowledge dynamics within the decision-making process. Management Decision.
• Buckley, P., & Casson, M. (2019). Decision-making in international business. Journal of International Business Studies, 50(8), 1424-1439.
• Cristofaro, M. (2017). Reducing biases of decision-making processes in complex organizations. Management Research Review.
• Dias, N., Avila, M., Campani, C. H., & Maranho, F. (2019). The heuristic of representativeness and overconfidence bias in entrepreneurs. Latin American Business Review, 20(4), 317-340.
• Ejimabo, N. O. (2015). The influence of decision making in organizational leadership and management activities. Journal of Entrepreneurship & Organization Management, 4(2), 2222-2839.
• Ekel, P., Pedrycz, W., & Pereira Jr, J. (2019). Multicriteria decision-making under conditions of uncertainty: A fuzzy set perspective. John Wiley & Sons.
• El Othman, R., El Othman, R., Hallit, R., Obeid, S., & Hallit, S. (2020). Personality traits, emotional intelligence and decision-making styles in Lebanese universities medical students. BMC psychology, 8(1), 1-14.
• Erjavec, J., Popovič, A., & Trkman, P. (2019). The effect of personality traits and knowledge on the quality of decisions in supply chains. Economic research-Ekonomska istraživanja, 32(1), 2269-2292.
• Fuertes, G., Alfaro, M., Vargas, M., Gutierrez, S., Ternero, R., & Sabattin, J. (2020). Conceptual framework for the strategic management: a literature review—descriptive. Journal of Engineering, 2020.
• Gambetti, E., & Giusberti, F. (2019). Personality, decision-making styles and investments. Journal of Behavioral and Experimental Economics, 80, 14-24.
• Harbi, S. E., & Toumia, O. (2020). The status quo and the investment decisions. Managerial Finance.
• Hess, J. D., & Bacigalupo, A. C. (2011). Enhancing decisions and decision‐making processes through the application of emotional intelligence skills. Management decision.
• Ilyina, L. A., Tikhonov, V. S., Sakhno, Y. S., & Viktorova, N. V. (2019). The mechanism of highly effective decision making in modern business systems. In The Leading Practice of Decision Making in Modern Business Systems. Emerald Publishing Limited.
• Janssen, M., van der Voort, H., & Wahyudi, A. (2017). Factors influencing big data decision-making quality. Journal of business research, 70, 338-345.
• Kahneman, D., Lovallo, D., & Sibony, O. (2011). Before you make that big decision. Harvard business review, 89(6), 50-60.
• Kossek, E. E., Thompson, R. J., & Lautsch, B. A. (2015). Balanced workplace flexibility: Avoiding the traps. California Management Review, 57(4), 5-25.
• Li, J., Barnes, C. M., Yam, K. C., Guarana, C. L., & Wang, L. (2019). Do not like it when you need it the most: Examining the effect of manager ego depletion on managerial voice endorsement. Journal of Organizational Behavior, 40(8), 869-882.
• Lieder, F., Griffiths, T. L., M Huys, Q. J., & Goodman, N. D. (2018). The anchoring bias reflects rational use of cognitive resources. Psychonomic bulletin & review, 25(1), 322-349.
• Liu, X. (2019). The role of enterprise risk management in sustainable decision-making: A cross-cultural comparison. Sustainability, 11(10), 2939.
• Lovallo, D., & Sibony, O. (2010). The case for behavioral strategy. McKinsey Quarterly. https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/the-case-for-behavioral-strategy.
• Lu, J., Jain, L. C., & Zhang, G. (2012). Risk management in decision making. In Handbook on decision making (pp. 3-7). Springer, Berlin, Heidelberg.
• Mahrinasari, M. S., Hussain, S., Yapanto, L. M., Esquivel-Infantes, S. M., Untari, D. T., Yusriadi, Y., & Diah, A. (2021). The impact of decision-making models and knowledge management practices on performance. Academy of Strategic Management Journal, 20, 1-13.
• Müller, M. (2021). The Value of Work-Related Uncertainty: Changes from Demands on Certainty to Finding Ways of Living in Uncertainty. Changing Societies & Personalities. 2021. Vol. 5. Iss. 3, 5(3), 372-388.
• Negulescu, O., & Doval, E. (2014). The quality of decision-making process related to organizations’ effectiveness. Procedia Economics and Finance, 15, 858-863.
• Platt, M. L., & Huettel, S. A. (2008). Risky business: the neuroeconomics of decision making under uncertainty. Nature neuroscience, 11(4), 398-403.
• Power, D. J., & Mitra, A. (2016). Reducing “bad” strategic business decisions. Drake Management Review, 5(1/2), 15-21.
• Reyes, T., Vassolo, R. S., Kausel, E. E., Torres, D. P., & Zhang, S. (2020). Does overconfidence pay off when things go well? CEO overconfidence, firm performance, and the business cycle. Strategic Organization, 1476127020930659.
• Rezaei, J. (2021). Anchoring bias in eliciting attribute weights and values in multi-attribute decision-making. Journal of Decision Systems, 30(1), 72-96.
• Seo, M. G., & Barrett, L. F. (2007). Being emotional during decision making—good or bad? An empirical investigation. Academy of Management Journal, 50(4), 923-940.
• Sharma, R., Mithas, S., & Kankanhalli, A. (2014). Transforming decision-making processes: a research agenda for understanding the impact of business analytics on organisations. European Journal of Information Systems, 23(4), 433-441.
• Sniazhko, S. (2019). Uncertainty in decision-making: A review of the international business literature. Cogent Business & Management, 6(1), 1650692.
• Shrestha, Y. R., Ben-Menahem, S. M., & Von Krogh, G. (2019). Organizational decision-making structures in the age of artificial intelligence. California Management Review, 61(4), 66-83.
• Sulich, A., Sołoducho-Pelc, L., & Ferasso, M. (2021). Management styles and decision-making: Pro-ecological strategy approach. Sustainability, 13(4), 1604.
• Yoe, C. (2019). Principles of risk analysis: decision making under uncertainty. CRC press.