Research Article

COGNITIVE APPROACH TO STRATEGIC DECISION MAKING PROCESS: A QUALITATIVE RESEARCH ON HIGH LEVEL MANAGERS

Volume: 15 Number: 3 September 30, 2017
EN TR

COGNITIVE APPROACH TO STRATEGIC DECISION MAKING PROCESS: A QUALITATIVE RESEARCH ON HIGH LEVEL MANAGERS

Abstract

In this study, strategic decisions that are characterized as unstructured, complex, and open-ended are addressed from the perspective of cognitive elements that limit rationality. The main purpose of the study is to understand how the cognitive heuristics and biases effect strategic decisions. Semi-structured interviews were conducted with twelve managers and the data were arranged and interpreted by means of descriptive analysis. Findings suggest that participants use emphasis on the level of uncertainty, intuitive adaptation, self-confidence and experience as a variable when using cognitive heuristics and biases. In addition, the study found that participants were heavily influenced by overconfidence, availability heuristic, confirmation bias and hindsight bias, but attempts were made to avoid anchoring, frame effect, and escalation of commitment. It is believed that the research is aimed at an area that has not been studied extensively in the Turkish language and contributes to the development of an explanatory approach to the strategic decision making process.

Keywords

References

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  6. Bukszar, E. (2003) “Does overconfidence lead to poor decisions? A comparison of decision making and judgment under uncertainty”, Journal of Business and Management, 9(1): 33.
  7. Busenitz, L. W. ve Barney, J. B. (1997) “Differences Between Entrepreneurs And Managers In Large Organizations: Biases And Heuristics In Strategic Decision-Making”, Journal Of Business Venturing, 12(1): 9-30.
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Details

Primary Language

English

Subjects

-

Journal Section

Research Article

Authors

Ceyda Kavurmacı
ULUDAĞ ÜNİVERSİTESİ
Türkiye

Füsun Çınar Altıntaş
ULUDAĞ ÜNİVERSİTESİ
Türkiye

Publication Date

September 30, 2017

Submission Date

May 12, 2017

Acceptance Date

November 21, 2017

Published in Issue

Year 2017 Volume: 15 Number: 3

APA
Kavurmacı, C., & Çınar Altıntaş, F. (2017). COGNITIVE APPROACH TO STRATEGIC DECISION MAKING PROCESS: A QUALITATIVE RESEARCH ON HIGH LEVEL MANAGERS. Journal of Management and Economics Research, 15(3), 93-115. https://doi.org/10.11611/yead.312041
AMA
1.Kavurmacı C, Çınar Altıntaş F. COGNITIVE APPROACH TO STRATEGIC DECISION MAKING PROCESS: A QUALITATIVE RESEARCH ON HIGH LEVEL MANAGERS. Journal of Management and Economics Research. 2017;15(3):93-115. doi:10.11611/yead.312041
Chicago
Kavurmacı, Ceyda, and Füsun Çınar Altıntaş. 2017. “COGNITIVE APPROACH TO STRATEGIC DECISION MAKING PROCESS: A QUALITATIVE RESEARCH ON HIGH LEVEL MANAGERS”. Journal of Management and Economics Research 15 (3): 93-115. https://doi.org/10.11611/yead.312041.
EndNote
Kavurmacı C, Çınar Altıntaş F (September 1, 2017) COGNITIVE APPROACH TO STRATEGIC DECISION MAKING PROCESS: A QUALITATIVE RESEARCH ON HIGH LEVEL MANAGERS. Journal of Management and Economics Research 15 3 93–115.
IEEE
[1]C. Kavurmacı and F. Çınar Altıntaş, “COGNITIVE APPROACH TO STRATEGIC DECISION MAKING PROCESS: A QUALITATIVE RESEARCH ON HIGH LEVEL MANAGERS”, Journal of Management and Economics Research, vol. 15, no. 3, pp. 93–115, Sept. 2017, doi: 10.11611/yead.312041.
ISNAD
Kavurmacı, Ceyda - Çınar Altıntaş, Füsun. “COGNITIVE APPROACH TO STRATEGIC DECISION MAKING PROCESS: A QUALITATIVE RESEARCH ON HIGH LEVEL MANAGERS”. Journal of Management and Economics Research 15/3 (September 1, 2017): 93-115. https://doi.org/10.11611/yead.312041.
JAMA
1.Kavurmacı C, Çınar Altıntaş F. COGNITIVE APPROACH TO STRATEGIC DECISION MAKING PROCESS: A QUALITATIVE RESEARCH ON HIGH LEVEL MANAGERS. Journal of Management and Economics Research. 2017;15:93–115.
MLA
Kavurmacı, Ceyda, and Füsun Çınar Altıntaş. “COGNITIVE APPROACH TO STRATEGIC DECISION MAKING PROCESS: A QUALITATIVE RESEARCH ON HIGH LEVEL MANAGERS”. Journal of Management and Economics Research, vol. 15, no. 3, Sept. 2017, pp. 93-115, doi:10.11611/yead.312041.
Vancouver
1.Ceyda Kavurmacı, Füsun Çınar Altıntaş. COGNITIVE APPROACH TO STRATEGIC DECISION MAKING PROCESS: A QUALITATIVE RESEARCH ON HIGH LEVEL MANAGERS. Journal of Management and Economics Research. 2017 Sep. 1;15(3):93-115. doi:10.11611/yead.312041

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