Cognitive Simplification Processes in Strategic Decision-making.

Schwenk, Charles R.

Strategic decision-making can be viewed as a special kind of decision-making under uncertainty. Such decision-making involves the activities of goal formulation, problem identification, alternatives generation, and evaluation selection. Researchers in cognitive psychology and behavioural decision theory have identified a number of cognitive simplification processes which may affect the way decision-makers perform these tasks. Within this paper, the research on these processes is summarized and their possible effects on strategic decision-making are discussed. Implications for future research in this area are also drawn.

DECISION making; STRATEGIC planning; COGNITIVE psychology; DECISION theory; BEHAVIORAL assessment; PROBLEM solving; BUSINESS planning; FUTURES studies; HUMAN behavior

Strategic Management Journal (Wiley-Blackwell) - 1980 to 2009, 1984, Vol 5, Issue 2, p111

0143-2095

Academic Journal

10.1002/smj.4250050203