Intuition in Managerial Decision-Making: Results of an Empirical Studies
AbstractThe complex and turbulent environments of contemporary organizations make it difficult or even impossible to make decisions in accordance with the rational decision-making model. Changes in the managerial environment, which are taking place at an increasingly fast pace and are becoming less and less predictable, are leading to a situation in which information is becoming quickly outdated and, in some cases, it is not very reliable by the time of its acquisition by managers. Moreover, the amount of information that managers acquire is increasing every year, which means that the level of saturation brings about changes in the decision-making model: from decision-making under conditions of incomplete information towards conditions of information overload (Kowalewski, 2012, p. 504). As a result, managers are forced to rely on their intuitive abilities that allow them to use new perspectives and approaches in problem-solving, and to identify essential information from the perspective of decision-making. The goal of this paper is to present the issue of intuition in both theoretical and practical terms, especially to determine the frequency of the use of managerial intuitive potential and the factors determining its impact on the effectiveness of decision-making processes. The paper consists of two main parts. The first one presents the essence and characteristics of intuition, as well as guidance for its effective use in practical decision-making. Then, the empirical and analytical part attempts to determine the status and determinants of the use of intuition in practical decision-making. The analysis involves a Polish food company "Fawor", which employs more than 300 workers.
|Publication size in sheets||0.5|
|Book||Dias Rouco JC (eds.): Proceedings of the 11th European Conference on Management Leadership and Governance (ECMLG 2015), 2015, Academic Conferences and Publishing International Ltd, ISBN 978-1-910810-76-7, 616 p.|
|Keywords in English||intuition, rational analysis, decision-making process|
|Score|| = 15.0, 12-02-2020, BookChapterMatConfByIndicator|
= 15.0, 12-02-2020, BookChapterMatConfByIndicator
|Publication indicators||= 0|
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