Intuition and managerial decision-making

Human Affairs 27 (3):301-316 (2017)
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Abstract

The study examines new possibilities for recognising and understanding intuitive managerial decision-making, which is increasingly discussed in relation to the theory of management. Managers make decisions in organisations which have been undergoing transformation related to societal changes. Managerial decision-making is still understood as a purely rational action. Let us suppose that managers are able to entirely rationally calculate inputs and outputs, or the consequences, of their actions, and always do so to achieve set goals. Managers are expected to decide quickly, and this increases the probability of errors occurring. Therefore, intuition derived from knowledge, experience and emotions is now taking precedence over rationality.

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Heuristic decision making.Gerd Gigerenzer & Wolfgang Gaissmaier - 2011 - Annual Review of Psychology 62:451-482.
Why heuristics work.Gerd Gigerenzer - 2008 - Perspectives on Psychological Science 3 (1):20-29.
Book Review: Tacit and Explicit Knowledge. [REVIEW]Joseph Agassi - 2013 - Philosophy of the Social Sciences 43 (2):275-279.

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