Previous studies have not adequately addressed the role of cognitive biases in strategic decision processes. In this article we suggest that cognitive biases are systematically associated with strategic decision processes. Di€erent decision processes tend to accentuate particular types of cognitive bias. We develop an integrative framework to explore the presence of four basic types of cognitiv...

We begin with the broader view where knowledge is considered a strategic asset[1]. More specifically, we are talking about the kind of knowledge that supports planning and decision making[2]. A Strategic Knowledge Map (SKM) is a graphic representation of how a firm understands the workings of its world. The Map is a diagram—a visualization of your decision-making options, limitations, opportuni...

The present paper introduces a parametric generalized exponential measure of fuzzy divergence of order α with the proof of its validity. A particular case of proposed fuzzy divergence measure is studied. Some properties of the new divergence measure between different fuzzy sets are proved. We establish a relation between exponential fuzzy entropy of order α and our fuzzy divergence measure. Fur...

A wide variety of factors influence the quality of strategic decisions. This research considers one such influence, the Strategic Decision Making process. It explores whether previous theoretical propositions hold in quite different organisations in a very different business environment, namely a University in England. The research examines how a strategic problem was addressed. Interviews with...

This study examined top management characteristics and strategic decision making in organizations. The basic question the paper seeks to address is: Do managers’ background have significant influence on their process? To achieve this, hypotheses were developed primary data obtained through structured questionnaire that was validated pilot tested. Cronbach alpha test for reliability gave an over...