Intuition in Managerial Decision-Making

  • Pompiliu CONSTANTINESCU Romanian Cultural Institute, Romania
  • Mădălina CONSTANTINESCU Spiru Haret University, Romania

Abstract

Through the research into intuition and its role in managerial decision-making we are going to try and lay emphasis on the situations when people gain understanding of what intuition is and how to use is successfully. In order to do so, we are going to summarize a variety of researches into the realm of intuition and emphasize several theoretical recommendations. While this revision helps us take into consideration several disputes regarding intuition, it also arises some problems and focuses on new opportunities of study. Another relevant aspect of our carryout presents the most acute controversies - from our own perspective – in the study of intuition.

References

[1] Bazerman, M. 2006. Judgment in Managerial Decision Making, 6th Edition, John Wiley and Sons, Hoboken, NJ.
[2] Blattberg, R.C., and Hoch, S.J. 1990. Database models and managerial intuition: 50% model 50% manager. Management Science, 36: 887–899.
[3] Burke, L.A., and Miller, M.K. 1999. Taking the mystery out of intuitive decision making. Academy of Management Executive, 13(4): 91–99.
[4] Chi, M.T.H., Glaser, R., and Farr, M.J. 1998. The nature of expertise. Hillsdale, NJ: Lawrence Erlbaum Associates.
[5] Collins, H.M. 1982. The replication of experiments in physics. In B. Barnes and D. Edge (Eds.), Science in Context: 94–116. Cambridge, MA: MIT Press.
[6] Dawes, R.M., Faust, D., and Meehl, P.E. 1989. Clinical versus actuarial judgment. Science, 31: 1668–1674.
[7] Denes-Raj, V., and Epstein, S. 1994. Conflict between intuitive and rational processing: When people behave against their better judgment. Journal of Personality and Social Psychology, 66: 819–829.
[8] Epstein, S. 1990. Cognitive-experiential self-theory. In L. Pervin (Ed.), Handbook of Personality: Theory and Research: 165–192. New York: Guilford Press.
[9] Epstein, S. 2002. Cognitive-experiential self-theory of personality. In T. Millon and M. J. Lerner (Eds.), Comprehensive handbook of psychology. Volume 5: Personality and Social Psychology: 159–184. Hoboken, NJ: Wiley.
[10] Ericsson, K.A., and Charness, N. 1994. Expert performance: Its structures and acquisition. American Psychologist, 49: 725–747.
[11] Hammer, M., and Champy, J. 1993. Reengineering the Corporation. A Manivesto for Business Revolution. Nicholas Brealey Publishing. London.
[12] Hammer, M., Leonard, D., and Davenport, T. 2004. Why don’t we know more about knowledge? MIT Sloan Management Review, 45(4): 14–18.
[13] Hayashi, A.M. 2001. When to trust your gut. Harvard Business Review, 79(2): 59–65.
[14] Hodgkinson, G., and Sadler-Smith, E. 2003. Complex or unitary? A critique and empirical reassessment of the Allinson- Hayes Cognitive Style Index. Journal of Occupational and Organizational Psychology, 76: 243–268.
[15] Hogarth, R.M. 2001. Educating Intuition. Chicago: University of Chicago Press.
[16] Isenberg, D.J. 1984. How Senior Managers Think. Harvard Business Review, 62(6): 81–90.
[17] Jung, C.G. 1933. (First published in 1921.) Psychological types. New York: Harcourt, Brace, and Company.
[18] Kahneman, D. 2003. A perspective on judgment and choice. American Psychologist, 58: 697–720.
[19] Kahneman, D., and Tversky, A. 2000. Choices, Values, and Frames. Cambridge: Cambridge University Press.
[20] Kahneman, D., Slovic, P., and Tversky, A. 1982. Judgment under Uncertainty: Heuristics and Biases. Cambridge: Cambridge University Press.
[21] Khatri, N., and Ng, H.A. 2000. The role of intuition in strategic decision making. Human Relations, 53: 57–86.
[22] Klein, G. 2003. Intuition at Work. New York: Doubleday.
[23] Langer, E.J. 1989. Mindfulness. Reading, MA: Addison-Wesley.
[24] Lieberman, M.D. 2000. Intuition: A social cognitive neuroscience approach. Psychological Bulletin, 126: 109–137.
[25] Lovett, M.C. 2002. Problem solving. In H. Pashler and D. Medin (Eds.), Stevens’ handbook of experimental psychology. Volume 2: Memory and cognitive processes: 317–362. New York: Wiley.
[26] Matusik, S.F., and Hill, C.W.L. 1998. The utilization of contingent work, knowledge creation, and competitive advantage. Academy of Management Review, 23: 680–697.
[27] Myers, D.G. 2002. Intuition: Its Powers and Perils. New Haven, CT: Yale University Press.
[28] Osterloh, M., and Frey, B. 2000. Motivation, knowledge transfer, and organizational forms. Organization Science, 11: 538–550.
[29] Policastro, E. 1999. Intuition. In M. A. Runco and S. R. Pritzker (Eds.), Encyclopedia of creativity, 2: 89–93. San Diego: Academic Press.
[30] Prietula, M.J., and Simon, H.A. 1989. The experts in your midst. Harvard Business Review, 67(1): 120–124.
[31] Raidl, M. H., and Lubart, T.I. 2000-2001. An empirical study of intuition and creativity. Imagination, Cognition and Personality, 20: 217–230.
[32] Rowan, R. 1989. What it is. In W. H. Agor (Ed.), Intuition in Organizations: Leading and Managing Productively: 78–88. Newbury Park, CA: Sage.
[33] Shanteau, J., and Stewart, T.R. 1992. Why study expert decision making? Some historical perspectives and comments. Organizational Behavior and Human Decision Processes, 53: 95–106.
[34] Shapiro, S., and Spence, M.T. 1997. Managerial intuition: A conceptual and operational framework. Business Horizons, 40(1): 63–68.
[35] Shirley, D.A., and Langan-Fox, J. 1996. Intuition: A review of the literature. Psychological Reports, 79: 563–584.
[36] Simon, H.A. 1996. The Sciences of the Artificial (3rd Edition). Cambridge, MA: MIT Press.
[37] Stadler, M.A., and Frensch, P.A. 1998. Handbook of Implicit Learning. Thousand Oaks, CA: Sage.
[38] Ștefănescu, L. Ștefănescu A. 2008. The need of knowledge management strategy for the successfully implementation of reengineering projects, Icfai University Journal of Knowledge Management, 6(6): 51-60.
[39] Tversky, A., and Kahneman, D. 1974. Judgment under uncertainty: Heuristics and biases. Science, 185: 1124–1131.
[40] Tversky, A., and Kahneman, D. 1983. Extensional versus intuitive reasoning: The conjunction fallacy in probability judgment. Psychological Review, 90: 293–315.
[41] Vaughan, F.E. 1979. Awakening intuition. New York: Doubleday.
[42] Westcott, M.R., and Ranzoni, J.H. 1963. Correlates of intuitive thinking. Psychological Reports, 12: 595–613.
[43] Wild, K.W. 1938. Intuition. Cambridge: Cambridge University Press.
Published
2018-04-20
How to Cite
CONSTANTINESCU, Pompiliu; CONSTANTINESCU, Mădălina. Intuition in Managerial Decision-Making. Journal of Advanced Research in Management, [S.l.], v. 8, n. 2, p. 112-119, apr. 2018. ISSN 2068-7532. Available at: <https://journals.aserspublishing.eu/jarm/article/view/1926>. Date accessed: 17 may 2022. doi: https://doi.org/10.14505//jarm.v8.2(16).02.