Wisdom, uncertainty, and ambiguity in management decisions based on experiences and the trustworthiness of research methods to substantiate them
DOI:
https://doi.org/10.5585/ijsm.v16i4.2596Keywords:
Management Decisions, Business Research Methods, Risk of Faulty Management Theories, Wisdom in Management Decisions, Ambiguity in Management Decisions, Uncertainty in Management Decisions.Abstract
Wisdom, uncertainty, and ambiguity will always exist in management decisions. One danger for firms lies in managers making decisions based on faulty theories acquired through personal experiences or learned from the experiences of others. Often, these decisions don’t generate the expected outcome and may even put the future of the firm at risk. Managers, to avoid this risk, are required to become wiser, more discerning, and more appropriately skeptical toward personal theories or theories learned from management gurus that propose simplistic formulas and quick-fix remedies. In this paper, the author discusses the risk of decisions based on personal theories or theories learned from others, the business research methods used to substantiate these theories, the philosophical assumptions of business research, the strength and weaknesses of qualitative and quantitative research methods, the benefits of combining both methods, and the trustworthiness of research methods in general for substantiating the theories used by managers in their decision-making.
Downloads
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2017 Iberoamerican Journal of Strategic Management
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
The author (s) authorize the publication of the manuscript in the journal;
The author (s) guarantee that the contribution is original and unpublished and that it is not being evaluated in another journal (s);
The journal is not responsible for the opinions, ideas and concepts emitted in the texts, as they are the sole responsibility of its author (s);
Editors reserve the right to make textual adjustments and adapt to the publication's rules.
Authors retain the copyright and grant the journal the right to first publication, with the work simultaneously licensed under the Creative Commons Attribution License - 4.0 (CC BY-NC-SA 4.0) that allows the sharing of the work with acknowledgment of authorship and initial publication in this magazine.
Authors are authorized to assume additional contracts separately, for non-exclusive distribution of the version of the work published in this journal (eg, publishing in institutional repository or as a book chapter), with acknowledgment of authorship and initial publication in this journal.
Authors are allowed and encouraged to publish and distribute their work online (eg in institutional repositories or on their personal page) at any point before or during the editorial process, as this can generate productive changes, as well as increase impact and citation of the published work (see “The Effect of Open Access” at http://opcit.eprints.org/oacitation-biblio.html).
Authors can use ORCID for identification. An ORCID identifier is unique to an individual and acts as a persistent digital identifier to ensure that authors (particularly those with relatively common names) can be distinguished and their work appropriately assigned.
