Improving dynamic decision making through training and self-reflection
Författare
Summary, in English
The modern business environment requires managers to make effective decisions in a dynamic and uncertain world. How can such dynamic decision making (DDM) improve? The current study investigated the effects of brief training aimed at improving DDM skills in a virtual DDM task. The training addressed the DDM process, stressed the importance of self-reflection in DDM, and provided 3 self-reflective questions to guide participants during the task. Additionally, we explored whether participants low or high in self-reflection would perform better in the task and whether participants low or high in self-reflection would benefit more from the training. The study also explored possible strategic differences between participants related to training and self-reflection. Participants were 68 graduate business students. They individually managed a computer-simulated chocolate production company called CHOCO FINE and answered surveys to assess self-reflection and demographics. Training in DDM led to better performance, including the ability to solve initial problems more successfully and to make appropriate adjustments to market changes. Participants' self-reflection scores also predicted performance in this virtual business company. High self-reflection was also related to more consistency in planning and decision making. Participants low in self-reflection benefitted the most from training. Organizations could use DDM training to establish and promote a culture that values self-reflective decision making.
Avdelning/ar
Publiceringsår
2015
Språk
Engelska
Sidor
284-295
Publikation/Tidskrift/Serie
Judgment and Decision Making
Volym
10
Issue
4
Dokumenttyp
Artikel i tidskrift
Förlag
Society for Judgment and Decision Making
Ämne
- Business Administration
Nyckelord
- dynamic decision making
- complex problem solving
- training
- self-reflection
- microworlds
- strategies
Status
Published
ISBN/ISSN/Övrigt
- ISSN: 1930-2975