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    Making decisions well and badly: How stakeholders' discussions influence individual executives' decision confidence and competence

    Access Status
    Fulltext not available
    Authors
    De Villiers, R.
    Hankin, R.
    Woodside, Arch
    Date
    2016
    Type
    Book Chapter
    
    Metadata
    Show full item record
    Citation
    De Villiers, R. and Hankin, R. and Woodside, A. 2016. Making decisions well and badly: How stakeholders' discussions influence individual executives' decision confidence and competence, in Woodside, A. (ed), Making Tough Decisions Well and Badly: Framing, Deciding, Implementing, Assessing, pp. 87-116. Bingley, UK: Emerald.
    Source Title
    Making Tough Decisions Well and Badly: Framing, Deciding, Implementing, Assessing
    DOI
    10.1108/S1069-096420160000024006
    ISSN
    1069-0964
    School
    School of Marketing
    URI
    http://hdl.handle.net/20.500.11937/54997
    Collection
    • Curtin Research Publications
    Abstract

    This chapter presents a new model for developing and assessing the decision competencies of executive decision-makers. Prior models consider individual and group decision-making but neglect to consider the impact of groupinteractive decision-making on real-world problem-solving and sense-making activities. In the present study experimental protocols represent an approximation of a realistic business decision-making process, where decision-makers consult with groups of stakeholders and then make decisions on their own. The model juxtaposes decision competence with the level of decision confidence with which decisions are made. The study furnishes an objective test for this phenomenon, resulting in quantitative empirical evidence of either follow-the-herd (FTH) behavior, or group-forged individual decisions (GFID), or follow-my-own-mind (FMOM) individual decision behavior. The study investigates the impact of group-interactive decision processes on hubristic behavior decision-makers who make poor/wrong decisions, but remain confident in their choices, judgments, and decisions. The resulting management decision competency model provides an inter-disciplinary matrix, of benefit to human resource development specialists, and provides scholars in organizational behavior and leadership development with guidance for current and future research into group dynamics and decision competencies.

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