Intuition: Myth or a Decision-making Tool?

Faced with today’s ill-structured business environment of fast-paced change and rising uncertainty, organizations have been searching for management tools that will perform satisfactorily under such ambiguous conditions. In the arena of managerial decision making, one of the approaches being assessed is the use of intuition. Based on our definition of intuition as a non-sequential information-processing mode, which comprises both cognitive and affective elements and results in direct knowing without any use of conscious reasoning, we develop a testable model of integrated analytical and intuitive decision making and propose ways to measure the use of intuition

The Restyled Federal Rules of Evidence

A lightly edited transcript of the Symposium held at the William & Mary School of Law on October 28, 2011

The Restyled Federal Rules of Evidence

A lightly edited transcript of the Symposium held at the William & Mary School of Law on October 28, 2011

Choosing Among Alternative New Product Development Projects: The Role of Heuristics

The initial screening decision that marketing managers make is critical. It requires the selection of which innovation project to invest in, which is fundamental to marketing success. However, our knowledge of how managers make these decisions and how this impacts performance is limited. By drawing upon cognitive psychology and the managerial decision-making literature, we address two critical questions. The first question focuses on identifying specific decisionmaking types (e.g., specific heuristics, intuition) used when making an innovation-screening decision. Based on this analysis and prior research, we develop specific decision-maker profiles about how an individual manager decides. The second research question is about connecting these profiles with performance. Specifically, it addresses what the consequences of different decision-maker profiles are on the perceived accuracy and speed of decision-making? Data were collected from 122 senior managers in these industries. We find that when heuristics are used alone, or concurrently with intuition, managers make decisions that are as accurate as when they rely on analytical decision-making. However, the process is significantly faster. The findings provide an important step towards a more comprehensive understanding of decisionmaking at the front-end of innovation