Blind to the future: Exploring the contingent effect of managerial hubris on strategic foresight

Li, Anran; Sullivan, Bilian Ni

doi:10.1177/1476127020976203

Cited by 18 publications

(11 citation statements)

References 118 publications

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“…2 A kind of escalation exists when moving from confidence to hubris. While confidence is grounded in a rational process of categorization and evaluation of information (Gist & Mitchell, 1992;Bandura, 1997), hubristic CEOs manage information in trusting and unwise fashion (Li & Sullivan, 2020), thereby conferring high importance to chances of success due to their contribution. The boundary line between confidence and hubris regards how people process information.…”

Section: Ceos' Hubrismentioning

confidence: 99%

The bright and dark sides of CEO hubris: Assessing cultural distance in international business

Picone

Pisano

Dagnino

2021

European Management Review

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This paper aims to enrich the behavioral theory of international business strategy by investigating how CEO hubris (i.e., excess pride and confidence) affects international strategic choices, that is, location selection, entry timing, and modes of entry into the target market. Specifically, we focus on the relationship between cultural distance and international strategic choices and consider hubris as a mechanism that influences CEOs' decisions. Our conceptual framework recognizes that the performance of international strategies managed by hubristic CEOs is extremely volatile. On the one hand, we corroborate the idea that hubris has a dark side that may lead to pernicious outcomes. On the other hand, we recognize a bright side of hubris related to the consideration that overconfidence may sometimes be seen as a necessary CEO quality that in turn differentiates one firm from the others.

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Section: Ceos' Hubrismentioning

confidence: 99%

The bright and dark sides of CEO hubris: Assessing cultural distance in international business

Picone

Pisano

Dagnino

2021

European Management Review

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“…The importance of prospective is perceived, from the sense of previewing to delineate trajectories of action and strategically manage organizational processes [48] as the case of professional practices in interorganizational and intersectoral cooperation contexts.…”

Section: Discussionmentioning

confidence: 99%

Betting Scenario for the Management of University Professional Practices from the Conformation of Intersectoral Cooperation Networks

et al. 2023

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The professional practices represent a space for interorganizational and intersectoral alliances that contribute to the development of localities and regions. From this referent, the design and validation of intersectoral cooperation networks is considered pertinent for the effective management of professional practices. Therefore, this article is oriented towards the construction of the ideal scenario where a universitygovernmentcompany intersectoral cooperation network can operate on a horizon of 2030. Foresight is used as a research and planning method, in conjunction with the consultation of experts from different social sectors that lead to obtaining sixteen scenarios of probable occurrence. For this, techniques, such as the prospective workshop, Delphi method, structural analysis (MICMAC) and scenario analysis (SMIC), are used. The results show a bet scenario where the four finally selected events occur, with a probability of occurrence of 35.7%, which would allow establishing future strategies that allow the network to be operational. It is concluded that the formation of a cooperation network for the management of university professional practices represents in itself a strategy to strengthen the curriculum and guide the achievement of common objectives in the intersectoral context studied. The contribution of the article to the study of sustainability sciences stands out, since it addresses a theme that leads to the description, explanation and understanding of the sustainable development of localities and regions from an educational dimension. In this sense, the contribution is synthesized from three planes of reflection and analysis: firstly, the understanding of sustainability as a multidimensional construct, where education is a key dimension to consolidate sustainable development processes; secondly, the management of interorganizational and intersectoral networks as a cooperation strategy that promotes sustainable development; and thirdly, prospective as a planning method that leads to delineating betting scenarios for sustainability management from an educational perspective, more specifically from the university curriculum.

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“…Thus, they may not pay close attention to the current climate because they consider their organizations competent, resourceful, and powerful (Tang et al 2015). As a result, hubristic managers tend to identify and encode information cues for future trends of the present, uncertain and dynamic environment in which information quickly becomes obsolete (Li and Sullivan 2022).…”

Section: Failure Myopiamentioning

confidence: 99%

“…On the other hand, although hubristic managers can predict future environmental conditions, they can overestimate or underestimate the validity of predictions over existing conditions, reducing the effectiveness of information absorption for future strategic views. That is, they may fail to process such information in a thoughtful and future-oriented manner, and their estimates of the relationship between current information cues and future scenarios of events can be very biased (Li and Sullivan 2022). Hubristic managers tend to be independent and less cautious.…”

Section: Failure Myopiamentioning

confidence: 99%

Managerial Myopia Control to Improve Financial Performance in Microfinance Institutions

Anam¹,

Khajar²,

Mutamimah³

2023

R. Econ. and Finan.

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Management makes many strategic decisions that have an impact on the performance of the company. Decision-making carried out by management allows for decision-making bias. Our research seeks to gain a further understanding of the managerial phenomenon of myopia, where previous empirical research has been very limited and conceptual. This study aims to analyze the influence of managerial myopia on financial performance in microfinance institutions. This decision-making bias is a concern because of the impact it causes and is often not realized by many managers. Methodology This research uses explanatory research that emphasizes the relationship between research variables through hypothesis testing. Research variables include temporal myopia, spatial myopia, failure myopia, and financial performance. Data collection was carried out using structured questionnaires, and analysis was performed using PLS-SEM with SMART-PLS software. The results showed that managerial myopia (temporal, spatial, and failure) negatively affects financial performance. These results indicate that the biased practices of management may affect the company's financial performance. This study contributes to the financial literature on managerial myopia by analyzing the influence of managerial myopia on financial performance, thereby increasing understanding of the phenomenon of managerial myopia in microfinance institutions, where previous research was still limited. Managers can easily use the indicators we developed to assess managerial myopia as metrics for each type of myopia. These empirical results serve as an impetus for myopic managers to redirect their behavior and help convince sustainability-oriented managers to stay on track.

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Blind to the future: Exploring the contingent effect of managerial hubris on strategic foresight

Cited by 18 publications

References 118 publications

The bright and dark sides of CEO hubris: Assessing cultural distance in international business

The bright and dark sides of CEO hubris: Assessing cultural distance in international business

Betting Scenario for the Management of University Professional Practices from the Conformation of Intersectoral Cooperation Networks

Managerial Myopia Control to Improve Financial Performance in Microfinance Institutions

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