2013
DOI: 10.15208/pieb.2013.04
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Making decisions in an ever-changing environment - A research agenda

Abstract: Simon recognized the limitations of the classical normative decision theory and established descriptive theory. His concept of bounded rationality and administrative behavior was a big step ahead, but the world has changed dramatically since then. Multiple, continuous changes have become normal, which brings up new problems on the decision maker"s and on the organization"s level as well. It became usual that the decision maker is not able to define preferences for lack of knowledge and have to learn or delegat… Show more

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Cited by 2 publications
(2 citation statements)
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References 14 publications
(7 reference statements)
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“…Many decision makers have to make more and more decisions about issues they are not familiar (enough) with, not knowing (entirely) the important attributes of the problem to be solved. In such situations, they have the following options (Pataki and Pádár, 2013): learning about the issue to become able to make a (more or less) rational decision, that is, gathering and analyzing information about the significant attributes; and/or asking for advice from or delegating the decision to a trusted expert, because it is hopeless for him/her to become an expert on the issue within the given time and resource constraints.…”
Section: 22mentioning
confidence: 99%
“…Many decision makers have to make more and more decisions about issues they are not familiar (enough) with, not knowing (entirely) the important attributes of the problem to be solved. In such situations, they have the following options (Pataki and Pádár, 2013): learning about the issue to become able to make a (more or less) rational decision, that is, gathering and analyzing information about the significant attributes; and/or asking for advice from or delegating the decision to a trusted expert, because it is hopeless for him/her to become an expert on the issue within the given time and resource constraints.…”
Section: 22mentioning
confidence: 99%
“…Innovative approaches are now required for responsiveness to the changing environment (Pádár and Pataki, 2010). The nature of competition and competitive advantage has mostly changed (Bryan, 2002;Farsani et al, 2012;Kotter, 2012;Mendenhall et al, 2003;Miles et al, 2010;Pieters and Young, 1999;Beer et al, 2000;Smith and Fingar, 2003;Wang and Ahmed, 2003).…”
Section: Change and Competitive Advantagementioning
confidence: 99%