Strategic decision and its practice in turnaround
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In this paper, focusing on recovery process in turnaround, we conducted research for the purpose of analyzing and examining behaviors caused by leaders and members in the organization. Based on preceding studies, we assumed the following recovery process. Because decisions are biased, the learning as a practical act is promoted to overcome the bias, and the performance heads toward the rising phase. It is a major feature that we have analyzed and examined under given conditions — the decision by heuristic processing and the cognitive bias generated by it. As a result of conducting a case study on the presented analytical tasks, we were able to confirm the following points. The first, it is thought that means to check aggravation was provided by an opportunity of special display rousing the attention of the person concerned and having instigated curiosity, and by severe business condition having laid exploratory behavior. The second, it is thought that the jellyfish exhibit strategy was judged by overconfidence — overestimated confidence having really experienced to breed the upside-down jellyfish than an established theory which the display of the jellyfish is difficult and unmanageable. Easy memory that was one of the availability heuristics generated a cognitive bias of the overestimate. The third, the attitude of the absolute value evaluation of visitors who saw for the first time was impressive and unforgettable, and it became an anchor and the starting point of the learning. I raised eagerness to learn by the satisfaction that oneself sometimes felt at the same time. It is thought that result by the learning captures the heart of visitors steadily and led to recovery. Heuristics has a constant influence on the learning. In this paper, it contributed to academic research to have made clear from the viewpoint of heuristics that the cognitive bias generated by decision in some cases acts effectively in the practice stage.
Okayama Economic Review
The Economic Association of Okayama University
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