Behavioral Strategy and the Strategic Decision Architecture of the Firm

Powell, Thomas C, Sibony, Oliver and Lovallo, Dan (2017) Behavioral Strategy and the Strategic Decision Architecture of the Firm. California Management Review, 59 (3). pp. 5-21.

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Abstract

This Special Issue explores the impacts of behavioral strategy on management practice. We believe that behavioral strategy can best contribute to management practice by shifting its focus from individual decision biases to the design of behaviorally-informed decision processes at the level of the firm. We identify three types of organizational decision processes, show how they interact with individual and group biases, and propose a model showing how managers can design and deploy these processes to shape the strategy of the firm. We introduce the papers of the Special Issue and discuss their contributions to the future of behavioral strategy.

Item Type: Article
Keywords: Strategy, Behavioral strategy, psychology, cognitive bias, strategic decision process
Subject(s): Strategy
Date Deposited: 22 May 2017 11:11
Date of author-version deposit: 22 May 2017
Last Modified: 07 Nov 2017 11:07
Funders: n/a
URI: http://eureka.sbs.ox.ac.uk/id/eprint/6358

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