Abstract
How Successfully can Decision-Making Style Predict the Orientation toward Well- or Ill-Structured Decision-Making Problems
Highlights
The theory of expected utility, which became well-known and popular in the second half of the 20th century, represents the normative direction in decision-making, emphasizes the rationality of the decision-maker as a phenomenon that recognizes all available solution variants along with consequences, and chooses the variant with the highest utility (Simon, 1979; Wells & Chiang, 2017). This rationality model does not take into account many conditions and factors in which the actual decision-making in an organization takes place (Sanchez & Contreras, 2016)
Considering a greater number of criteria and the qualitative nature of some of these standards complicates the process of creating and evaluating variants, and the selection of decision-making tools. This created a new direction in decision-making theory, the descriptive approach, in which researchers have focused on examining in personal terms the relationships in decision-making in terms of other factors influencing the process, i.e. values, not rushing toward a decision, the degree of certainty, intuition, decision-making style, quality and accessibility of information, crisis and conflict, as well as emotional intelligence (Dubrin, 2011; Seo & Barrett, 2007; Staňková et al, 2017) and age (Sproten et al, 2018)
Delcroix et al (2013) discuss decision problem structuring based on a model that takes into account decision-maker characteristics, contextual characteristics as well as the needs and preferences of all involved
Summary
The theory of expected utility, which became well-known and popular in the second half of the 20th century, represents the normative direction in decision-making, emphasizes the rationality of the decision-maker as a phenomenon that recognizes all available solution variants along with consequences, and chooses the variant with the highest utility (Simon, 1979; Wells & Chiang, 2017) This rationality model does not take into account many conditions and factors in which the actual decision-making in an organization takes place (Sanchez & Contreras, 2016). According to Dewberry et al (2013), decision-making competence can be associated with certain decision-making styles, whereby decision-making styles and personality account for a substantial amount of variance in decision-making competence
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