Mapping the Quantum Frontier in Decision-making: A Comprehensive Review on the Implications of QDT for Strategy and Governance

Abstract

Classical theories of decision are considered to have been the foundation of most organizational decisions, for decades. Though these theories undoubtedly offer valuable insights, they have not successfully explained the complexities and irrationalities of human behaviour and decisions. The surfacing of Quantum Decision Theory (QDT) seems to have initiated a shift away from conventional thinking. It has reshaped significantly scholarly discussions in the areas of strategy and governance. This extensive assessment outlines ground-breaking developments in QDT and then evaluates its transformative effects on organizational strategy and governance. The studies serve a dual purpose. Firstly, it identifies and offers solutions to classical decision-making approaches. Secondly, it encourages the adoption of QDT-based creative approaches that better align with the complicated dynamics of human decision-making processes. This study enriches current academic discourse by presenting a comprehensive assessment of QDT, thereby providing fresh perspectives more attuned to the complexities of contemporary organizational environments.