Self-Regulation Capacity and Decision Making of Slovak Managers in Routine Situations and in Situations with Possible Negative Outcomes

Abstract

IntroductionIn the beginning, research of decision making was frequently focused on the consideration of possible options or alternatives and on searching for information and ways of reframing the situation of decision making to achieve a proper decision (see Edwards, 1954; Kahneman & Twersky, 1984). These approaches lead to many significant findings related to choice and information processing, however, they failed to describe the differences in successful attainment of the chosen options (Byrnes, 1998). These differences are usually related to specific individual dispositions, which have an effect on optimal decision making and the process of attaining chosen goals. Several individual dispositions were found to be positive factors in optimal decision making, such as the capacity of cognitive reflection (Frederick, 2005), emotional stability (Miu et al., 2008), etc. One of the most discussed individual dispositions related to decision making is self-regulation capacity, which became a part of several models or approaches to decision making (Byrnes, 1998; Higgins, 2002; Vohs et al., 2008).In general, self-regulation is understood as an effort to reach personal goals and control unwanted impulses, usually of emotional nature (Halama, 2014). More specific definition by Vohs et al. (2008) states that self-regulation is a self-exerting control to override a prepotent response, with the assumption that replacing one response with another is done to attain goals and conform to standards. Several models and concepts of self-regulation have been described in scientific literature. Carver and Scheier (1981, 1998, 2012) understand self-regulation as a process based on the feedback loops. A person in this model moves toward a specific goal and receives information about possible discrepancy between his or her activity and the approaching goal. This information serves as a source for adaption of the consequent behavior in order to increase probability of goal attainment. Mischel (1996; Metcalfe & Mischel, 1999) proposed that self-regulatory capacity depends on the ability to switch between hot and cool system (cognitive/reflective vs. emotional/reactive) and maintain balance between them. Special role in this dynamics is played by cognitive abilities, which can help reframe hot stimuli and keep the attention on pursuing the chosen goal. Baumaister (2002, Baumaister et al., 1998) suggested that self-regulation draws on the limited sources. In his ego depletion theory, self-regulation failure happens because sources used by an individual are depleted by previous self-regulation.Several studies have focused on the relationship between self-regulation and decision making. Golwitzer and Sheeran (2009) proposed the existence of so called implementation intentions, which are sources for self-regulatory efforts. In consumer behavior, proper intentions can regulate decision making and contribute to constructive ways of decision making, e.g. attention control, information elaboration, and overcoming disruptive influences. Vohs et al. (2008) used the ego-depletion approach in their study and found that self-regulation and decision making are mutually related. In their research, they focused on choices, which are understood more broadly than decision making, because decision making includes only the situations in which conscious reflective choice is involved (Arrow, 1958). They pointed out that making choices can negatively affect later self-regulation, since the effort to make choices comes from the same source as self-regulation and can consume energy. This can lead not only to selfregulation failure but also to improper decisions due to the lack of energy for the elaborated conscious reflective process of decision making. Higgins (2002; Crowe & Higgins, 1999) suggested that the link between self-regulation and decision making is a regulatory focus. Regulatory focus is two-fold: promotion focus is oriented towards attainment of positive outcomes and prevention focus towards avoidance of negative outcomes. …